Uranium production will need to double by 2040 to supply reactors
According to a recent report, the World Nuclear Association foresees that the world's uranium resources are enough to respond to the nuclear reactor's demand beyond 2040. The current level of uranium production, which fell 14% between 2016 and 2018 (to 53,498 tU) is preventing further development of the technology. The global uranium production is expected to decrease between 2035-2040, when 25% of mines will reach lifespan, to as low as 48,100 tU (2040). Eventually, new supply will be required which means the industry needs to at least double projected primary uranium production by 2040 (including current, idled, under development and planned prospective projects).
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