Uranium Week: Bill Gates’ commitment to nuclear power


Weekly reports | 10h57

While the spot price of uranium has increased by 13% over the past seven weeks, Bill Gates underlines the role of nuclear in the energy transition.

-Bill Gates sees future with more nuclear power
-G7 nuclear press release
-The spot price of uranium increased by 1.3% over the week

At a virtual event hosted last week by the Nuclear Energy Institute (NEI), Bill Gates addressed attendees of the Annual Nuclear Energy Assembly on ways to decarbonize the power grid. Gates finds it hard to imagine a future where this can be done affordably without using more nuclear power.

Last week’s Uranium Week article mentioned the collaboration of TerraPower, founded by Bill Gates 15 years ago, on a project to launch a small next-generation nuclear power plant in the United States. . For more details, please see: https://www.fnarena.com/index.php/2021/06/08/uranium-week-gates-and-buffett-combine-on-nuclear/

In his remarks, Bill Gates explained that he firmly believes “that nuclear energy must play a role in bringing the world to net zero. To achieve this goal, we must work together, just as virologists have worked together to create the fastest-paced covid vaccines in human history. Never before has there been so much need to collaborate across industry – from technologists to utilities – with a common vision of the role of nuclear in our electricity grid. “

Gates went on to explain how “TerraPower’s Natrium energy system redefines the concept of nuclear power and offers a different value proposition. Instead of using heat from a reactor to generate steam and spin a turbine, Natrium uses it to run a massive molten salt energy storage system. , an order of magnitude larger than the largest lithium-ion battery storage system in existence today.

“This means that Natrium can provide constant base power when needed, but it can also increase and decrease as production from variable renewable technologies like wind and solar chutes, when the wind ceases. to blow or for the sun to stop shining. In addition, Natrium’s design reduces the costs and construction time of nuclear power plants, while increasing flexibility to make the plant more valuable to utilities.

Group of Seven on nuclear power

The Group of Seven Nations in a statement last week stressed “that unrelenting international investment in coal must end now and we now pledge to end new direct government support for international thermal coal power generation. relentlessly by the end of 2021 “.

Countries have pledged to focus on other technologies, including carbon capture, to help accelerate the transition to coal.

“We will focus on accelerating progress in electrification and batteries, hydrogen, carbon capture, use and storage, zero emission aviation and transportation, and for countries that choose to use it, nuclear power, “the statement said.

Company News

ASX side Deep yellow ((DYL)) announced last week that the completed drilling at the Tumas 3 Central deposit in Namibia indicates that expectations regarding the conversion rate to the indicated resource category are being met.

Once resource upgrade drilling is completed in this area, a new mineral resource estimate will be undertaken for the Tumas 3 West, Central and East deposits, which is expected to be released in late June.

Uranium price

The TradeTech Weekly Cash price The indicator is US $ 32.40 / lb, an increase of US $ 0.40 from last week. The indicator hit an annual high for 2021 again, up 13% in the past seven weeks.

The weekly spot price rose almost 7% in 2021, with an average weekly gain of 0.3%. The average weekly spot price indicator in 2021 is $ 29.85 / lb, which is $ 0.14 higher than the 2020 average.

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