At the moment, 10 p.c of the world’s electrical energy is generated by nuclear power, and that quantity is predicted to develop. Trying ahead, analysts are calling for a sustained bull market in uranium.
Costs have since stabilized round US$70 per pound as of mid-2025, and the market stays bullish as a consequence of a persistent supply-demand imbalance.
Due to uranium’s significance in nuclear gasoline manufacturing and power era, it’s vital to know the place uranium is mined and which nations are the most important uranium-producing international locations. Kazakhstan is the chief by an extended shot, and has been since 2009. In 2022, the latest 12 months for which information is accessible, Canada and Namibia took second and third place, respectively, for uranium manufacturing.
For buyers involved in following the uranium area, having familiarity with uranium manufacturing by nation is crucial. Learn on to get a better take a look at the most important uranium-producing international locations. Knowledge and mine info on the highest 10 uranium producing international locations are from the World Nuclear Affiliation’s most up-to-date report on uranium mine manufacturing and mining database MDO.
1. Kazakhstan
Mine manufacturing: 21,227 metric tons
Kazakhstan is the most important uranium producing nation on the planet, and its whole output of 21,227 metric tons in 2022 accounted for a formidable 43 p.c of world uranium provide.
When final recorded in 2021, Kazakhstan had 815,200 MT of identified recoverable uranium sources, second solely to Australia. Many of the uranium within the nation is mined through an in-situ leaching course of.
Kazataprom, the nation’s nationwide uranium miner, is the world’s largest producer, with initiatives and partnerships in varied jurisdictions. Information that the highest uranium producer could miss its manufacturing targets for 2024 and 2025 was a big contributor to uranium costs breaking by the US$100 stage final 12 months.
One of many firm’s most vital uranium operations is the Inkai in-situ restoration (ISR) mine, a 60/40 three way partnership with Cameco (TSX:CCO,NYSE:CCJ). In line with the mining database MDO, Inkai produced 8.3 million kilos of U3O8 in 2023.
Manufacturing at Inkai was quickly suspended in early 2025 as a consequence of a regulatory delay that has since been rectified.
In Could, Kazatomprom introduced that its subsidiary’s 40 p.c owned three way partnership, Taiqonyr Qyshqyl Zauyty, secured US$189 million in financing from the Growth Financial institution of Kazakhstan to construct an 800,000 MT per 12 months sulfuric acid plant within the Turkestan area. The plant is predicted to be operational by Q1 2027.
2. Canada
Mine manufacturing: 7,351 metric tons
Canada’s uranium output in 2022 was 7,351 metric tons. The nation’s manufacturing fell dramatically since hitting a peak of 14,039 MT in 2016 because the nation’s mines closed as a consequence of low uranium costs within the late 2010s. Nonetheless, uranium manufacturing within the nation started to rebound in 2022.
Saskatchewan’s Cigar Lake and McArthur River are thought-about the world’s two high uranium mines. Each properties are operated by sector main Cameco. MDO highlights Cigar Lake and McArthur River as having uranium grades which can be 100 instances the world common. The corporate made the choice to shutter operations on the McArthur River mine in 2018, however returned to regular operations in November 2022.
In 2023, Cameco produced 17.6 million kilos of uranium — equal to 7,983 metric tons — which was nonetheless beneath its initially deliberate manufacturing of 20.3 million kilos for the 12 months. Nonetheless, the corporate’s 2024 uranium output climbed to 23.1 million kilos, beating its steerage for the 12 months.
For 2025, the uranium main plans to produce 18 million kilos of uranium at McArthur River/Key Lake and 18 million kilos at Cigar Lake.
Uranium exploration can also be prevalent in Canada, with the bulk occurring within the uranium-rich Athabasca Basin within the province of Saskatchewan. The Athabasca Basin is world famend for its high-quality uranium deposits and pleasant mining angle, and Saskatchewan’s lengthy historical past with the uranium business has helped to say it as a global chief within the sector.
3. Namibia
Mine manufacturing: 5,613 metric tons
Namibia’s uranium manufacturing totaled 5,613 metric tons in 2022. The nation’s uranium output has been steadily rising after falling to 2,993 MT in 2015.
In reality, the African nation overtook longtime frontrunner Canada to change into the third largest uranium-producing nation in 2020, and went on to surpass Australia for the second high spot in 2021. Though Namibia slipped again beneath Canada in 2022, its output for the 12 months was solely down by 140 MT from 2021.
The nation is residence to a few key uranium mines: Langer Heinrich, Rössing and Husab. Paladin Vitality (ASX:PDN,OTCQX:PALAF) owns the Langer Heinrich mine. In 2017, Paladin took Langer Heinrich offline as a consequence of weak uranium costs. Nonetheless, improved uranium costs over the previous few years prompted the uranium miner to ramp up restart efforts, and Langer Heinrich achieved business manufacturing once once more in Q1 2024.
Paladin initially forecast fiscal 2025 output of 4 million to 4.5 million kilos of U3O8, however revised it in November 2024 to three million to three.6 million kilos as a consequence of inconsistent ore stockpiles and water provide points. In March 2025, after heavy rains additional disrupted operations, Paladin eliminated its steerage altogether. The corporate is now going through two class motion lawsuits relating to the steerage revisions.
Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) offered its majority share of the Rössing mine to China Nationwide Uranium in 2019. Rössing is the world’s longest-running open-pit uranium mine, and up to date growth efforts have prolonged its mine life to 2036, in accordance with MDO.
The Husab mine, majority owned by China Common Nuclear, is among the world’s largest uranium mines by output. As a part of its effort to extend output, MDO stories {that a} pilot heap leach mission is underway to evaluate the financial feasibility of processing lower-grade ore. The outcomes of the pilot mission are anticipated in 2025.
4. Australia
Mine manufacturing: 4,087 metric tons
Australia’s uranium manufacturing totaled 4,087 metric tons in 2022, down considerably from the 6,203 MT produced two years prior. The island nation holds 28 p.c of the world’s identified recoverable uranium sources.
Uranium mining is a contentious and sometimes political concern in Australia. Whereas the nation permits some uranium-mining exercise, it’s against utilizing nuclear power — no less than for now.
“Australia makes use of no nuclear energy, however with excessive reliance on coal any seemingly carbon constraints on electrical energy era will make it a powerful risk,” in accordance with the World Nuclear Affiliation. “Australia has a major infrastructure to help any future nuclear energy program.”
Australia is residence to three working uranium mines, together with the largest-known deposit of uranium on the planet, BHP’s (NYSE:BHP,ASX:BHP,LSE:BHP) Olympic Dam. Though uranium is simply produced as a by-product at Olympic Dam, its excessive output of the steel makes it the fourth largest uranium-producing mine on the planet. The mining database MDO stories that In BHP’s 2024 fiscal 12 months, uranium output from the Olympic Dam operation totaled 3,603 metric tons of uranium oxide focus.
5. Uzbekistan
Mine manufacturing: 3,300 metric tons
In 2022, Uzbekistan was the fifth largest uranium producing nation, with output of three,300 metric tons. It entered the highest 5 in 2020, with an estimated 3,500 MT of output. Home uranium manufacturing had been step by step rising within the Central Asian nation since 2016 through Japanese and Chinese language joint ventures.
Navoiyuran, which was spun out of state-owned Navoi Mining & Metallurgy Combinat in 2022 as a part of a restructuring, handles all of the mining and processing of home uranium provide. The nation’s uranium largess continues to draw international funding; strategic partnerships with French uranium miner Orano and state-run China Nuclear Uranium have been introduced in November 2023 and March 2024, respectively.
Orano additionally partnered with the state uranium firm in 2019, forming a 51/49 three way partnership, Nurlikum Mining, to develop the South Djengeldi uranium mission. In early 2025, the pair was joined by Japan’s ITOCHU (TSE:8001), who acquired an undisclosed minority stake. The mine, situated within the Kyzylkum Desert, is projected to provide as much as 700 metric tons of uranium yearly over a lifespan exceeding a decade. An exploration program goals to no less than double the mission’s mineral sources.
6. Russia
Mine manufacturing: 2,508 metric tons
Russia was in sixth place when it comes to uranium manufacturing in 2022 with manufacturing of two,508 metric tons. Output has been comparatively regular within the nation since 2011, often coming in across the 2,800 to three,000 MT vary.
Specialists had been anticipating the nation to enhance its manufacturing within the coming years to satisfy its power wants, in addition to rising uranium demand all over the world. However in 2021, uranium manufacturing within the nation dropped by 211 MT year-over-year to 2,635 MT, and it fell by one other 127 MT in 2022.
By way of home manufacturing, Rosatom, a subsidiary of ARMZ Uranium Holding, owns the nation’s Priargunsky mine and is engaged on growing the Vershinnoye deposit in Southern Siberia by a subsidiary.
In 2023, Russia surpassed its uranium manufacturing goal, producing 90 MT greater than anticipated. Rosatom is growing new mines, together with Mine No. 6, which is slated to start uranium manufacturing in 2028.
Russian uranium has been an space of controversy lately, with the US initiating a Part 232 investigation across the safety of uranium imports from the nation in 2018. Extra just lately, Russia’s ongoing warfare in Ukraine has prompted international locations all over the world to look extra intently at their nuclear provide chains.
7. Niger
Mine manufacturing: 2,020 metric tons
Niger’s uranium manufacturing totaled 2,020 metric tons in 2022, having declined year-on-year over the previous decade. The African nation is residence to the manufacturing SOMAIR uranium mine and the previous producing COMINAK mine, which account for five p.c of the world’s uranium manufacturing. Each are run by subsidiaries of Orano, a non-public uranium miner, by majority owned joint ventures.
World Atomic (TSX:GLO,OTCQX:GLATF) is growing its Dasa mission within the nation, and expects to fee its processing plant by early 2026. Niger can also be residence to the Madaouela uranium asset, which was the flagship mission of explorer GoviEx Uranium (TSXV:GXU,OTCQB:GVXXF).
A latest navy coup within the African nation has sparked uranium provide issues, as Niger accounts for 15 p.c of France’s uranium wants and one-fifth of EU imports. In January 2024, the federal government of Niger, now underneath a navy junta, introduced it intends to overhaul the nation’s mining business. It has quickly halted the granting of recent mining licenses and is working to make modifications to present mining licenses in an effort to enhance state income.
In mid-2024, Niger’s authorities revoked GoviEx Uranium’s Madaouela mining license together with Orano’s working allow for its Imouraren uranium mission.
Niger granted a small-scale mining allow for the Moradi uranium mission to state-owned COMIREX. The approval, issued February 22, 2025, upgrades a earlier semi-mechanized license and strengthens nationwide management over uranium sources within the Agadez Area.
8. China
Mine manufacturing: 1,700 metric tons
China’s uranium manufacturing grew to hit 1,700 metric tons in 2022, up by 100 MT over 2021. The nation’s uranium manufacturing climbed in the course of the 2010s from 885 MT in 2011 to 1,885 MT in 2018, and held regular at that stage till falling to 1,600 MT in 2021.
China Common Nuclear Energy, the nation’s sole home uranium provider, is trying to increase nuclear gasoline provide offers with Kazakhstan, Uzbekistan and extra international uranium firms.
China’s purpose is to provide one-third of its nuclear gasoline cycle with uranium from home producers, acquire one-third by international fairness in mines and joint ventures abroad and buy one-third on the open uranium market. China can also be a chief in nuclear power; the Chinese language mainland has 56 nuclear reactors with 31 in building.
In Could 2025 Chinese language scientists introduced profitable outcomes from their newly developed methodology of extracting uranium from seawater, which makes use of hydrogel beads made with candle wax and a uranium-binding compound. The crew goals to construct an indication plant by 2035.
Whereas the nation’s uranium reserves are much less expansive than different international locations, the method may help China’s rising nuclear energy wants by tapping into the ocean’s huge uranium reserves.
9. India
Mine manufacturing: 600 metric tons
India produced 600 metric tons of uranium in 2022, on par with output in 2021.
India at present has 25 working nuclear reactors with one other eight underneath building, in accordance with the Indian authorities. In 2025, the nation’s Minister for Energy launched a listing of steps to take to extend the nation’s nuclear power capability to its purpose of 100 gigawatts of energy by 2047.
“The Indian authorities is dedicated to rising its nuclear energy capability as a part of its huge infrastructure growth programme,” as per the World Nuclear Affiliation. “The federal government has set formidable targets to develop nuclear capability.”
10. South Africa
Mine manufacturing: 200 metric tons
South Africa produced 200 metric tons of uranium in 2022. It’s one other uranium-producing nation that has seen its output decline over the previous decade — the nation’s uranium output peaked at 573 MT in 2014. Nonetheless, in 2022 South Africa surpassed Ukraine’s manufacturing, which was curbed by Russia’s invasion, to change into the tenth high uranium producer globally.
South Africa holds 5 p.c of the world’s identified uranium sources, taking the sixth spot on that checklist.
Lately, Sibanye-Stillwater (NYSE:SBSW) and C5 Capital, a world funding agency specializing in superior nuclear power, shaped a strategic partnership to discover and develop superior nuclear power alternatives in South Africa and globally.
The collaboration goals to establish, purchase, finance, develop and handle uranium initiatives and manufacturing amenities able to supplying gasoline for small modular reactors. Sibanye-Stillwater’s portfolio consists of vital uranium sources in tailings at its Cooke and Beatrix gold operations.
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Securities Disclosure: I, Georgia Williams, maintain no direct funding curiosity in any firm talked about on this article.
Securities Disclosure: I, Melissa Pistilli, maintain no direct funding curiosity in any firm talked about on this article.