Curbing the Nuclear Debate – Why Uranium-Powered Energy Is Paving the Way to 2030
Between 1990 and 2018, global electricity demand doubled, and it is expected to roughly double again by 2050. This is particularly relevant – and potentially extremely challenging – as the EU targets climate neutrality by 2050 and the United States eyes the same goal.
Interim goals from the White House are set at a 50-52 percent reduction in carbon emissions (compared to 2005) by 2030, while the EU aims for a 55 percent reduction by the same year. It is clear that clean energy is in the spotlight more than it has ever been.
While frameworks and strategies have been clearly outlined, debates rage on about the viability of certain clean energy sources – most notably, nuclear power. Many experts, however, believe that the nuclear debate, in particular, is no longer relevant, and nuclear energy could well be one of the primary catalysts for a cleaner world.
Why go nuclear?
Major studies have concluded that nuclear power is not only safe, but far safer than any other major energy sources per kWh of energy produced. In fact, a report published by the Nuclear Energy Agency on “Comparing Nuclear Accident Risks with Those from Other Energy Sources” reveals that nuclear has the lowest number of direct fatalities of any major energy source (per kWh of energy produced).
Nuclear power plants produce energy through the fission process. This entails the use of low-enriched uranium fuel to produce electricity — by splitting uranium atoms in a nuclear reactor. Beyond safety and minimal environmental impact, this process is also extremely economically effective.
The uranium pellets used in the fission process, while only slightly larger than a common pencil eraser, each produces the same volume of energy as a ton of coal, with each pellet providing several years’ worth of active heat.
Investing in nuclear
Uranium is one of the world’s most abundant metals, but not every uranium deposit is economically recoverable. The highest-grade uranium deposits in the world are found in Saskatchewan’s Athabasca Basin, which is hugely instrumental in affirming Canada’s position as a leading global uranium producer.
For investors in clean energy-related commodities, uranium has proved to be a viable option, as the commodity has seen upward movement in the last 12 months, with continued growth expected in the year ahead.
At ground level
Fortune Bay Corp. has 100% ownership in two advanced gold exploration projects in Canada, Saskatchewan (Goldfields Project) and Mexico, Chiapas (Ixhuatán Project).
The Company is also advancing the 100% owned Strike and Murmac uranium exploration projects, located near the Goldfields Project, which have high-grade potential typical of the Athabasca Basin.
Dale Verran (M.Sc., P.Geo.), Fortune Bay’s Chief Executive Officer previously worked as Vice-President Exploration for Denison Mines for 7 years and was involved in two high-grade discoveries within the Athabasca Basin. He says, “Decarbonisation is no longer a pipe dream; it is in the process of being signed into law in several major economies around the world. We are proud to be well-positioned to make uranium discoveries in the prolific Athabasca Basin that could provide fuel to power the transition to cleaner energy.”
Verran concludes, “With our Strike and Murmac uranium projects we have two significant exploration opportunities with all the right geological ingredients to deliver a new Athabasca Basin discovery. The shallow, high grade nature of our targets, in proximity to infrastructure, makes for a compelling exploration scenario. We look forward to commencing drilling on these projects in 2022, as outlined in our exploration plans.”