Uranium: Powering the Cleanest Source of Energy
Connect with us

Sponsored

Uranium: Powering the Cleanest Source of Energy

Published

on

The following content is sponsored by the Sprott Physical Uranium Trust

Uranium: Powering the Cleanest Source of Energy

The world’s energy needs are growing with its population. However, achieving a net-zero carbon economy while meeting our growing energy needs requires a larger role for clean, sustainable, and reliable sources. Nuclear is one such energy source.

The above graphic from the Sprott Physical Uranium Trust highlights how uranium is powering one of the cleanest and most reliable sources of energy in nuclear power.

The Cleanest Energy Sources

Although all energy sources have tradeoffs, some are better for the environment than others.

To find the cleanest sources of energy, Our World in Data calculated CO2-equivalent emissions per gigawatt-hour (GWh) of electricity generated over the lifecycle of power plants for different energy sources. This includes the footprint of raw materials, transport, and construction of power plants.

Energy SourceCO2-equivalent Emissions Per GWh (tonnes)Type
Coal820Fossil fuel
Oil720Fossil fuel
Natural Gas490Fossil fuel
Biomass78-230*Non-renewable
Hydro34Renewable
Solar5Renewable
Wind4Renewable
Nuclear3Non-renewable

*Emissions from biomass vary depending on the type of fuel combusted.

It’s not surprising that coal, oil, and natural gas plants emit much more greenhouse gases than their renewable and non-renewable counterparts. In fact, emissions per GWh from coal power plants are roughly 273 times higher than nuclear power plants.

Hydropower offers a cleaner and renewable alternative to fossil fuels, however, the concrete and materials used in dam construction contribute to emissions. Furthermore, the decomposition of underwater vegetation in reservoirs also releases methane and carbon dioxide into the environment. Still, emissions per GWh from hydropower are around 24 times lower than coal.

Solar and wind are often the most mentioned energy sources when it comes to the clean energy transition. However, their energy densities are lower than fossil fuels and as a result, they often require more units to generate the same amount of power. For example, generating one GWh of electricity can take more than three million photovoltaic panels, or 412 utility-scale wind turbines. Constructing these massive solar and wind farms adds up to a relatively large material footprint and consequently, GHG emissions.

This is where nuclear power comes in.

Why is Nuclear the Cleanest Source of Energy?

Nuclear power plants use fission to generate electricity without any combustion, avoiding emissions from the process of electricity generation. What’s more, on average, it only takes one typical nuclear reactor to generate one GWh of electricity. The power generation capacity of nuclear reactors is largely due to the high energy density of uranium and nuclear fuel.

According to the U.S. Department of Energy, a single, eraser-sized uranium pellet contains the same amount of energy as 120 gallons of oil or 17,000 cubic feet of natural gas. This allows nuclear power plants to generate large amounts of electricity efficiently, making them one of the cleanest energy sources per GWh of electricity produced.

Nuclear’s Role in the Clean Energy Transition

Nuclear power offers several advantages in the transition to clean energy.

Besides being carbon-free and sustainable, nuclear power is also one of the most reliable and safest sources of energy. In fact, nuclear plants in the United States have a capacity factor of 92.5%, which means that they run at maximum capacity for almost 93% of the time during a year.

As one of the cleanest, most powerful, and reliable sources of energy, nuclear power could play a key role in helping countries achieve decarbonization goals in the fight against climate change.

Click for Comments

Sponsored

Value in the Ground: Cartier Resources’ Chimo Mine Project

Cartier Resources (TSX-V: ECR) is advancing the Chimo Mine Gold Project in the Abitibi region of Quebec, showing its potential with past producing mines.

Published

on

Value in the Ground: Cartier Resources’ Chimo Mine Project

The sponsor of this graphic, Cartier Resources (TSX-V: ECR), has instigated an exploration strategy to increase ounces in the ground at the historic Chimo Mine in the heart of the Abitibi that continues to deliver increasing resources.

Cartier is deploying the strategy in the right region, with the right backers to find gold faster at a lower cost. This graphic provides an overview of the project’s massive potential.

Proven Endowment: The Abitibi Greenstone Belt

There are many prolific past-producing gold districts in Canada, but the Abitibi is one of the largest and well understood gold-bearing regions with readily available exploration infrastructure.

This region extends from Wawa in Northwestern Ontario to the East near Val-d’Or, Québec—a landscape that hosts some of the most productive gold mines in Canada.

Cartier’s Chimo Mine project located in the historic Abitibi Greenstone belt of Québec builds on a legacy of gold production with a project ready for investors.

Tried and Tested Exploration Strategy

The best place to find gold is where companies discovered and mined it before. Between 1964 and 1997, three companies produced 379,012 ounces of gold at the Chimo Mine.

This type of strategy is known as brownfield exploration. Brownfield exploration looks for gold in areas known to host gold mineralization. It offers investors less risk, reducing the amount of uncertainties a company faces.

Ounces in the Ground: Growing a Gold Resource

Cartier delivered its first-ever resource estimate within three years and proved the value at Chimo. In November 2019, the company published its first mineral resource estimate of the central gold corridor on the Chimo Mine property.

It reported Indicated resources of 481,280 ounces of gold and Inferred resources of 417,250 ounces of gold. This resource estimate came from only one-third of the property.

This was just the beginning for Cartier Resources and the Chimo Mine.

In 2021, Cartier upgraded its resource estimate with drilling from its North and South corridor. The company increased the indicated resources to 684,000 oz Au (6,616,000 tonnes at 3.21 g/t Au) and the inferred resources to 1,358,000 oz Au (15,240,000 tonnes at 2.77 g/t). This gives the property over 2 million ounces of gold in the heart of the Abitibi.

Why Invest in Chimo?

Cartier Resources has consistently applied an exploration strategy to develop and increase the known gold resources at the Chimo gold mine.

It built on the foundations of a proven past producer and continued exploration success to discover more gold. In the heart of a safe and established mining jurisdiction, Cartier has put the Chimo Mine back on the Abitibi gold map.

Continue Reading

Sponsored

Visualizing the Rise of Cryptocurrency Transactions

As cryptocurrency transactions rise, merchants are looking to position themselves to take advantage of this new wave of crypto spenders.

Published

on

daily crypto transactions

Visualizing the Rise of Cryptocurrency Transactions

After Bitcoin and cryptocurrency’s wild bull run in late 2020 and early 2021, many holders are now using cryptocurrencies for their intended purpose: payments.

Every day, approximately $12 billion are transferred across the Bitcoin, Ethereum, and Litecoin blockchains, with millions of people using cryptocurrency for payments daily.

This graphic sponsored by CoinPayments looks at the rising transactions of the Bitcoin, Ethereum, and Litecoin networks.

Cryptocurrency Transactions are Rising in Value and Number

While prices are often the focus when crypto is in the spotlight, transaction counts show how much a network is being used as a medium of exchange. In just over five years, daily transactions across the Bitcoin, Ethereum, and Litecoin networks increased sixfold, from just 250,000 to more than 1.5 million transactions a day.

In mid-2017, Ethereum overtook Bitcoin in daily transactions as ETH was necessary to participate in ICOs (initial coin offerings), which fueled much of the speculation in the 2017 price run. With Ethereum still hosting thousands of ERC-20 and ERC-721 tokens on its blockchain today, its transaction counts have grown to be much higher compared to Bitcoin and Litecoin’s.

Along with crypto’s rising transaction numbers, the average USD value per transaction has increased by a minimum of 4x over the past five years.

YearAverage Value per Bitcoin TransactionAverage Value per Ethereum TransactionAverage Value per Litecoin Transaction
2016$2,426$588$1,357
2021$32,943$19,139$5,458

Source: Coin Metric
2021 figures as of July 13th, 2021

Crypto Spenders are Searching for Merchants

As transaction counts and values rise, merchants play a vital part in pushing forward the adoption of digital currencies for payments.

Many cryptocurrency users consider merchant adoption as a key barometer of success for crypto adoption. While companies like AT&T, Namecheap, and Overstock already accept crypto payments, there are still many businesses around the world which don’t offer cryptocurrency as a method of payment.

In a survey of over 8,000 U.S. consumers, 66.7% of crypto owners and 54.2% of non-owners said that not enough merchants accept cryptocurrency. Along with this, 47% of crypto owners said they seek out merchants that accept crypto for purchases, indicating clear demand for more crypto-accepting businesses.

How Can Merchants Make the Most of the Crypto Boom?

As the world embraces crypto, merchants need the in-store and online tools to be part of this next wave of commerce. Accepting crypto opens merchants up to an untapped audience of new consumers, eager to spend their crypto.

CoinPayments makes it easy to start accepting crypto payments at online checkout and with POS systems, with features like auto-coin conversion and over 2,000 coins supported.

Find out more about how the crypto market is growing, adapting to consumer needs, and the opportunity it presents to merchants around the world.

Continue Reading

Subscribe

Popular