ENERGY MINERALS

South Africa kickstarts nuclear plans

Planning for 'security of energy supply'

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 mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

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.