ENERGY MINERALS

South Africa kickstarts nuclear plans

South Africa has this week taken a step towards plans for a 2,500MW nuclear build programme.

Staff reporter
 Eskom’s Koeberg nuclear power station in South Africa

Eskom’s Koeberg nuclear power station in South Africa

The Department of Minerals and Energy has published the Request for Information, which resources and energy minister Gwede Mantashe said would start preparatory work to develop plans for the programme.

"Given the long lead-time of building additional new nuclear capacity, upfront planning is necessary for security of energy supply to society," Mantashe tweeted.

Power security has been labelled a priority by the Minerals Council South Africa, after miners were hampered by unreliable power in 2019, which peaked with unprecedented stage 6 load-shedding in December. 

The DMRE said the RFI would enable it to gain insight into the cost of the programme, possible ownership, cost recovery, end-user cost and sustainability.

It said the move was in line the Integrated Resource Plan 2019's decision 8, which said the DMRE would "commence preparations for a nuclear build programme at a pace and scale that the country can afford because it is a no-regret option in the long-term".

Responses must be submitted by September 15.

South Africa has two nuclear reactors, Koeberg 1 and 2, which are owned and operated by state utility Eskom and both started commercial operation in the mid-1980s.

Eskom describes Koeberg as its "most reliable" power station.

The uranium sector has been in the doldrums since the Fukushima disaster in 2011 and although the uranium price has strengthened on supply cuts exacerbated by COVID-19 restrictions to more than US$33/lb on the spot market, it's less than half the price uranium was fetching in early 2011. 

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.