nuclear-news

The supposed new rise in nuclear power and the uranium business, is doubtful!

As nuclear power rises again, its second act is in doubt, THE GLOBE AND MAIL, 15 Feb 22,

”…………………………scratch beneath the surface, and it’s clear there are reasons to be wary of nuclear’s renaissance. Despite doubling in price since 2018 to trade at about US$43 a pound, uranium is far below the all-time high of approximately US$140 reached in 2007.

And while China, India, Russia and others are building new nuclear plants, the total number worldwide has fallen consistently since 2018, as other countries, including Germany, Belgium, Switzerland and Spain, phase out aging infrastructure.

……………………  one of the biggest factors holding nuclear power back globally is its growing reputation as a money pit. Outside of China, new power-plant construction is renowned for its astronomically long timelines, gargantuan cost overruns and persistent design problems. France’s Flamanville 3 plant took 16 years to build and went €16-billion ($23-billion) over budget. Finland’s Olkiluoto 3 reactor, which is finally scheduled to go into production later this year after more than a decade of delays, will have taken 20 years to build and is about €5-billion over budget.

Nuclear has always had its fair share of skeptics. Its new designation as an environmentally friendly fuel rankles some people because nuclear waste can stay radioactive for thousands of years and must be stored indefinitely. And the chance of a major accident, which can cause not only immediate fatalities but the potential of cancer deaths from exposure to radioactivity decades later, is a continuing risk. Cameco’s Mr. Gitzel acknowledges that as rare as major accidents have been – three in the past 40 years – they cast a long shadow.

February 17, 2022 - Posted by Christina Macpherson | 2 WORLD, business and costs, Uranium