This report contains the first International Atomic Energy Agency projection of uranium supply and demand to 2050 and provides an understanding of how some alternative uranium supply scenarios could evolve over the period. The analysis is based on the current knowledge of uranium resources and production facilities, and takes into account the premise that they can operate with minimal environmental impact and employ the best practices in planning, operations, decommissioning and closure.

The U.S. Department of Energy, Energy Information Administration (EIA) joined with the U.S. Department of the Interior, U.S. Geological Survey (USGS) to analyze the world uranium supply and demand balance. To evaluate short- term primary supply (0-15 years), the analysis focused on Reasonably Assured Resources (RAR), which are resources pro- jected with a high degree of geologic assurance and considered to be economically feasible to mine. Such resources include uranium resources from mines currently in production as well as resources that are in the stages of feasibility or of being permit- ted. Sources of secondary supply for uranium, such as stockpiles and reprocessed fuel, were also examined. To evaluate long- term primary supply, estimates of uranium from unconventional and from undiscovered resources were analyzed.