Russia could face uranium shortage from 2030, ministry says

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(Kitco News) – According to the Russian news agency TASS, Russia could face a shortage of uranium raw materials by 2030-2035, due to the depletion of developed deposits.

TASS said it was announced in a recent report by the Russian Natural Resources Ministry on the state and use of mineral resources in Russia in 2020.

“It is possible that a shortage of uranium raw materials suitable for development under current economic conditions could appear in Russia by 2030-2035, which is due to the depletion of reserves of developed uranium deposits,” said noted the authors of the report.

TASS added that although Russia has large reserves of uranium, most of the minerals are of poor quality.

“This makes it difficult, if not impossible, to operate them in modern economic conditions,” TASS said, citing the ministry.

According to the state report, as of January 1, 2021, recoverable uranium reserves in categories A + B + C1 total 327,100 tonnes and in category C2 – 383,500 tonnes.

At the same time, TASS noted that the uranium raw material production volume at the end of 2020 was 2,897 tons, while the increase in uranium reserves due to geological exploration reached 281 tons.

According to the World Nuclear Association, Russia ranked seventh in the world for uranium production in 2020 and fourth for uranium resources.

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