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New initiative for 200GW of nuclear energy in US by 2050, US Dept of Energy

The US Department of Energy launched its Pathways to Commercial Liftoff to accelerate the commercialization and deployment of key clean energy technologies — with a particular focus on nuclear — through engagement between the public and private sectors.

New nuclear deployment starting in 2030 - The Oregon Group - Investment Insights

The proposed build out of 13GW added annually would require the fuel supply chain capacity to increase by 200–300%.

According to the report, the US had a recent peak of 2,263 MT U3O8 mined in 2014. However, an additional 22,000 MT were procured by the U.S. globally in support of ~100 GW of existing nuclear power capacity. To support an additional 200 GW, the U.S. would need to expand mining/milling operations by an additional ~50,000 MT per year (i.e., grow by 22x the most recent peak). Mining/milling of uranium will need to be increased from the U.S., allies, and partners to ensure a secure supply for the expected growth in nuclear capacity.

This supply would potentially need to be split between developing a domestic supply and working with other OECD countries to ensure a sufficient uranium supply (e.g., Australia, Canada).

Possible actions by the public sector to ensure such supply increases would include:

  • Classify uranium as a critical material
  • Ensure any non-domestic U3O8 supply comes from allies and partners

For investors, our report on the uranium bull market and coming of the second atomic age:

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The Oregon Group

The Oregon Group

The Oregon Group is an investment research team founded by independent capital markets experts, Anthony Milewski and Justin Cochrane.

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