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World's Best Uranium CountriesTop Nations & Companies At Meeting World Demand For Nuclear Power
After being enriched, a finger-tip-size uranium fuel pellet stores as much energy as 17,000 cubic feet of natural gas, 1.8 thousand pounds of coal or 149 gallons of oil.
According to the World Nuclear Association, 30 countries operate some 435 commercial nuclear power reactors to supply 16% of the planet's electricity. The United States gets one fifth of its power from nuclear energy, and accounts for almost one third of the world's nuclear electricity. Belgium, Hungary, South Korea, Sweden and Switzerland are part of a group of sixteen countries generate at least 25% of their electricity from nuclear power. France and Lithuania rely on nuclear energy for three quarters of their power. Uranium Prices Soar Uranium (aka "yellow cake") is the key ingredient used to create nuclear power. Calls from high-profile Republicans like President George Bush and Senator John McCain to replace Middle East oil & gas with nuclear power provide a chorus for an astounding increase in the price of uranium. Since 2000, soaring demand has propelled the price per pound of raw uranium over 1500% from US$7 to $115. World's Top Uranium Countries The list below shows 2005 statistics for the top ten raw uranium-mining countries.
Mines from Canada and Australia account for over half of the world's uranium production. The top ten countries above generate over 96% of world uranium mining output. World's Top Uranium Mining Companies Seven large companies are responsible for more than three quarters of world uranium production.
Raw Uranium Cheaper Than Oil With the recent runup in uranium's price, many smaller uranium exploration companies are able to raise capital to potentially uncover a motherlode of the precious yellow cake. Costs incurred to find uranium represent less than 1% of the recent spot price of uranium per pound. In contrast, oil is about 300% more expensive to find than uranium. According to the U.S. Federal Energy Regulatory Commission, nuclear power costs US 1.2 cents per kilowatt hour while oil and gas cost above 5.5 cents. Is Uranium Safe? Andrew Mickey of the Taipan Financial News recently wrote that nuclear energy is a clean, emission-free energy source since nothing is burned. Rather, nuclear plants split uranium atoms to generate heat only releasing water into the atmosphere. Coal, oil and natural gas emit hazardous greenhouse gases into the environment. However, nuclear fuel and waste materials are radioactive. One of the most pressing controversies in international trade deals with how radioactive uranium and its byproducts can be safely transported and disposed.
The copyright of the article World's Best Uranium Countries in International Trade is owned by Daniel Workman. Permission to republish World's Best Uranium Countries in print or online must be granted by the author in writing.
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