Name: Why Russia Dominates the Global Uranium Supply Chain
Uploaded: 2023-12-11T05:01:00Z
Duration: 6 min 20 s
Description: U.S. nuclear power plants got about 24% of their enriched uranium from Russia in 2022. As nuclear energy stages a comeback globally, the U.S. is reviving domestic uranium production to reduce the risk of a critical fuel shortage in the future. Graphic: Ryan Trefes

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U.S. nuclear power plants got about 24% of their enriched uranium from Russia in 2022. As nuclear energy stages a comeback globally, the U.S. is reviving domestic uranium production to reduce the risk of a critical fuel shortage in the future. Graphic: Ryan Trefes

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Why Russia Dominates the Global Uranium Supply Chain

Narrator: The US is the world's largest producer of nuclear power, but it depends on Russia. For about 24% of its enriched uranium, a key ingredient for nuclear fuel, even with enrichment facilities owned by friendly countries.

We still don't have enough if Russian supply was not available in the marketplace.

Narrator: That's why nuclear fuel is one of the few Russian energy sources not banned by the West as a result of the war in Ukraine, but...

Russia is incredibly willing to use energy as a weapon.

Narrator: Here's how the US is working to revive domestic production to reduce the risk of a critical fuel shortage in the future. Nuclear reactors generate nearly 20% of US electricity, but demand is quickly rising as the US races to meet its clean energy goals.

We're seeing it from our utilities. We're seeing it from oil, gas, chemical companies, big tech firms.

Narrator: But more nuclear energy requires more nuclear fuel, and the US currently lacks the capacity to produce its own. That's because uranium ore goes through four main processes to become nuclear fuel, and the US relies on other countries for three of those steps. First, raw uranium is mined out of the ground and milled. Then it's converted into a gas and enriched, increasing the percentage of the radioactive isotope. Finally, the uranium is fabricated into fuel pellets that are stacked inside metal fuel rods and loaded into a nuclear reactor. The US gets most of its uranium ore from Canada and Kazakhstan. Even though Russia isn't a leader, it is substantially involved in Kazakhstan's mining operations. There's only one US-owned converter and there's no US-owned enricher for the current fleet of nuclear reactors. Meanwhile, Russia dominates both of those steps.

We've seen that Russia is willing to use its energy resources as a tool of leverage. The sooner we can move ourselves away from that potential vulnerability, the better off we're all gonna be.

Narrator: In an effort to reshore as many steps of this supply chain as possible, a number of US companies are ramping up capacity. For example, mining company Energy Fuels is restarting this conventional uranium mine in La Sal, Utah. After signing long-term contracts with two nuclear utilities in 2022.

La Sal complex, as we call it, is a mine that dates back to the '50s and operated for 20, 30 years, and then it really kind of went dormant for a number of years.

Narrator: The last commercial production of uranium at La Sal was in 2014.

Now, with increasing uranium prices, we're going back into full production in 2024.

Narrator: Energy Fuels is currently hiring about 50 miners, purchasing and refurbishing equipment and doing maintenance work.

Our plans are to restart mining about 70,000 tons of uranium per year, at least initially, not quite enough for a single large-scale nuclear reactor.

Narrator: Chalmers says he doesn't expect uranium mining in the US to replace larger producers like Canada. Instead, he sees it as a way to diversify the country's sources of raw uranium.

With the contracts that we have, we can make nice margins, but we're gonna need higher uranium prices to justify restarting a production because every time we restart a mine, they get more expensive.

Narrator: Along with its mines, Energy Fuels also plans to restart White Mesa Mill in 2024, the only operating conventional uranium mill in the US. This is where uranium ore goes after its mind and before it goes to a conversion facility.

This came from La Sal Complex, and that's Utah. This came from New Mexico.

Narrator: On the enrichment front, Centrus Energy launched the only US-owned uranium enrichment plant earlier this year. It made its first delivery of high-assay, low-enriched uranium or HALEU to the US Department of Energy in November. HALEU will be used in the next generation of advanced reactors. Because these reactors are still being developed, many proponents of nuclear energy see the HALEU supply chain as an opportunity for the US to become a global leader.

When these advanced reactors were initially coming to market, their plan was to buy from Russia, which is the only commercial supplier of that fuel type today. In light of the Russian assault on Ukraine, those plans have changed.

Narrator: As part of the Inflation Reduction Act, $700 million was invested to support the development of a domestic supply chain for HALEU. Russia's dominance in the uranium supply chain can be traced back to a program called Megatons to Megawatts. The goal of this program was for Russia to downgrade the uranium from its nuclear weapons to levels needed for nuclear reactors, and then sell that fuel to the US for cheap.

Since 2013 when that program expired, we've still had a lot of commercial activity with Russia because of those strong commercial relationships that had been built up.

Narrator: In the '90s, the US also privatized its uranium enrichment operations, but without federal support, the country's two enrichment facilities eventually had to be shut down. Kotek says one of the biggest challenges of building up domestic capability is giving companies the confidence that their investments will pay off.

Federal support, we think is crucial.

There's no such thing as a nuclear fuel cycle without some level of government support. Russia is really operating as a state-owned enterprise.

Narrator: Kotek says the industry needs federal investment in both infrastructure and long-term contracts with utility companies. Utilities are the owners and operators of nuclear reactors that pay for each step of this process. In October, the Biden administration sent a proposal to Congress to invest around $2 billion to improve long-term domestic enrichment capabilities.

We requested this as an administration because it is a high priority. In the long term, we would like to see this commercial industry stand on its own without consistent and forever federal investment.

Narrator: A bipartisan group in Congress is also pushing legislation to ban US use of Russian uranium.

Nothing happens quickly in the nuclear fuel cycle. When you lose your capabilities like we've done in the United States, you're looking at probably 10 to 15 years plus to reestablish those capabilities.

It's important to invest quickly so that it's an aggressive expansion and we don't run out of uranium before we need it.

Meeting the fuel demands for both today's plants and new plants are gonna require a lot of investment in all of those technologies.