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The podcast discusses the US's dependence on Russian uranium for nuclear power, the efforts to build up domestic capabilities, and the reopening of a uranium conversion facility. It explores the challenges of reducing dependency on Russian uranium and the shifting geopolitical landscape in the uranium market.
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Quick takeaways
- The US is heavily dependent on Russian uranium for its nuclear power plants, which is a result of a commercial relationship established after the Cold War.
- To reduce this dependency, the US is working on rebuilding its uranium capabilities, including creating a domestic stockpile of nuclear fuel and supporting the development of small modular reactors.
Deep dives
Dependence on Russian Uranium
The US has been relying on Russia for much of its hard-to-enrich uranium needed for nuclear power plants. This dependency dates back to the end of the Cold War, where a commercial relationship was established to import Russian weapons-grade uranium for American nuclear power plants. However, recent events such as the Fukushima Daiichi nuclear disaster and the fracking boom in the US have led to a decline in the US uranium industry and the closure of several nuclear reactors. This has resulted in a limited domestic supply chain for uranium. Russia holds a significant share of the global enriched uranium market, supplying about a quarter of the fuel in US nuclear power plants.
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