Uranium supply constraints may challenge global nuclear expansion plans
The IAEA’s Nuclear Technology Review 2026 states that uranium production from existing mines is forecast to decrease by at least 50 per cent by 2040, while global uranium requirements could increase by 50 to 144 per cent by 2050. It says new mines and expansions or reopenings will be required for future supply assurance, and that developing a new uranium mine typically takes 10 to 15 years. The report also flags insufficient conversion capacity and unevenly distributed enrichment capacity in the global nuclear fuel supply chain.
Why it matters: The projected gap between uranium demand and mine output makes fuel supply security a constraint on nuclear expansion, a central energy security concern.