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« Coram closing controversial uranium mines | Main | Abenomics Needs Cheap Nuclear Power to Work »

Australia seeks to boost uranium sector

PERTH, Australia, June 6 (UPI) -- Australia's resources and energy minister has called for ramping up the country's uranium sector.

While the world's nuclear power generators will require more than 66,000 tons of uranium this year, current global mine production is only 55,000 tons, the minister, Gary Gray, told the Australian Uranium Association Thursday.

Gray said the shortfall is largely being met by secondary sources, such as the reprocessing of highly enriched weapons-grade uranium from the former Soviet republics.

"This program is set to end this year, and it will be interesting to see the effect this will have on the market," Gray told Mining Weekly, adding Australia was well-positioned to meet the demand.

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