South Africa Plans to Boost Uranium Production

Anticipated rises in the price of uranium over the next decade, driven by demand for a clean, sustainable energy source, have prompted producer countries such as South Africa to develop their production facilities.

SA, the fourth-largest uranium producer with 8% of the world's reserves, has declared it a protected mineral resource in line with the Mineral and Petroleum Resources Development Act of 2002.

Neal Froneman, CEO of South African uranium miner Aflease, says government is "crying out for the development of this strategic resource for export, and has been supportive of the industry".

SA is in a position to benefit from uranium as a primary energy source and from the value derived from increased exports.

The uranium price has trebled over the past three years, driven by the expected increase in nuclear-energy generation.

For more information on the dynamics of supply and demand in uranium markets, click here for a post from NEI Nuclear Notes contributor, Dr. Clifton W. Farrell.

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