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Uranium Overview

Unlike most metals that are mined for multiple uses and multiple markets, uranium currently has one use only - to fuel nuclear reactors. Consequently the number of customers of uranium is small, some hundred power utilities worldwide that own an estate of 440 reactors.

However, the market for uranium is expected to grow in both size and value because of the increasing importance of nuclear power in generating electricity, some 17% of the world's electricity supply in 2004. World electricity demand is expected to double by 2030, oil prices are rising and nuclear reactors offer the only large-scale source of clean energy that will allow nations to meet the requirements of the Kyoto environmental emissions protocol.