Global uranium market imbalance will intensify

2021 ◽  
Keyword(s):  
Nuclear Energy ◽  
Nuclear Reactors ◽  
New Left ◽  
Uranium Mining ◽  
Spot Price ◽  
Content Type ◽  
Uranium Miner

Significance By September, the spot price of uranium had surged to USD50 per pound (USD110 per kilogram), the highest since 2015. It remains above USD44. Sprott currently holds 24 million pounds of uranium, equivalent to 20% of annual mining production. Impacts Kazatomprom, the world’s largest uranium miner, is investing in a new physical uranium fund, ANU Energy, with plans to raise USD500mn. The Biden administration is taking steps to establish a US uranium reserve,originally proposed by the previous administration. Russia's plans to raise its share in global nuclear energy from about 20% to 25% by 2045, requiring completion of 24 new reactors. Westinghouse has reached an agreement to build nuclear reactors in Ukraine. Greenland's new left-leaning government is preparing legislation that will ban uranium mining.

Inventory overhang will plague global uranium market

2015 ◽  
Keyword(s):  
Uranium Mining ◽  
Spot Price ◽  
Content Type ◽  
The Us

Subject The outlook for the global uranium market. Significance Despite a fall in uranium mining production by 8 million pounds (mlb) in 2014, the market is oversupplied, with shipments standing at 191 mlb versus demand of 168 mlb. Underpinned by 276 transactions, the market remains quiet and the spot price has stabilised between 38 and 40 dollars a pound (lb) since end-February. The prevailing pessimism owes to massive inventories accumulated by utilities. Impacts If upheld by the courts, ConverDyn's allegations of market dumping by the US DOE could limit DOE sales. Russia-Kazakhstan tensions are limited, but any escalation could spark concerns regarding the security of Kazakhstan's uranium supplies. While unlikely, sanctions targeting Russian enrichment capacity could remove 18 mlb from the global supply, or 10% of annual demand.

Greater acceptability, lower compensations required? The impact of perceived net benefits on willingness to accept nuclear energy projects

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Davide Contu ◽  
Elgilani Eltahir Elshareif
Keyword(s):  
United Arab Emirates ◽  
Nuclear Energy ◽  
Cost Benefit ◽  
Willingness To Accept ◽  
Content Type ◽  
Nuclear Plants ◽  
Energy Projects ◽  
The Uk ◽  
The Impact ◽  
Support Cost

Purpose This paper aims to estimate willingness to accept (WTA) hypothetical nuclear energy projects and the impact of net perceived benefits across three countries: Italy, a country without nuclear plants in operation; the UK, a country with nuclear plants in operation and the United Arab Emirates (UAE), which has more recently opted for the inclusion of nuclear energy in its energy mix. These valuations can support cost-benefit analyses by allowing policymakers to account for additional benefits and costs which would be otherwise neglected. Design/methodology/approach Data collection was conducted through online nationwide surveys, for a total of over 4,000 individuals sampled from Italy, the UK and the UAE. The surveys included choice experiments designed to elicit preferences towards nuclear energy in the form of WTA, indicating estimated compensations for welfare worsening changes and questions to measure perceived risks and benefits. Findings The average WTA/Km is the lowest for the case of the UAE. What is more, perceived net positive benefits tend to decrease the WTA required by the UAE respondents? Moreover, across the cases, albeit to a lesser extent with regard to Italy’s case, there is evidence that a more positive benefit perception seems to increase the valuation of environmental and public benefits offered as part of the experiment. Originality/value The contribution of this study is primarily twofold: first, it provides a comparison of WTA values in a context where the availability of choice experiment data is scant; second, it assesses whether and to what extent perceived net positive benefits of nuclear energy impact WTA of nuclear energy projects.

Crop price insurance in China: pricing and hedging using futures market

2017 ◽  
Vol 9 (4) ◽  
pp. 567-587 ◽  
Author(s):  
Minghua Ye ◽  
Rongming Wang ◽  
Guozhu Tuo ◽  
Tongjiang Wang
Keyword(s):  
Market Price ◽  
Futures Market ◽  
Insurance Premium ◽  
Spot Price ◽  
Agricultural Commodity ◽  
Content Type ◽  
Price Series ◽  
Insurance Firms ◽  
Price Insurance ◽  
S Model

Purpose The purpose of this paper is to demonstrate how crop price insurance premium can be calculated using an option pricing model and how insurers can transfer underwriting risks in the futures market. Design/methodology/approach Based on data from spot and futures market in China, this paper develops an improved B-S model for the calculation of crop price insurance premium and tests the possibility of hedging underwriting risks by insurance firms in the futures market. Findings The authors find that spot price of crops in China can be estimated with agricultural commodity futures prices, and can be taken as the insured price for crop price insurance. The authors also find that improved B-S model yields better estimation of crop price insurance premium than traditional B-S model when spot price does not follow geometric Brownian motion. Finally, the authors find that hedging can be one good alternative for insurance firms to manage underwriting risks. Originality/value This paper develops an improved B-S model that is data-driven in nature. Insured price of the crop price insurance, or the exercise price used in the B-S model, is estimated from a co-integration model built on spot and futures market price series. Meanwhile, distributional patterns of spot price series, one important factor determining the applicability of B-S model, is factored into the improved B-S model so that the latter is more robust and friendly to data with varied distributions. This paper also verifies the possibility of hedging of underwriting risks by insurance firms in the futures market.

Next Dutch government will likely be ‘greener’

2021 ◽  
Keyword(s):  
Government Policy ◽  
Nuclear Energy ◽  
Prime Minister ◽  
Dutch Government ◽  
Far Right ◽  
Government Formation ◽  
Content Type ◽  
Climate Targets ◽  
A Priority ◽  
The Eu

Significance Government formation should have been relatively straightforward but a series of political controversies have damaged VVD leader and Dutch Prime Minister Mark Rutte’s credibility with the CU and some opposition parties. Impacts The collective rise of the far-right vote means the far right will continue to worry centrist parties and thus influence government policy. Investment in nuclear energy to meet climate targets is unlikely to be a priority for the new government. Dutch influence in the EU could grow with the departure of Merkel in September, and Macron’s focus on the 2022 election.

scholarly journals Investigation of thermodynamic factors influencing Thorium reactor efficiencies

2015 ◽  
Vol 2 ◽  
pp. 14-31
Author(s):  
Jarrod Glass ◽  
Anthony Burgess ◽  
Takuya Okugawa
Keyword(s):  
Molten Salt ◽  
Atmospheric Pressure ◽  
Energy Production ◽  
Nuclear Energy ◽  
Nuclear Reactors ◽  
Reactor Core ◽  
Thermodynamic Efficiency ◽  
Power Flux ◽  
Factors Influencing ◽  
Water Reactors

In this meta-study, the major forms of thorium based nuclear reactors were compared using thermodynamic parameters to find which reactor type holds the highest thermodynamic efficiency and hence, determine which reactor would be most beneficial to research further and implement for energy production. Our study found that molten salt reactors had the best thermodynamic efficiency and also runs at one atmospheric pressure, making it safer than conventional water reactors. The findings in this study show molten salt reactors would be the most efficient reactor to replace standard water reactors, which dominate the market in use of nuclear energy production. This study found a strong link between the thermal efficiency of the plant and the pressure and temperature at which it runs. Reactor core volumes also appeared to have a small effect on the efficiencies. Power flux density was calculated for each style of reactor and compared to other parameters but no distinct relationship was found between them. 

IAEA INPRO Project: A Vision of How to Meet the Opportunities and Challenges of Large-Scale Nuclear Energy Development

2006 ◽  
Author(s):  
M. Khoroshev ◽  
F. Depisch ◽  
S. Subbotin
Keyword(s):  
Energy Supply ◽  
Energy Demand ◽  
Nuclear Energy ◽  
Large Scale ◽  
Nuclear Reactors ◽  
Energy Systems ◽  
Energy Development ◽  
International Project ◽  
Fuel Cycles ◽  
Sustainable Energy Supply

The IAEA International Project on Innovative Nuclear Reactors and Fuel Cycles (INPRO) can be considered as the IAEA’s response to the challenges of growing energy demand. INPRO’s activities are intended to help to achieve one of the main objectives of the IAEA — to promote the development and peaceful use of nuclear energy. INPRO applies a carefully developed Methodology to assess Innovative Nuclear Energy Systems (INS) and to define R&D needs and deployment strategies for the development of large-scale regional and global INS. The purpose is to match the opportunities and challenges of sustainable energy supply provided by nuclear energy (NE) to the global balance of demands and resources.

Australia’s Atomic Past

2020 ◽  
Vol 2 (1-2) ◽  
pp. 98-111
Author(s):  
David Lowe
Keyword(s):  
Nuclear Energy ◽  
Fuel Cycle ◽  
Nuclear Fuel Cycle ◽  
Uranium Mining ◽  
Educational Materials ◽  
Distinctive Features ◽  
Starting Point ◽  
Parliamentary Committee ◽  
Pros And Cons ◽  
Atomic Testing

Abstract I ask in this article whether the legacies of Australia’s nuclear past, including the great secrecy surrounding testing of weapons in the 1950s and 1960s, and subsequent clean-ups, have impacted in particular ways that have ongoing ramifications for policy relating to uranium mining and nuclear energy. My starting point is the sustained examination of the pros and cons of developing the nuclear fuel cycle in Australia, a Parliamentary Committee Inquiry from 2006. Contrasting the submissions and discussions of this committee with exhibition and educational materials relating to the legacies of atomic testing, I suggest that one of the biggest opportunities for constructive policy conversation on nuclear energy suffered from the absence of trust among different groups. This derived, in good measure, from distinctive features in popular remembering of Australia’s atomic past. In 2006, it fed the exasperation of nuclear advocates who did not, and perhaps still do not, appreciate that the neat separation of uranium mining and energy generation from Australia’s earlier encounters with the atom is very hard. Relatedly, I argue that the secrecy around governments’ involvement in atomic testing, and its legacies, is likely to be seized on regularly; and likely to sustain what is a reservoir of public mistrust of government policy.

Modi's regulatory crackdown on NGOs could backfire

2015 ◽  
Keyword(s):  
Civil Society ◽  
Supreme Court ◽  
Nuclear Energy ◽  
Similar Action ◽  
Content Type ◽  
Perceived Ability ◽  
The Supreme Court ◽  
The Government

Significance In April, similar action was taken against nearly 9,000 other non-profits. These moves are part of intensifying clashes between the government and civil society. Many NGOs are vocal opponents of Modi's key policies, and the government is frustrated at their perceived ability to harness popular opposition and use the judiciary to stall key projects. Impacts Government efforts on coal (and to a lesser extent nuclear energy) will still encounter NGO resistance. The Supreme Court may become embroiled in the NGO-government clash, portending costly and lengthy battles for investors. Western governments are likely to be more sensitive to Modi's regulatory crackdown, risking hurdles in improving diplomatic ties.

Iran deal will not relaunch nuclear power globally

2015 ◽  
Keyword(s):  
Climate Change ◽  
Power Generation ◽  
Nuclear Power ◽  
Nuclear Energy ◽  
Nuclear Power Generation ◽  
Content Type ◽  
Safety Risks ◽  
Un Security Council ◽  
Mitigate Climate Change ◽  
Carbon Prices

Subject Impact of the Iran deal on civil nuclear energy. Significance The deal between Iran and the P5+1 powers (five permanent UN Security Council members plus Germany) will have little effect on the global deployment of nuclear power technology. The agreement could pave the way for new civil nuclear power generation in Iran. Elsewhere, civil nuclear power's prospects are restrained by high costs compared to alternatives, safety risks and political acceptance. Impacts Advanced nuclear power countries will encourage newcomers to meet their needs for nuclear fuel by relying on existing suppliers. Countries investing in new civil nuclear power are unlikely to also seek weapons capability. Low oil and carbon prices and the apparent reluctance of countries to mitigate climate change will constrain nuclear power investment.

Lack of consensus clouds EU-UK transition prospects

2017 ◽  
Keyword(s):  
United Kingdom ◽  
Nuclear Energy ◽  
Trade Agreements ◽  
Content Type ◽  
Investor Confidence ◽  
Sudden Loss ◽  
The United Kingdom ◽  
Regulatory Capacity

Significance In keeping with much of the Brexit debate, discussion of the possibility of a transitional arrangement has been frequently vague and contradictory, but clarity is necessary to delineate the different things that transition might mean. Impacts Investor confidence could plummet if prospects for a transitional deal deteriorate, and more companies may decide to relocate. No transitional deal would mean the sudden loss of regulatory capacity, affecting many industries including nuclear energy. Even if a transitional deal is agreed, the United Kingdom may no longer be covered by the EU’s trade agreements.

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