FRONT END OF THE FUEL CYCLE.

Abstract

The front end of the fuel cycle is presently in oversupply and likely to remain so for a number of years. This condition is forcing a major restructuring of the uranium mining industry, with many U. S. mines being replaced by lower cost orebodies, principally from Saskatchewan and Australia. The process of shrinking supply is likely to bring production and consumption roughly into balance by the turn of the decade. Some danger lurks behind the depressed market conditions that - even though adequate uranium reserves exist - pressure on production capacity might develop at some stage, causing a tightness in the market. This could, however, be avoided easily by sensible actions taken in a timely manner by the producers and consumers, which together form the uranium industry.