A Market-Clearing Model of the Uranium and Enrichment Industries

Schneider, Erich; Phathanapirom, Urairisa; Eggert, Roderick G.; Segal, Eran

doi:10.13182/nt13-a18109

Cited by 6 publications

(8 citation statements)

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“…The work presented here builds upon the market clearing model of the uranium and enrichment industries described in [4]. That model is built upon databases of primary and secondary uranium resources as well as enrichment facilities, with each enrichment facility having a unique cost structure.…”

Section: Methodsmentioning

confidence: 99%

“…Each mine in the simulation has unique characteristics including total uranium reserves, earliest feasible opening date, capital and operating costs and others detailed below and in [4]. Since these characteristics are fixed, the supply curve for each individual mine is also the same in every time period as long as the mine still possesses uranium reserves it can produce.…”

Section: Methodsmentioning

confidence: 99%

“…The OM, is interpreted as the AVC at the reference annual production level, M. In reality, individual mines would increase or curb production as conditions warranted; however the existing model [4] permits mines to function at their reference capacity or not at all. By formulating a mine-specific supply curve, the modification described next enables each mine to select its own production level at every time step.…”

Section: Short Run Individual Mine Supply Curvementioning

confidence: 99%

“…Approximately 80% of all uranium has been sold under long term contracts and 20% of all uranium by spot market price [1][2][3]. The objective of this work is to extend an existing market clearing model of the uranium and enrichment industries [4]. This model analyzes the impact of new technologies as well as inventory management policies on the uranium market.…”

Section: Introductionmentioning

confidence: 99%

“…The first includes five made-up mines and is purely illustrative of the model's behavior. The second implements the realistic depiction of the world uranium and enrichment markets described in [4].…”

Section: Introductionmentioning

confidence: 99%

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A Mine-Based Uranium Market Clearing Model

et al. 2014

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Economic analysis and market simulation tools are used to evaluate uranium (U) supply shocks, sale or purchase of uranium stockpiles, or market effects of new uranium mines or enrichment technologies. This work expands on an existing U market model that couples the market for primary U from uranium mines with those of secondary uranium, e.g., depleted uranium (DU) upgrading or highly enriched uranium (HEU) down blending, and enrichment services. This model accounts for the interdependence between the primary U supply on the U market price, the economic characteristics of each individual U mine, sources of secondary supply, and the U enrichment market. This work defines a procedure for developing an aggregate supply curve for primary uranium from marginal cost curves for individual firms (Uranium mines). Under this model, market conditions drive individual mines' startup and short-and long-term shutdown decisions. It is applied to the uranium industry for the period 2010-2030 in order to illustrate the evolution of the front end markets under conditions of moderate growth in demand for nuclear fuel. The approach is applicable not only to uranium mines but also other facilities and reactors within the nuclear economy that may be modeled as independent, decision-making entities inside a nuclear fuel cycle simulator.

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Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Short Run Individual Mine Supply Curvementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations