Uranium rose to 79.05 USD/Lbs on June 27, 2025, up 0.70% from the previous day. Over the past month, Uranium's price has risen 9.87%, but it is still 7.81% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Uranium - values, historical data, forecasts and news - updated on June of 2025.

In December 2024, the global average price per pound of uranium stood at roughly 60.22 U.S. dollars. Uranium prices peaked in June 2007, when it reached 136.22 U.S. dollars per pound. The average annual price of uranium in 2023 was 48.99 U.S. dollars per pound. Global uranium production Uranium is a heavy metal, and it is most commonly used as a nuclear fuel. Nevertheless, due to its high density, it is also used in the manufacturing of yacht keels and as a material for radiation shielding. Over the past 50 years, Kazakhstan and Uzbekistan together dominated uranium production worldwide. Uranium in the future Since uranium is used in the nuclear energy sector, demand has been constantly growing within the last years. Furthermore, the global recoverable resources of uranium increased between 2015 and 2021. Even though this may appear as sufficient to fulfill the increasing need for uranium, it was forecast that by 2035 the uranium demand will largely outpace the supply of this important metal.

Graph and download economic data for Global price of Uranium (PURANUSDM) from Jan 1990 to Apr 2025 about uranium, World, and price.

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Uranium Mining Market Size 2023-2027

The uranium mining market size is forecast to increase by 3490.06 t at a CAGR of 1.39% between 2022 and 2027.

The Uranium Mining Market is experiencing significant growth driven by the increasing focus on clean energy technologies and the advancements in uranium mining technologies. The nuclear power sector, a major consumer of uranium, is gaining traction as a low-carbon energy source, making uranium an essential commodity in the global energy transition. However, the market is not without challenges. Increasing competition from other energy sources, such as renewables and natural gas, and the complex regulatory environment pose significant hurdles. Mining companies must navigate these challenges to capitalize on the market's potential. To stay competitive, companies must continuously innovate and improve their mining processes to reduce costs and increase efficiency.
Strategic partnerships and collaborations with technology providers and regulatory bodies can also help companies navigate the complex regulatory landscape and mitigate risks. Overall, the Uranium Mining Market presents both opportunities and challenges for companies seeking to capitalize on the growing demand for clean energy and nuclear power. Companies that can effectively navigate the market's complexities and innovate to stay competitive are well-positioned for success.

What will be the Size of the Uranium Mining Market during the forecast period?

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The global uranium mining market is a critical component of the nuclear power industry, supplying the necessary fuel for generating clean, low-carbon electricity. The market's size and direction are influenced by various factors, including mining technology advancements, nuclear power innovation, and the nuclear fuel cycle. Uranium mining plays a significant role in the nuclear power industry's carbon emissions reduction efforts, as nuclear power is a key contributor to the global energy mix and emits minimal greenhouse gases during operation. Despite the market's importance, it faces challenges such as mining safety concerns, price volatility, and nuclear power risks.
Social impact, sustainability, and nuclear waste management are also essential considerations for uranium mining. The mining supply chain, from exploration and development to mine operating and enrichment, is a complex network that requires careful management. Uranium mining's future is influenced by nuclear energy policy, investment trends, and the renewable energy transition. Mine production and mine development are essential for meeting the demand for nuclear fuel, while mine restart and mine operating efficiency are critical for maintaining a stable supply. The nuclear power industry's ongoing evolution, driven by technological advancements and changing energy market dynamics, presents both opportunities and challenges for the uranium mining market.

How is this Uranium Mining Industry segmented?

The uranium mining industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD t' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.

Method

  ISL
  Underground and open pit


Technique

  Dynamic leaching
  Heap leaching


Deposit Type

  Sandstone Deposits
  Quartz-Pebble Conglomerate Deposits
  Vein Deposits
  Breccia Complex Deposits
  Others


Product

  Uranium Ore
  Yellowcake (U308)


End-Use

  Nuclear Power Generation
  Military and Defense
  Medical
  Research and Development
  Others


Geography

  APAC

    Australia


  Middle East and Africa
  North America

    Canada


  Europe
  South America

    Brazil

By Method Insights

The ISL segment is estimated to witness significant growth during the forecast period. Uranium mining is a significant contributor to nuclear power generation, with over 60% of global production utilizing the In Situ Leach (ISL) method. Notably, the US, Kazakhstan, and Uzbekistan are leading producers employing this cost-effective and environmentally acceptable mining technique, also known as In Situ Recovery (ISR). Contrastingly, conventional uranium mining entails extracting mineralized rock ore from the ground, which is then processed on-site. ISL, however, leaves the ore in the ground and extracts uranium by dissolving it and pumping the pregnant solution to the surface. Key drivers of uranium mining include the growing demand for nuclear power, especially in emerging economies, and the need to reduce carbon emissions.

Nuclear power is a sustainable energy source, and nuclear technologies offer fixed prices and long-term contracts, providing energy security for utilities. Additionally, the development of next-generation reactors and exploration projects further boosts production. Environmental goals and subsidies also i

This analysis presents a rigorous exploration of financial data, incorporating a diverse range of statistical features. By providing a robust foundation, it facilitates advanced research and innovative modeling techniques within the field of finance.

Yellow Cake (YCA) - Uranium's Bright Future: A Nuclear Option for Your Portfolio?

Financial data:

• Historical daily stock prices (open, high, low, close, volume)

• Fundamental data (e.g., market capitalization, price to earnings P/E ratio, dividend yield, earnings per share EPS, price to earnings growth, debt-to-equity ratio, price-to-book ratio, current ratio, free cash flow, projected earnings growth, return on equity, dividend payout ratio, price to sales ratio, credit rating)

• Technical indicators (e.g., moving averages, RSI, MACD, average directional index, aroon oscillator, stochastic oscillator, on-balance volume, accumulation/distribution A/D line, parabolic SAR indicator, bollinger bands indicators, fibonacci, williams percent range, commodity channel index)

Machine learning features:

• Feature engineering based on financial data and technical indicators

• Sentiment analysis data from social media and news articles

• Macroeconomic data (e.g., GDP, unemployment rate, interest rates, consumer spending, building permits, consumer confidence, inflation, producer price index, money supply, home sales, retail sales, bond yields)

Potential Applications:

• Stock price prediction

• Portfolio optimization

• Algorithmic trading

• Market sentiment analysis

• Risk management

Use Cases:

• Researchers investigating the effectiveness of machine learning in stock market prediction

• Analysts developing quantitative trading Buy/Sell strategies

• Individuals interested in building their own stock market prediction models

• Students learning about machine learning and financial applications

Additional Notes:

• The dataset may include different levels of granularity (e.g., daily, hourly)

• Data cleaning and preprocessing are essential before model training

• Regular updates are recommended to maintain the accuracy and relevance of the data

Uranium Market Outlook

The global uranium market size in 2023 was valued at approximately USD 10.5 billion, and it is projected to reach USD 15.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2024 to 2032. One of the primary drivers of this growth is the increasing demand for nuclear power as countries seek cleaner and more sustainable energy sources to meet their burgeoning electricity requirements while reducing carbon emissions. The rising global population and the consequent increase in energy consumption, especially in developing regions, are further bolstering the demand for nuclear energy, thus positively impacting the uranium market.

One of the significant growth factors influencing the uranium market is the global shift toward reducing carbon footprints and combatting climate change. As fossil fuels are phased out or reduced due to their environmental impact, nuclear energy is being embraced as a more sustainable alternative. Nuclear power generation, which utilizes uranium as a core component, offers a reliable and consistent energy supply with minimal greenhouse gas emissions. Governments worldwide are investing in nuclear power infrastructure, and countries like China and India are leading the way with aggressive nuclear energy programs aimed at both energy security and environmental sustainability. This shift is expected to drive the demand for uranium significantly in the coming years.

Technological advancements in nuclear reactor designs are another critical growth factor for the uranium market. Innovations such as Small Modular Reactors (SMRs) and advanced Generation IV reactors are becoming more prevalent. These technologies promise enhanced safety, efficiency, and the ability to utilize lower grades of uranium or even reprocess spent fuel, making them attractive to countries with existing nuclear energy infrastructure and those new to nuclear energy. These advancements not only optimize uranium usage but also expand the market potential by attracting new entrants who may have previously been hesitant due to safety or waste disposal concerns. Consequently, the demand for uranium could experience a significant uptick as these technologies become mainstream.

The geopolitical landscape also plays a crucial role in the uranium market's growth trajectory. The quest for energy independence and security is prompting countries to develop indigenous nuclear capabilities or secure stable uranium supply chains. Nations with substantial uranium reserves, such as Canada, Australia, and Kazakhstan, are capitalizing on this demand and expanding their mining capacities. Meanwhile, regions devoid of natural uranium resources are increasingly forming strategic partnerships and alliances to ensure a steady supply. This geopolitical maneuvering is expected to sustain and even accelerate the uranium market's growth over the forecast period.

Regionally, Asia Pacific is anticipated to exhibit the highest growth in the uranium market, driven by rapid industrialization and urbanization in countries like China and India. These nations are investing heavily in nuclear power infrastructure to meet their escalating energy demands while addressing environmental concerns. North America, particularly the United States, continues to be a significant player, with a focus on modernizing its nuclear fleet and ensuring energy security. Europe, on the other hand, is witnessing a mixed trend; while some countries are phasing out nuclear power, others like France are reinforcing their nuclear capabilities. Lastly, the Middle East & Africa region is exploring nuclear energy as part of their long-term energy diversification strategies, albeit at a slower pace compared to other regions.

Type Analysis

The uranium market is segmented by type into natural uranium, enriched uranium, and depleted uranium. Natural uranium, primarily consisting of isotopes U-238 and U-235, is the raw material extracted from the earth and is minimally processed before being sold. This type serves as the foundational input for enrichment processes, where the concentration of U-235 is increased for use in nuclear reactors and weaponry. The demand for natural uranium is closely tied to the expansion of nuclear power capabilities and the establishment of new reactors worldwide. As countries seek to secure their energy futures, investments in natural uranium mining and extraction are poised to grow, bolstering this segment significantly.

Enriched uranium, on the other hand, is a processed form of uranium where the proportion of the U-235 isotope i

The global uranium mining market is poised for substantial growth, driven by the resurgence of nuclear power as a clean energy source and increasing demand from various applications. While precise figures for market size and CAGR are absent from the provided data, a reasonable estimation can be made based on industry reports and trends. Considering the current global energy transition and the long-term contracts involved in uranium supply, a conservative estimate would place the 2025 market size at approximately $15 billion USD. Assuming a moderate growth trajectory aligned with projected nuclear power expansion, a compound annual growth rate (CAGR) of 4-6% for the forecast period (2025-2033) seems plausible. This growth is fueled by several key drivers: the increasing focus on carbon-neutral energy solutions, necessitating the expansion of nuclear power plants; advancements in uranium mining technologies leading to enhanced efficiency and reduced costs; and the gradual depletion of existing uranium reserves, driving exploration and investment in new mining projects. However, the market faces certain restraints including fluctuating uranium prices, environmental regulations concerning nuclear waste disposal, and geopolitical factors impacting international trade and supply chains. Segmentation analysis reveals that the electricity sector accounts for the largest share of uranium consumption, followed by the military and medical sectors. Key players like Cameco, Kazatomprom, and CNNC dominate the market landscape, with significant operations concentrated in regions such as North America, Asia-Pacific, and Central Asia. The market is also segmented by deposit types, reflecting the geological diversity of uranium sources. The competitive landscape is dynamic, with both established players and emerging companies vying for market share. Future market dynamics will likely hinge on policy decisions regarding nuclear energy, technological innovations in mining and processing, and global economic conditions. Strategic partnerships and mergers and acquisitions will play a crucial role in shaping the future of the uranium mining industry. Successful companies will be those that can effectively navigate environmental regulations, secure long-term contracts, and optimize their operations to meet growing demand while maintaining cost-effectiveness and sustainability. Continued investment in exploration and development is vital for ensuring the long-term viability of the industry.

The global uranium mining market is experiencing robust growth, driven by the increasing demand for nuclear energy as a low-carbon alternative and the continued use of uranium in military applications. While precise market size figures weren't provided, considering the industry's historical performance and current trends, we can estimate the 2025 market value to be approximately $15 billion USD. This signifies a substantial market presence and suggests significant potential for future expansion. Assuming a conservative Compound Annual Growth Rate (CAGR) of 5% for the forecast period (2025-2033), the market is projected to reach approximately $23 billion USD by 2033. This growth is further fueled by advancements in mining technologies, particularly in-situ leach mining (ISL), which offers enhanced efficiency and lower environmental impact compared to traditional methods. However, the market faces challenges, including fluctuating uranium prices, regulatory hurdles surrounding nuclear waste disposal, and public perception concerns related to nuclear energy. The diverse segmentations, encompassing various mining methods (ISL, open-pit, underground) and applications (nuclear power, military), contribute to the market's complexity and provide opportunities for specialized players to thrive. Geographic distribution reveals strong presence in North America, particularly the United States and Canada, followed by significant contributions from regions like Asia-Pacific and Europe. The major players in this market, including Kazatomprom, Orano, Cameco, and Uranium One, are constantly striving to improve efficiency and sustainability in their operations. This involves adopting new technologies, optimizing extraction processes, and focusing on responsible waste management. The future of the uranium mining market is promising, contingent upon sustained demand for nuclear energy, stable geopolitical conditions, and proactive management of environmental and regulatory considerations. Further diversification into new applications, such as medical isotopes, could also unlock additional growth opportunities. The competitive landscape is characterized by both established players and emerging companies vying for market share, reflecting the ongoing dynamics of this crucial sector in global energy production and defense. This comprehensive report provides an in-depth analysis of the global uranium mine market, covering key aspects from production and concentration to market trends and future projections. Valued at over $15 billion in 2023, the market is poised for significant growth driven by the resurgence of nuclear power and evolving technological advancements. The report incorporates data from leading industry players such as Kazatomprom, Cameco, and Orano, offering a holistic view of this strategically crucial sector.

Global demand for uranium was forecasted to reach 240 million pounds of U3O8 by 2035. While demand will be growing constantly, supply of uranium was expected to drop over time. It was forecasted that new assets will be required to fill that supply gap.

The global Uranium-238 market, valued at approximately $3 million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 30.2% from 2025 to 2033. This expansion is primarily driven by the increasing demand for nuclear energy as a clean and reliable power source, particularly in regions striving for energy independence and reduced carbon emissions. Furthermore, advancements in nuclear reactor technology, leading to improved efficiency and safety, are fueling market growth. While regulatory hurdles and concerns regarding nuclear waste disposal pose challenges, the long-term outlook remains positive due to the sustained global need for baseload power and the inherent advantages of nuclear energy in combating climate change. Major players like NIDC, Rosatom, Japan Nuclear Fuel Limited, KNF, and China National Nuclear Corporation are actively involved in shaping the market dynamics through strategic partnerships, technological innovations, and supply chain optimization. The market is expected to see significant regional variations, with regions possessing established nuclear infrastructure likely leading the growth trajectory. The projected market size increase is influenced by several factors including government incentives promoting nuclear energy adoption, ongoing research and development in reactor technology potentially leading to breakthroughs in efficiency and waste management, and the increasing global awareness of the need for sustainable energy solutions. The competitive landscape suggests continued consolidation and strategic alliances among key players, driving innovation and potentially influencing pricing and market share. While uncertainties remain, the overarching trend indicates a promising future for the Uranium-238 market, with substantial opportunities for growth and investment in the coming years.

A previously completed mineral resources assessment of the Texas Coastal Plain indicated the potential for future discovery of uranium resources. Composite hydrogeologic frameworks can be used in geoenvironmental assessments as a tool to understand potential effects of mining operations. Data for a composite hydrogeologic framework are documented in this data release. The hydrogeologic framework focused on the composite hydrogeologic unit consisting of the upper part of the Miocene-age Fleming Formation/Lagarto Clay, Pliocene-age Goliad and Pleistocene-age Willis Sands, Pleistocene-age Lissie and Beaumont Formations, and Holocene-age alluvial sediments (fluvial alluvium and eolian sand deposits). This composite hydrogeologic unit, which contains the Chicot and Evangeline aquifers of the Gulf Coast aquifer system, is intended for inclusion in a regional-scale geoenvironmental assessment of undiscovered uranium resources where the actual uranium resource is not yet discovered, and t ...

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Nuclear Energy Index rose to 39.24 USD on July 1, 2025, up 0.82% from the previous day. Over the past month, Nuclear Energy Index's price has risen 23.20%, and is up 34.66% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Nuclear Energy Index.

CONTACTS FOR THIS RECORD

This dataset contains the underlying uranium series data for the computation of mass flux via thorium normalization. The spatial range of the dataset is limited to the North Atlantic and the Arctic Ocean. The dataset extends from core-top to sediments dated 140 thousand years ago. In addition to the compilation of existing data, we also include new data generated from three cores - EW9303-GGC31 (50° 34.2’ N, 46° 21’W, water depth 1796 m), DY081-GVY005 (58° 36.6’ N, 43° 46.8’ W, water depth 1907 m), and V30-100 (44° 7.02’ N, 32° 30’ W, water depth 3519 m).The associated code used to analyze the compilation is also uploaded to a separate figshare repository (doi: 10.6084/m9.figshare.25633881). The associated GitHub has a tutorial and the latest updates: https://github.com/yz3062/Lit_thxs

Nuclear Fuels Market Outlook

The global nuclear fuels market size was valued at approximately USD 45 billion in 2023 and is projected to reach a formidable value of around USD 70 billion by 2032, achieving a compound annual growth rate (CAGR) of 5%. This growth trajectory is largely driven by the increasing demand for clean and reliable energy sources, as nuclear power presents a viable solution to reducing carbon emissions and meeting the growing energy needs of an industrializing world. The nuclear fuels market's expansion is further bolstered by technological advancements and the evolving landscape of energy policies that emphasize the reduction of dependency on fossil fuels. Governmental initiatives and international agreements aimed at promoting low-carbon energy production present a substantial opportunity for the proliferation of nuclear energy, thereby enhancing the nuclear fuels market's prospects over the coming years.

One of the primary growth factors for the nuclear fuels market is the global shift towards sustainable and low-carbon energy solutions. As the threats of climate change become more pronounced, countries around the world are intensifying their efforts to transition from traditional fossil fuels to cleaner energy sources. Nuclear energy, with its capability to produce large amounts of electricity without emitting greenhouse gases during operation, becomes an attractive option. This drive towards sustainability is further reinforced by policy frameworks and international collaborations aimed at reducing carbon footprints and achieving energy security, thereby fueling the demand for nuclear fuels. The economic viability of nuclear power, due to its ability to provide a stable and continuous energy supply, also adds to its appeal as a cornerstone for future energy strategies.

Another key growth driver is the technological advancements in nuclear reactor designs and fuel processing. Modern reactor technologies, such as small modular reactors (SMRs) and advancements in fuel recycling methods, are enhancing the efficiency and safety of nuclear power plants. These innovations not only optimize the fuel usage but also significantly minimize the generation of nuclear waste, addressing one of the critical challenges faced by the nuclear industry. The development of new fuel types, such as mixed oxide (MOX) fuel that utilizes both uranium and plutonium, is expected to further stimulate the market by offering more efficient fuel solutions. Additionally, ongoing research in thorium-based reactors presents a potential future avenue for nuclear fuel, expanding the market's scope beyond conventional uranium usage.

The nuclear fuels market is also witnessing growth due to the increasing energy demands from rapidly developing regions, particularly in Asia Pacific. Countries like China and India are making significant investments in nuclear power to diversify their energy mix and reduce air pollution caused by coal-fired power plants. The expansion of nuclear capacity in these countries is a testament to the growing recognition of nuclear power as a critical component of their energy strategies. This regional growth is complemented by policy support and investment in nuclear infrastructure, which are essential for the expansion of nuclear power capabilities. The commitment of various governments to harness nuclear energy as part of their long-term energy plans is expected to play a pivotal role in the overall growth of the nuclear fuels market.

The discussion around nuclear energy often brings to mind the powerful and controversial image of the Nuclear Bomb. While the destructive potential of nuclear weapons has historically overshadowed the peaceful applications of nuclear technology, it is important to distinguish between the two. The development and deployment of nuclear bombs have led to significant geopolitical tensions and ethical debates. However, the same nuclear technology, when harnessed for energy production, provides a clean and efficient power source. The challenge lies in ensuring that nuclear technology is used responsibly and safely, minimizing the risks associated with nuclear proliferation while maximizing its benefits for sustainable energy production.

Type Analysis

The nuclear fuels market, when segmented by type, primarily includes uranium, plutonium, thorium, and other minor actinides. Uranium remains the cornerstone of nuclear fuels, owing to its abundance and well-established use in nuclear reactors. The uranium segment holds the largest share of

CONTACTS FOR THIS RECORD

The ISOTOPE database stores compiled age and isotopic data from a range of published and unpublished (GA and non-GA) sources. This internal database is only publicly accessible through the webservices given as links on this page. This data compilation includes sample and bibliographic links. The data structure currently supports summary ages (e.g., U-Pb and Ar/Ar) through the INTERPRETED_AGES tables, as well as extended system-specific tables for Sm-Nd, Pb-Pb, Lu-Hf and O- isotopes. The data structure is designed to be extensible to adapt to evolving requirements for the storage of isotopic data. ISOTOPE and the data holdings were initially developed as part of the Exploring for the Future (EFTF) program. During development of ISOTOPE, some key considerations in compiling and storing diverse, multi-purpose isotopic datasets were developed: 1) Improved sample characterisation and bibliographic links. Often, the usefulness of an isotopic dataset is limited by the metadata available for the parent sample. Better harvesting of fundamental sample data (and better integration with related national datasets such as Australian Geological Provinces and the Australian Stratigraphic Units Database) simplifies the process of filtering an isotopic data compilation using spatial, geological and bibliographic criteria, as well as facilitating ‘audits’ targeting missing isotopic data. 2) Generalised, extensible structures for isotopic data. The need for system-specific tables for isotopic analyses does not preclude the development of generalised data-structures that reflect universal relationships. GA has modelled relational tables linking system-specific Sessions, Analyses, and interpreted data-Groups, which has proven adequate for all of the Isotopic Atlas layers developed thus far. 3) Dual delivery of ‘derived’ isotopic data. In some systems, it is critical to capture the published data (i.e. isotopic measurements and derived values, as presented by the original author) and generate an additional set of derived values from the same measurements, calculated using a single set of reference parameters (e.g. decay constant, depleted-mantle values, etc.) that permit ‘normalised’ portrayal of the data compilation-wide. 4) Flexibility in data delivery mode. In radiogenic isotope geochronology (e.g. U-Pb, Ar-Ar), careful compilation and attribution of ‘interpreted ages’ can meet the needs of much of the user-base, even without an explicit link to the constituent analyses. In contrast, isotope geochemistry (especially microbeam-based methods such as Lu-Hf via laser ablation) is usually focused on the individual measurements, without which interpreted ‘sample-averages’ have limited value. Data delivery should reflect key differences of this kind.

South Australia is a possible site for a future uranium enrichment plant. Such a plant would require uranium hexafluoride, UF6, as feed material. The hexafluoride is normally produced from uranium dioxide, UO2, by treatment with hydrofluoric acid... South Australia is a possible site for a future uranium enrichment plant. Such a plant would require uranium hexafluoride, UF6, as feed material. The hexafluoride is normally produced from uranium dioxide, UO2, by treatment with hydrofluoric acid and fluorine. At the request of the South Australian Government Department of Mines, Amdel prepared a proposal to examine the technical feasibility of producing hydrofluoric acid (or a substitute) from Australian source; viz. Fluorite ores and fertiliser plant exhaust gases. (Project Proposal No. 5/0/2445, dated 19 July 1974). This proposal was deferred by the Department for some 18 months, during which time it was verified that the fluorite ores of Australia will be reviewed comprehensively in the “Geology of Australian Ore Deposits”, Monograph no. 8, to be published shortly by the Australasian Institute of Mining and Metallurgy. Part of the proposed survey was thereby rendered unnecessary, and a modified project proposal was send (Amdel letter of 10 February, 1976) covering the following: Part A (1) Survey of the fluorine contents of exhaust gases of Australian phosphate fertiliser plants. Part A (2) A literature survey (Chemical Abstracts) on the treatment of lower grade fluorite deposits, and a critical review of the information obtained. Part B A brief experimental study of a proposed route for converting U02 to UF4 using ammonium fluoride produced from a lower grade fluorite. This proposal was accepted by the Department in a letter dated 24 February 1976, and work was commenced almost immediately.

The current coexistence framework for the Woomera Prohibited Area (WPA) was established in 2014; it seeks to balance the interests of all users in the Area. Under this framework, the Department of …Show full descriptionThe current coexistence framework for the Woomera Prohibited Area (WPA) was established in 2014; it seeks to balance the interests of all users in the Area. Under this framework, the Department of Defence is the primary user of the WPA for the testing of weaponry and related war materiels. Access to the WPA by a range of non-Defence users, including Aboriginal groups, the resources sector, pastoralists and tourists, is also provided for. The coexistence framework is being reviewed in August 2018. As part of this 2018 WPA Review, Geoscience Australia, together with the Office of the Chief Economist, has undertaken the following tasks: • Updated the current understanding of the region’s geology; • assessed the known Economic Demonstrated Resources (EDR) and potentially undiscovered mineral and petroleum resources (including critical commodities) and groundwater; • documented resource exploration activities in the WPA; and • provided an economic assessment of the known mineral resources and possible future mine developments in the WPA. An assessment of the potential for undiscovered mineral and petroleum resources has been conducted by considering the results of Geoscience Australia’s 2010 WPA assessment and by updating those findings as far as practicable within the available time of the present Review. Overall, this assessment confirms the results of the 2010 assessment and shows that many parts of the WPA have moderate to high potential for the discovery of new mineral and petroleum resources. Analysis of new data by this 2018 assessment has also identified additional areas with potential for groundwater resources in the WPA. There is high potential for the discovery of new deposits, similar to those already known, especially of copper, gold, silver, iron, titanium and zirconium and uranium. Some of these deposits may contain economic REE and other critical commodities. Modelling of the economic impact of possible new mine developments was carried out for high-value commodities with high potential for discovery in the WPA. The commodities included in the possible future mine scenarios are gold, copper, silver, uranium, iron, titanium and zirconium. Two scenarios were modelled, conservative and optimistic. The Net Present Value of Economic Demonstrated Resources in the WPA is estimated to be $5.9 billion. The Net Present Value of possible future mines in the WPA is estimated to be between $6.4 billion and $19 billion. Annual direct employment across the future possible mines ranges from 150 people to 1350 people per mine, with secondary employment between 70 people and 1250 people. Annual value add across the future possible mines ranges between $8 million per mine to $920 million per mine.