Friday, June 1, 2007

Uranium Marketing Annual Report

"As of the end of 2006, cumulative unfilled uranium requirements for U.S. civilian nuclear reactors for 2007 through 2016 were reported to be 276 million pounds U3O8e."

Compare to:

"Owners and operators of U.S. civilian nuclear power reactors purchased a total of 67 million pounds U3O8e (uranium oxide equivalent) of deliveries from U.S. and foreign suppliers during 2006."
From the EIA

Folks who use electricity had better hope this WSJ headline "Australia's Drought Puts Squeeze on Mining" changes soon:

"Water demand will increase sevenfold over the next 10 years in South Australia's central Gawler Craton region, which houses BHP's giant copper-gold-uranium Olympic Dam mine, as a result of Olympic Dam's expansion and other mine starts, Mr. Kuchel said."

Olympic Dam is the Ghawar of Uranium. BHP is willing to invest up to another $8 billion (Aussie) in the property but they're going to need the water.

This climate stuff sure gets interesting.