A nuclear energy renaissance could create a shortfall in the supply of uranium with output from today’s mines expected to halve between 2030 and 2040 as existing deposits are exhausted.

According to a report from the London-based World Nuclear Association on 5 September, the growing interest in deploying nuclear plants to meet climate targets and for energy security has led to significant increases in projections for future nuclear capacity, and demand for nuclear fuel cycle services.

Global uranium requirements for reactors could rise by a third to 86,000 tonnes by 2030, and to 150,000 tonnes by 2040, according to the report.

But output from today’s mines is expected to halve between 2030 and 2040 as existing deposits are exhausted, leaving a “significant gap” that threatens the nuclear power revival.