AS THE world prepares for the largest investment in nuclear power in decades, owners of uranium mines last week raised the prospect of fuel shortages. To make things worse, the reliability of estimates of the amount of uranium that can be economically mined has also been questioned.
Volatile oil and gas prices, along with the threat of global warming, have pushed governments to reconsider nuclear energy, partly because it is a low-carbon technology and partly because uranium supplies seem plentiful.
Mined uranium caters for about 60 per cent of the global demand for nuclear fuel. The rest comes from secondary sources, including stockpiles left over from the 1970s and 1980s, reprocessed fuel and the conversion of old Russian nuclear warheads - the so-called Megatons to Megawatts programme.
But the supply may not be as secure as first thought. The price of uranium has plummeted from a peak of ...
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