Uranium is crucial for nuclear power generation, supplying 10% of global electricity. The largest recoverable uranium resources are held by Australia, Kazakhstan, Canada, Russia, and Namibia. Major uranium consumers rely on imports due to limited domestic production, leading to significant international trade in uranium products.
The safety of nuclear reactors is a subject of debate. While incidents like Three Mile Island, Chernobyl, and Fukushima have had impacts on human health and the environment, the overall risks of radiation exposure are considered small. Advancements in technology and regulations have significantly reduced the frequency of core damage incidents. Nuclear power is an important low-carbon energy source, but opinions differ on its safety compared to fossil fuels and renewables.
Nuclear power plant construction has shifted to countries like China, India, Russia, and South Korea. Around 64 GW of new nuclear capacity is currently under construction, with China leading the way. An additional 177 GW has been announced globally. Some countries see nuclear power as a low-carbon option to meet climate goals. Factors such as economics and geopolitical considerations will determine how much new nuclear capacity actually gets built.