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Index / Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, and Industry

1/9/2016 by mdc
The Uranium (Nuclear and Rare Earths) Committee (UCOM) of the AAPG Energy Minerals Division, chaired by Michael D. Campbell, P.G., P.H., C.P.G., has continued to monitor the nuclear power industry because it drives uranium exploration and development in the United States and overseas. Input for this Mid-Year (Year-End) Report has also been provided by Henry Wise, P.G., C.P.G. (Vice-Chair - Industry) on industry activities in uranium, thorium, and rare-earth exploration and mining, by Steven Sibray, P.G., C.P.G., Vice Chair (University) on university activities in uranium, thorium, and rare-earth research, and by Robert Gregory, P.G., Vice Chair (Government) on governmental (State and Federal) activities in uranium, thorium, and rare-earth research, with special input from other members of the Advisory Group.

Two new members have been appointed by the Chair to the UCOM Advisory Group this year. They are Kevin T. Biddle, Ph.D., ex-ExxonMobil Exploration VP (retired), and Michael A. Jacobs, P.G., Pioneer Natural Resources USA, Inc., Midland, Texas, and ex-Tenneco Uranium Inc. West Cole Uranium Mine in Texas.

UCOM also provides summary information on current thorium and rare-earth exploration and mining, and associated geopolitical activities....

1. U.S. production of uranium concentrate in the third quarter 2015 was 774,541 pounds
U3O8, down 2% from the second quarter 2015 and down 47% from the third quarter 2014.

2. At the end of September 2015, U.S. uranium concentrate production totaled 2,718,929
pounds U3O8. As expected, this amount is 29% lower than the 3,805,798 pounds produced
during the first nine months of 2014.

3. 89% of the fuel requirements of U.S. nuclear power plants will come from Canada,
Australia, and Kazakhstan, and other sources, amounting to some 377 million pounds
U3O8 per year.

4. The spot uranium price of US$36.52/lb U3O8 for Q3 2015 was lower than estimate of
US$40.00/lb (-8.7%).

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