Experts: Uranium supplies may deplete by 2080 without immediate action

Existing uranium reserves, a critical resource for the growing nuclear energy industry, could be depleted by 2080 unless urgent measures are taken to increase extraction and exploration. 

A new joint report from the Nuclear Energy Agency (NEA) of the Organisation for Economic Cooperation and Development (OECD) and the International Atomic Energy Agency (IAEA) underscores the urgent need for investment in the discovery and development of new uranium deposits, as the demand for nuclear energy continues to rise globally, Caliber.Az reports via Russian media. 

As of 2024, Russia holds the sixth-largest uranium reserves in the world, with Kazakhstan leading the list, followed by Canada, Namibia, Australia, and Uzbekistan. 

The global stockpile of identified and extractable uranium reserves stands at approximately 8 million tons as of early 2023, but there is significant potential for further discoveries, the report reveals.

However, with the rapid expansion of nuclear energy, these reserves may not last long enough to meet future demands unless new strategies for uranium exploration and mining are put in place. In Russia, over 100 uranium deposits have been discovered since the mid-20th century. 

Some of the country’s largest uranium reserves are located in the Streltsovsky ore field in Zabaykalsky, the Vitim uranium ore district in Buryatia, the Elkon uranium ore district in Yakutia, and the Zauralsky uranium ore district, which includes the Dalmatovskoye, Khokhlovskoye, and Dobrovolnoye deposits in the Kurgan region. Uranium is a radioactive chemical element essential for nuclear energy production. 

A small amount of uranium fuel, about the size of a chicken egg, can generate the same amount of electricity as 88 tons of coal. The isotope U-235 is used in nuclear reactors, and its concentration is artificially increased to produce enriched uranium, which is crucial for energy generation.

By Naila Huseynova