With France leading the way, the nuclear energy development in Europe is on its way again. Germany is the only EU country, that after the Fukushima mega-disaster, has switched from nuclear power to alternative energy production.
The solar alternative proved even profitable is clouded Germany, but countries like France distract almost 75% of its electricity from nuclear power stations, feeding by uranium to function.
In the 1970’s, the uranium industry developed on the promise of strong growth in power generation, but found itself oversupplying the market and stockpiling reserves. As a result mines closed and production was scaled back. However things are changing again enhanced by the implemented decarbonisation treaties.
The nuclear power industry has good reasons to exist. Its unique circumstances promise low production costs. Therefore Spain is opening a new Salamanca uranium mine, three hours drive from Madrid. Salamanca is the only new mine of its kind and size being developed in the world today.
The uranium ore is high-grade and almost near the surface. Only 4 meter in places, and located in an area in Europe that has already had considerable investment in communication and power grids. The “European” citizens have already invested in a modern infrastructure, so they might as well get a return on that.
The operating cost of $13.30 per pound of uranium make Salamanca among the world’s lowest-cost producers and very profitable even with the current spot-prize @ $18 per pound. Nuclear energy looks set to take an important role in a carbon-free energy market.
If predictions for future demand materialise, oversupply will end by 2020, and there will be a major supply deficit for the next decade, for Salamanca to become a main producer. When the mine is fully operational, its predicted output will make it one of the top-10 global producers.
The company is keen to stress the quality of production from Salamanca compared with the likes of Niger and Kazakhstan.
With America focussing on the environmental risky risky shale-oil production and Europe back on its way to re-introduce nulcear power plants, it seems clear that all is aimed to sabotage and destroy the cheap Russian gas supplies and isolate Moscow from the energy scene.
The Telegraph / AA Magnum News 2017.