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18 July 2019: Quarterly Activities Report for Period Ending 30 June 2019
The following was included:
URANIUM MARKET
The TradeTech weekly spot price average for the June quarter was US$24.83/lb, an 11% decrease compared to the previous quarter. The US Department of Commerce’s Section 232 investigation into US uranium imports weighed heavily over the market during the period, with quarterly market activity reduced by more than 50% and uranium spot prices falling in the wake of this reduced demand. A decision by United States President Donald Trump to decline issuing quotas for US domestic uranium production was announced on 12 July 2019. The decision is expected to encourage additional buying activity and contribute to improved market conditions moving forward.
Planned nuclear phase-outs in Germany and Belgium continue to generate opposition. The German government has received escalating calls from major business leaders to delay plans to implement a full-scale shutdown by 2022. Climate protection and availability of affordable baseload generating capacity have been cited in support of nuclear energy in the country. Meanwhile, the Belgian grid operator has advised that Belgium is not ready for any scenario where nuclear power plants are closed. The current shutdown schedule has all Belgian reactors closed by the end of 2025, however, the grid operator has stated that a serious capacity crisis would result even allowing for a more gradual closure schedule.
Japan’s government has adopted a new energy policy that suggests the country must rely on a larger share of nuclear and renewables to slash its carbon emissions and meet its target of a 26% reduction by 2030. The move comes as operation of re-started nuclear plants is threatened by delays in completion of anti-terrorism protection work. A failure to meet deadlines imposed by the Nuclear Regulation Authority could result in several reactors being forced to shut down until the work is completed.
Officials have reported that China could build as many as 30 overseas reactors by 2030 via rollout of the country’s “Belt and Road Initiative”. Exports of nuclear power technology has been adopted as a state strategy with financial and policy support currently under development.
Yours faithfully,
Paladin Energy Ltd
Strong demand growth for nuclear energy driven by global decarbonisation 4 Second largest source of global clean energy with almost zero carbon emissions
1 The only long-term viable source of low carbon emission baseload power Provides nearly half of the US’s clean energy 3 Small Modular Reactor developments advancing globally
1. World Nuclear Association (WNA)
2. EU Taxonomy Regulation
3. International Energy Agency (IEA)
4. US Inflation Reduction Act Recognised as a green source of energy in the EU2 Bipartisan political support in the US & IRA4 tax credits for clean energy Global reactor fleet set to grow significantly
No wood to burn / No wind will blow / the sun is dim / Quality Nuclear will maintain out standard / accustomed living.
From Paladin November 2023 AGM.
Unlike lithium the world has a structural supply problem with uranium.