Don't forget the uranium! The current global requirement for uranium is 180-million pounds a year, while production is only at about 140-million pounds a year. This gap is forecast to increase over the next decade, particularly after the supply of mixed oxide fuels from military warheads from the US and Russia ends in 2013/14.
The number of reactors worldwide is also forecast to increase 30% by 2020. Currently there are 435 reactors in operation, while there are 62 under construction, 160 more planned and 329 proposed. China’s nuclear-power capacity alone is expected to double to 80-million kilowatts.
This may also result in higher prices for uranium in the medium term, possibly costing more than $80/lb from 2014 onwards. Yellowcake, another name for U3O8, has hovered around $51/lb over the past two months.