Uranium (U), a naturally occurring heavy metal, is a primary raw material fuelling nuclear reactors today. Countries around the world rely on it to generate low-carbon electricity, process heat and hydrogen. These could all serve as part of national strategies to reduce carbon emissions, and increase energy security and supply.
Simplified view of the nuclear fuel cycle
Ensuring a secure supply of nuclear fuel depends on reliability throughout the process that transforms uranium ore into reactor fuel: mineral exploration, mining and milling to produce U3O8; conversion to produce uranium hexafluoride - UF6 (for most light‑water reactors); enrichment to low-enriched uranium - LEU (typically ≤5% U‑235); deconversion and fabrication into certified fuel assemblies; and all associated logistics, safeguards and quality assurance. Each stage has its own dynamics, regulations and timelines. A delay or disruption in one step can affect the entire supply chain.
The Joint NEA/IAEA Uranium Group (UG) brings together experts from governments, industry and research organizations to monitor global uranium developments. Its main task is producing the biennial Uranium Resources, Production and Demand — widely known as the “Red Book” — which has been the authoritative reference on uranium supply and demand since 1965. In addition to compiling government-sourced data, the group reviews topics such as environmental practices in uranium mining and monitors trends that could impact the industry. The Agency also publishes studies on emerging challenges, including High-Assay Low-Enriched Uranium: Drivers, Implications and Security of Supply. Work is also under on the new analyses such as the forthecoming “Orange Book” that covers key stages of the front end of the fuel cycle through a comprehensive, multidisciplinary assessment of the nuclear fuel supply chain (from exploration and mining to fuel fabrication), tailored to the needs of OECD member countries and other partners.
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