B. Uranium exploration and mining

Date: 2015-10-07; view: 549.

A. Uranium production and distribution

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Commercial-grade uranium can be produced through the reduction of uranium halides with alkali or alkaline earth metals. Uranium metal can also be made through electrolysis of KUF₅ or UF₄, dissolved in a molten CaCl₂ and NaCl. Very pure uranium can be produced through the thermal decomposition of uranium halides on a hot filament.

Owners and operators of U.S. civilian nuclear power reactors purchased from U.S. and foreign suppliers a total of 21,300 tons of uranium deliveries during 2001. The average price paid was $26.39 per kilogram of uranium, a decrease of 16 percent compared with the 1998 price. In 2001, the U.S. produced 1,018 tons of uranium from seven mining operations, all of which are west of the Mississippi River.

The ultimate supply of uranium is very large. It is estimated that for a ten times increase in price, the supply of uranium that can be economically mined is increased 300 times.

Uranium is distributed worldwide. The world's largest single uranium deposit is located at the Olympic Dam Mine in South Australia.

Australia has the world's largest uranium reserves — 40 percent of the planet's known supply. Almost all the uranium is exported, but under strict International Atomic Energy Agency safeguards to satisfy the Australian people and government that none of the uranium is used in nuclear weapons. Australian uranium is used strictly for electricity production.

In spite of Australia's huge reserves, Canada remains the largest exporter of uranium ore, with mines located in the Athabasca Basin in northern Saskatchewan. Cameco, the world's largest, low-cost uranium producer accounting for 18% of the world's uranium production, operates three mines in the area.

There are also significant ore finds in Sweden but it is currently not legal to exploit them.

U.S mining has been in a slump due to the presence of former weapons material available for reprocessing into fuel; the stockpiles of former Soviet uranium and the CES countries' need for dollars; and the start of production at huge high-grade uranium mines in Canada are depressing the market price.