Mar 7 2013
Uranium Hunter Corporation has acquired properties in both Guyana and West Africa focusing on what it sees as tremendous growth opportunities in the demand and supply of uranium for future world demand of electricity.
The growth in nuclear power centers on China, India, and Russia. These huge populations remain among the lowest consumers of electric power in the world. And in those countries, nuclear power should flourish. According to British Petroleum's "Energy Outlook 2030" study, the countries will increase their use of nuclear power 7.8% per year through 2030.
That means the nuclear power demand from those countries will more than double by 2020 and will quadruple by 2030.
To put that into a more global perspective, the world has 436 active nuclear reactors today with a total capacity of 374 gigawatts (GW). Another 62 reactors are under construction and will add 63 GW of capacity.
Each gigawatt of increased capacity requires about 200 metric tons of uranium per year. And the first fueling for new reactors requires between 400 to 600 metric tons of uranium, according to the World Nuclear Organization. So the 62 new plants will need a minimum of 25,000 metric tons of uranium in their first year of production and 12,400 metric tons per year after that.
According to the World Nuclear Organization, total demand for uranium will hit 67,990 metric tons in 2012. The 62 plants under construction will jack up that number by 18%.
And think about this... another 484 reactors are either on order, planned, or proposed. China alone accounts for 171 of those planned reactors. India accounts for 57 and Russia the other 44. These potential reactors represent 542 GW of electric power. If those reactors are built, they will more than double the existing nuclear fleet.
This will squeeze current suppliers and supplies.
Gregory Ellis , Uranium Hunter's President, said, "The increase in the world's demand for electricity and the use of nuclear power provides tremendous opportunities for any one securing new production of uranium. We are anxious to be a part of that new production and to take advantage of the opportunities that will be available in the future."