More than 70% of the world’s cobalt-60 supply is produced in nuclear power plants in Canada.

The most common radioactive isotope of cobalt is cobalt-60. Cobalt-60 is a by-product of nuclear reactor operations. It is formed when metallic structures, such as rebar, are exposed to neutron radiation.

Cobalt-60 supply

According to the Organization of Canadian Nuclear Industries (OCNI), Canada is a world leader in the supply of medical isotopes, which are produced in CANDU reactors. 

These isotopes, which include cobalt-60, the most common isotope used in radiotherapy, continue to save hundreds of thousands of lives each year. 

However, Canada is not the only country demonstrating a growing interest in the development of nuclear energy. 

Countries such as Poland, Estonia and the United Kingdom have also begun to make their own investments.

Cobalt-60 serves as a key radiation source in various industrial applications. For instance, it is widely used in leveling devices and thickness gauges. Moreover, it plays a critical role in radiation therapy within hospitals.

Nuclear Energy

In particular, NCVO noted that the United States has begun to make significant financial contributions to the revitalization and development of both its nuclear power infrastructure and the training and education needed to cultivate a workforce that can fill the highly skilled jobs needed to support these initiatives. 

For example, in May 2020, the U.S. Department of Energy launched and funded its Advanced Reactor Demonstration Program (ARDP), which included $160 million “for initial funding to build two reactors that can be operational in the next 5 to 7 years.” 

A year later, the bipartisan Infrastructure Investment and Jobs Act allocated an additional $2.5 billion in funding to support the design, licensing, construction and operation of two reactors in Texas and Wyoming. 

Overall, when combined with the Build Back Better Act, “…the Bipartisan Infrastructure Deal will add an average of 1.5 million (American) jobs per year, over the decade, while accelerating America’s path to full employment and increasing labor force participation.”

Cobalt is a hard, blue-gray metal that is solid under normal conditions. Cobalt has properties similar to iron and nickel and can be magnetized like iron.