Background
As we look ahead to the next decades, especially in light of the first global stock-take at COP28 and the declaration made by more than 30 countries to work towards tripling global nuclear energy capacity by 2050, it is crucial to recognize every step of the fuel supply chain. From raw materials to fuel fabrication, every segment of the nuclear fuel cycle’s front end will face rising demand. While industrial capacities to convert, enrich and fabricate conventional nuclear fuels already exist worldwide, operators will need to ensure long term operations by investing in upgrades and streamlining processes to enhance efficiency whilst decreasing operational costs and minimizing waste generation. However, industrial capacities to convert, enrich, and fabricate advanced nuclear fuels—such as uranium enriched up to 10% for the current reactor fleet, or high-assay low-enriched uranium (HALEU, up to 20%) for advanced reactors, including small modular reactors (SMRs)—still need to be deployed or expanded. Major investments along with licensing and construction efforts are needed to meet the growing demand of the front end of the supply chain, particularly if the construction of new reactors increases worldwide.
World annual reactor-related uranium requirements are projected to rise to between around 90,000 tonnes per year to 142,000 tonnes per year by 2050. According to the 2024 edition of the joint IAEA?NEA report Uranium Resources, Production and Demand (commonly referred to as the Red Book), around 7.9 million tonnes of identified recoverable uranium resources are available at costs below 130 USD/kgU as of January 2023. However, the path from identifying uranium deposits to producing yellow cake for conversion can take decades. If planned and prospective production does not come online, or if new deposits are not discovered and mined, a supply shortfall in primary uranium production could begin as early as the late 2020s. It is assumed that secondary uranium supplies will alleviate such shortfalls, but secondary supplies are dwindling. New fuel designs, based on HALEU, especially for the deployment of some SMR designs, will increase the demand for uranium. Therefore, timely investments in new exploration, mining operations and processing techniques will be essential to ensure that uranium becomes available to the market when it is needed. Increased interest in thorium based reactors may drive the need to better understand the thorium resource base.
Advanced nuclear fuels and materials play a crucial role in the deployment and operation of nuclear power. For existing reactors, key objectives include enhancing economic viability by achieving higher burnup rates, extending fuel cycle durations from 12 to 18 and 24 months, and improving fuel reliability by minimizing failures. Advanced Technology Fuels (ATFs), which incorporate new cladding and fuel pellet designs, are being developed to enhance the safety, competitiveness, and economic feasibility of both current and future reactors. The development of innovative nuclear reactors, including SMRs, has accelerated research into new fuel design concepts, many of which require irradiation testing and examination under expected operating conditions before being qualified. Sharing good practices is essential to ensuring nuclear fuels perform reliably.
A life cycle approach, which is key to any circular economy, is also essential for the nuclear fuel cycle. The nuclear industry is learning from other sectors while sharing its technologies and good practices. A circular economy approach applied to the recovery of uranium and thorium from conventional and unconventional resources, as well as mining and processing wastes, tailings and residues, would benefit the nuclear industry by improving the availability of uranium and thorium resources while supporting environmental, social and governance objectives within the nuclear industry. At the back end of the nuclear fuel cycle, some countries are actively working to fully close their nuclear fuel cycles by recycling valuable materials like reprocessed uranium (RepU) and plutonium, and by transmuting minor actinides. These examples show how a circular economy approach can both sustain energy production and minimize the waste burden for future generations.
Purpose and Objectives
The purpose of the event is to provide a forum, in the context of a renewed interest in nuclear power, for exchanging information on achievements, challenges, lessons learned and prospects concerning the nuclear fuel supply chain. It will help identify the nuclear industry needs (e.g. fissile/fertile materials, new fuel types that are more efficient and cost-effective, etc.) to meet the demand of the expected deployment of SMRs and other advanced reactors, as well as to fulfill ambitions to triple nuclear power capacity by 2050. The conference will also share and consider achievements, challenges, lessons learned, and prospects on the application of circular economy principles at the different stages of the nuclear fuel cycle. It will identify and prioritize current needs and sharing of information on the strategies and approaches that would enable and enhance environmentally friendly and cost beneficial practices. The conference will highlight the importance of addressing the societal expectations for minimizing waste burden as well as advancing sustainability in nuclear energy development.
Target Audience
The conference is designed for a broad range of stakeholders from IAEA Member States including technology developers, operators, regulators, governmental authorities, decision makers, industrials, R&D and technical support organizations among others.
Greening
To demonstrate its commitment to sustainability, the IAEA will organize this conference as a 'green meeting' according to the guidelines of the Austrian Ecolabel.
There will be a focus on the areas of paper smart documentation, waste reduction and recycling, and environmentally friendly catering.
