It takes about a gigawatt of electricity is enough to power around 1 million U.S. homes for a year. In order to make that gigawatt, it takes about 200 tons of Uranium, a mineral that remains in a looming deficit.
Due to disruptions in mining production and the difficulty of raising the money for new mining projects, there is a chance of supply deficit. Some have gotten desperate enough to indulge in a Russian deal of uranium scrapped from the guts of atomic warheads, according to Cameco Corp. Chief Executive Officer Tim Gitzel.
On top of the shortage of supplies, prices have dropped as well. Ever since the earth felt the power of the magnitude-9 quake and tsunami that struck Japan on March 11, prices have slumped 24 percent.
In order to increase supply and demand, Cameco will have to make some crucial site selection. The company is currently in the process of assessing the possibilities of where to mine next, and according to Gitzel, they’re ready to think outside the box. Cameco will be looking beyond their current operations in Canada, the US, Kazakhstan, and Australia, in order to find a their next dig.
While their site selection might involve something slightly more complicated than your average business and geographical data, they’re a leading example of how crucial it is to choose the right territory.
Even if your business isn’t mining for the essence to nuclear power, the site that you choose will have a great effect on your success. Variables like competitor company locations, targeted demographics, and the ease of your location, are essential aspects to any site selection.
That’s why MarketMAPS offers the best visual tools to make these selections. Combining accurate geography with demographic and census variables that are crucial for your specific needs, we give you the means to make the best decision for your business.