Key Minerals of the African Continent: The US Reinstates Uranium on Its List of Critical Minerals, Accelerating Nuclear Energy Development

¬ The US has reinstated uranium on its list of 60 critical minerals

¬ Global uranium demand is expected to exceed 150,000 tons by 2040

¬ This move reflects the US efforts to ensure nuclear fuel supply

The U.S. Geological Survey (USGS) released an updated list of critical minerals on Thursday, November 6, adding uranium back to the list of 60 minerals deemed vital to national interests. Previously, uranium was not included in the 2022 list.

This decision comes as global demand for nuclear fuel is expected to rise significantly due to the energy transition. The World Nuclear Association (WNA) stated that uranium demand from nuclear reactors could exceed 150,000 tons by 2040.

Meanwhile, the World Nuclear Association warned earlier this year that global uranium production reached 60,213 tons in 2024 and may fall by half after 2030. The reclassification of uranium highlights Washington's growing emphasis on supply security.

The U.S. list of critical minerals is updated at least every three years to assess national security risks and guide policies to strengthen supply chains. The USGS said that uranium's inclusion on the list is based on a presidential order issued this year, which required it to be added to the 2025 list.

Although Washington has not detailed the reasons for its decision, the US previously committed at the 28th UN Climate Change Conference (COP28) to double global nuclear power capacity by 2050. However, how this commitment will translate into action remains to be seen, as the US still heavily relies on imported uranium to meet domestic demand.

At the same time, the US is seeking new sources of uranium, especially in Africa. In August this year, the operator of the Tiris uranium project in Mauritania, Aura Energy, announced an agreement with a "U.S. power company," which will supply 10% of the mine's planned output between 2028 and 2031.

Source: ecofinagency

Original: www.toutiao.com/article/1848448368743434/

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