Marketing Uranium-New Energy Source

The uranium markets are at present well covered by available producers. However the predicted increase in demand, recently reinforc- ed by the Arab oil crisis, will by, the early 1980s'outdistance supply. Current trends are towards light water reactors with-fast breeder reactors not expected to make any significant impact to the mid 1980s. The proposed lifting of the US embargo on the use of foreign uranium in US reactors will expand the market available to non US producers. A balancing in supply and demand worldwide will probably occur in the early 1980s. Australia's potential producers at present hold about 20 percent of the worlds U308 resources. Three companies, have contracts to supply nearly 10 900 tonnes of U308 between now and 1986 which represents about 1 percent of the predicted demand to 1986. Australian producers need to establish themselves more firmly in the market place in order that other countries will not replace us. Contracts can be written now which will allow for world market prices to be paid in the future, thus protecting the Australian producer.