Last year, China consumed more than 159 exajoules. "Exa" stands for trillion, a trillion has 18 zeros. One exajoule stands for one trillion joules, which is equivalent to about 278 TWh. Germany consumes about twelve exajoules per year. The second largest energy consumer after China is the USA, followed at a considerable distance by India and Russia, while Germany is in ninth place. So over the last 40 years – the pandemic year 2020 was an exception – energy demand on Earth is now rising steadily. According to forecasts, Asia will be the world’s largest energy consumer in 2050. Today, renewable energies still generate a very small part of the energy. Oil, coal and natural gas are the main energy suppliers.

In this country, a record high share of electricity in July came from renewable energy sources, namely more than 70 percent. Just under 28 percent was generated from fossil fuels. However, since demand for electricity in Germany was greater than production, some of the electricity was imported from various countries. In France, so far only about one-fifth of energy production is generated from renewable sources.

And the French rely on nuclear energy, support it, build large and also small modular reactors. For the transition to a green energy supply to succeed, nuclear energy is part of the solution, because renewables alone are not enough. Not only France, but many other countries are relying on nuclear energy as part of the energy mix. This should mean that the time has come for uranium as a raw material, because the demand for uranium is growing significantly.

Uranium companies such as Latitude Uranium (- https://www.commodity-tv.com/ondemand/companies/profil/latitude-uranium-inc/ -) and Consolidated Uranium (- https://www.commodity-tv.com/ondemand/companies/profil/consolidated-uranium-inc/ -) will benefit from this development. Latitude Uranium is developing two uranium projects, in Labrador and in Nunavut. The Labrador project in particular is considered extremely high grade. Consolidated Uranium owns the uranium in its projects in Australia, Argentina, Canada, and the United States. Utah and Colorado are home to previously producing uranium and vanadium mines.

Latest corporate information and press releases from Consolidated Energy (- https://www.resource-capital.ch/en/companies/consolidated-uranium-inc/ -) and Latitude Uranium (- https://www.resource-capital.ch/en/companies/latitude-uranium-inc/-).

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