World Uranium Demand Could be Up 400% by 2040 and Japan Plans on Adding at Least 14 or More Nuclear Reactors by 2030

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1. Barry Brook, a leading australian academic, predicts that global demand for mined uranium will rise 
at least fourfold over the next 30 years, driven by rising electricity demand and scaling back on fossil fuel dependence.

Thermal reactors currently contributed about 380 GW (gigawatts) of global electricity 
supplies, or 15% of total electricity production, which was due to grow by at least four times to about 1.5 TW (terawatts) by 2040. In line with this growth scenario, global ura-
nium consumption would rise from 69 000 tons/year 
at present to about 285 000 t/y by 2040. China’s electricity production, a key driver of Australia’s uranium industry, was scheduled to reach between 2 TW and 3 TW by 2050, with global needs in the region of 10 TW.

2. Japan is planning to build at least 14 nuclear power plants over the next 20 years to reduce its reliance on other countries for its energy needs

The world’s second biggest economy, which wants to double its provision for its fuel consumption, will make an announcement in June on whether it indends to press ahead with the plants, the Nikkei business daily said.

Japan has few energy resources and relies on nuclear power from 53 plants for nearly one third of its domestic electricity needs.

The government is eager to boost its energy self-sufficiency ratio, which stands at 18 percent at home and at 38 percent with government and corporate interests overseas taken into account, the report said.

The government is looking to build eight nuclear plants by 2020 and at least six more by 2030 to double the figure to 70 percent. It will provide funding to companies looking to work on nuclear power projects

3. Russia has signed an agreement to build two more 1,000 megawatt reactors at China’s Tianwan nuclear power plant, Russia’s state-owned nuclear company Atomstroyexport


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