No nuclear fuel crisis; reserves secure for 21st century, says IAEA

The International Atomic Energy Agency (IAEA) has dismissed concerns over a possible shortage of nuclear fuel, saying global uranium reserves will be sufficient to power nuclear plants through the end of this century.

IAEA Deputy Director General Mikhail Chudakov, told Russia's TASS news agency on the sidelines of World Atomic Week Forum in Moscow that mining activity follows market prices, with electricity production costs remaining the key factor. His remarks echoed those of Rosatom Director General Alexey Likhachev.

Chudakov added that ongoing geological exploration continues to reveal new deposits worldwide, reinforcing the long-term stability of the nuclear energy sector.