In a report on the best and the worst U.N. prices for uranium in 2016, the U,N.
Office for the Coordination of Atomic Energy and Nuclear Energy (OCAEN) found that the U .
N. is on track to pay more than $3.6 billion per year for uranium, a higher price than the $2.5 billion that it spent last year.
The $3 billion figure is a lot more than the OCAEN estimates that the world will spend in 2020 on the fuel.
The OCAen also found that, at present, the global nuclear fuel cycle is projected to last about four to five years, while the global demand for uranium will likely increase from around 1,000 to 1,400 tons per year by the end of the decade.
The global supply of uranium will be limited by the number of existing uranium mines in the U