International Symposium on Uranium Raw Material for the Nuclear Fuel Cycle: Exploration, Mining, Production, Supply and Demand, Economics and Environmental Issues (URAM-2018)

Regulations for the diversification of partners as part of the security of supply policy

25 Jun 2018, 14:00

20m

Vienna

ORAL Track 2. Uranium markets Uranium Markets

Speaker

Mr Riaz Rizvi (Kazatomprom, Republic of Kazakhstan)

Description

In the current uranium industry conditions, the stable and sustainable natural uranium and uranium fuel supply is becoming crucial. It can be achieved through the mandatory diversification of uranium suppliers portfolio regulations issued by IAEA for the utilities. Some countries and utilities experience such constraints, when they are not able to procure uranium through different sources, because of some regulations of their arrangements with strategic counterparties. We can take as an example some utilities working in the market, the natural uranium supplier portfolio of which is diversified by means of their own corporate policies, e.g. where they allow not more than 10% of their needs to be fulfilled by the uranium producers with a single mining source, and not more than 20% of their requirements procured from the producers with more than one sustainable mine. Given the prevailing situation on the market, the international political situation, as well as ensuring the stability of fuel supplies for sensitive facilities such as nuclear power plants, it seems advisable to introduce international rules on the mandatory diversification of supplies of natural uranium and uranium fuel for the needs of energy companies.