Sir, – The Irish Association for Economic Geology would like to reassure Dr Jon-Ivar Skullerud (Letters, August 29th) that there is no cause for concern about the uranium supply for the foreseeable future. Reserves are the ultimate stage of definition of resources, as defined in Europe under the PERC reporting standard (Pan-European Reserves and Resources Reporting Committee).
The International Atomic Energy Association’s most recent estimate (2020) for total uranium reserves and resources was six million tonnes, with current annual production of circa 55,000 tonnes, suggesting some 100 years of supply. It does take time to develop reserves and this is the task of mineral explorers. There is ample time for this industry to expand and extend uranium resources and reserves.
Conversely, the plan to electrify vehicle production, and indeed the intensification of the electric network, require a significant increase in the production of certain metals termed critical minerals. In the case of copper, demand projections by the World Bank and others indicate that we will need to produce the same amount of copper in the next 30 years as we have so far in recorded history. This is not achievable without a dramatic change in public policy and attitudes, as the exploration, development and permitting of a new copper deposit currently takes at least 20 years. It would be appropriate that targets being published and legislated on should use actual data based on real-world projections. – Yours, etc,
ALLY BARROW,
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President,
Irish Association for Economic Geology,
Navan,
Co Meath.