Uranium is the main raw material fuelling all nuclear fission reactors today. Countries around the world use it to reliably generate low-carbon electricity, process heat and hydrogen as part of their plans to reduce carbon emissions and increase energy security and supply. A rapid growth of nuclear power in coming decades, including a recent declaration by more than 20 countries to triple nuclear energy capacity by 2050, as well as new technologies, such as small modular reactors (SMRs), will likely require additional supplies of uranium resources.
The Joint NEA-IAEA Uranium Group works to support the preparation of periodic assessments of the world’s supply of natural uranium and to examine the relationship of these supply capabilities to projected demand for natural uranium. Group members meet regularly to exchange technical information in the fields of uranium resources, exploration, production technology, environmental effects and environmental protection technologies associated with mining and ore processing.
The group brought together around 60 participants from NEA and IAEA member countries for a meeting in Paris, France, on 14-16 February 2024. The meeting featured discussions on current and future uranium demand and supply, the latest developments in the field and potential challenges. A series of presentations by member countries provided an overview of updates to national programmes and recent advancements in the field.
The Uranium Group also assists the Secretariat in preparing the joint biannual NEA-IAEA publication entitled Uranium: Resources, Production and Demand. The report is a recognised world reference on uranium and a new edition will be published in 2024.
