Nuclear Fuel Resources and Price Trends

This paper presents the history of uranium procurement and demand, and takes a look at future requirements. The three basic conclusions drawn are: (1) the productive capacity of former and existing producers whose operations may be profitably reactivated is insufficient to meet demand projected beyond 1975; (2) reserves in the $5 -$10 price range do not provide the flexibility to sustain production at the high rates required in the late 1970's; and (3) only higher prices can overcome these deficiencies, as this would provide sufficient inducement for the industry to explore for and develop new reserves and productive capacity.