Tuesday, June 6 2006 12:38 Hrs (IST) - World Time -

New York: Global uranium resources are more than adequate to meet projected requirements for nuclear electricity generation, according to the latest edition of a United Nations-backed world reference guide.

The guide 'Uranium 2005: Resources, Production and Demand,' jointly prepared by the International Atomic Energy Agency (IAEA) and the Organization for Economic Co-operation and Development (OECD) estimates the total identified amount of conventional uranium stock, which can be mined for less than 130 dollars per kilo, at about 4.7 million tonnes.

That, the guide says, is sufficient for 85 years based on the 2004 nuclear electricity generation rate of demand. Fast reactor technology would lengthen this period to over 2,500 years.

But world uranium resources in total are considered to be much higher. Based on geological evidence and knowledge of uranium in phosphates, the study considers that more than 35 million tonnes are available for exploitation.

By 2025, world nuclear energy capacity is expected to grow to between 22 per cent and 44 per cent, raising annual uranium requirements to between 80,000 tonnes and 100,000 tonnes. The currently identified resources are adequate to meet this expansion.

The spot price of uranium has also increased fivefold since 2001, fuelling major new initiatives and investment in exploration.