Global uranium resources are more than adequate to meet projected requirements, says the latest edition of the recognised world reference on uranium.
Uranium 2005: Resources, Production and Demand, also known as the Red Book, estimates the identified amount of conventional uranium resources which can be mined for less than USD 130/kg, just above the current spot price, to be about 4.7 million tonnes.
Based on the 2004 nuclear electricity generation rate this amount is sufficient for 85 years. However, total world uranium resources which could be available at market price are much higher. Based on geological evidence and knowledge of uranium in phosphates, the study estimates that more than 35 million tonnes are available for exploitation. More information is available at www.oecd-nea.org/general/press/2006/2006-02.html.