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Macquarie Private Wealth announced a report on the uranium market saying it has a hopeful future.
Macquarie Private Wealth announced a report on the uranium market saying it has a hopeful future.
As quoted in the press release:
Uranium is a very heavy metal that can be used as an abundant source of concentrated energy. Almost all the uranium mined today is used for electricity. The main advantage of uranium is that it does not produce any greenhouse gases or smoke as waste. However, nuclear power costs about the same as coal. Over the course of a year, a one million kilowatts (1,000 MWe) coal-fired power station consumes about 3.2 million tonnes of black coal; to produce the same amount of power, a nuclear power plant consumes only about 24 metric tonnes of uranium. To produce 24 tonnes of refined uranium, over 200 tonnes of natural uranium must be mined, which can be recovered from about 20,000 tonnes of typical uranium ore.
Click here to read the Macquarie Private Wealth press release.