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Demand for uranium is primarily driven by nuclear power generation, which accounts for approximately one-tenth of the world’s electricity.
Mining Technology analyses uranium price trends and country-wise uranium production and reserves data to keep track of the global uranium market. The performance of major uranium mining companies and active uranium mines, as well as the progress of upcoming uranium mining projects around the world is tracked.
Global uranium production has recovered following a 9.2% drop to 49.7 thousand tonnes (kt) in 2020 due to COVID-19. Uranium production is expected to reach 65.2kt in 2025, according to GlobalData’s estimates.
Mining Technology displays the monthly uranium prices and the global uranium price trend over the last 12 months.
Uranium spot prices increased by 19.4% to $58.2/lb in March 2022 linked to the Russia’s invasion of Ukraine leading to growing demand and anticipated supply disruptions from Russia.
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Mining Technology has identified the top uranium companies by production by ranking the annual output of major uranium miners in the world.
Among the world’s top uranium companies by production, Kazatomprom was the biggest in 2020, followed by Rosatom and Orano.
The world’s five biggest uranium mining companies together contributed 57% of the global total uranium output in 2020.
Current Rank | Rank 2019 | Company Name | Headquarters |
---|---|---|---|
1 | 1 | Kazatomprom | Kazakhstan |
2 | 2 | State Atomic Energy Corporation Rosatom | Russia |
3 | 3 | Orano SA | France |
4 | 5 | BHP | Australia |
5 | 4 | Cameco Corp | Canada |
Source: GlobalData
Mining Technology lists the ten biggest countries by uranium production based on a comprehensive database covering major uranium mining locations around the world.
Kazakhstan, followed by Australia and Namibia, topped the list of countries by uranium production in 2020.
The top ten uranium producing countries together accounted for 92% of the global uranium output in 2020.
The world’s biggest uranium mines are identified from GlobalData’s comprehensive database of uranium mines that tracks the output and recoverable reserves of uranium mining projects across the globe.
With an output of 5,000tpa, Cigar Lake Project in Canada ranked as the world’s biggest uranium mine in year.
The world’s ten biggest uranium mining operations together accounted for 70% of the global uranium output in 2020.
Mine Name | Country | State | Owner | Mine Type & Method | Production 2020 (TTPA) |
---|---|---|---|---|---|
Cigar Lake Project | Canada | Saskatchewan | Cameco Corp(50.02%), Orano SA(37.1%), Idemitsu Canada Resources Ltd.(7.88%), Tepco Resources Inc.(5%) | Underground & Long Hole Stoping | 5 |
Husab Uranium Mine | Namibia | Erongo | China General Nuclear Power Corp(54%), China Africa Development Fund(36%), Epangelo Mining Company (Pty) Ltd.(10%) | Surface & Open Pit | 4 |
Muyunkum Mine | Kazakhstan | South Kazakhstan | Orano SA(51%), Kazatomprom(49%) | In-situ Leaching & In-situ Leaching | 4 |
Olympic Dam Mine | Australia | South Australia | BHP(100%) | Underground & Long Hole Stoping | 4 |
Rossing Mine | Namibia | Erongo | China National Nuclear Corp(68.6%), Iran Foreign Investment Co.(15%), Industrial Development Corporation of South Africa Ltd(10%), Undisclosed(3.4%), Government of Namibia(3%) | Surface & Open Pit | 3 |
Tortkuduk Mine | Kazakhstan | South Kazakhstan | Orano SA(51%), Kazatomprom(49%) | In-situ Leaching & In-situ Leaching | 3 |
Novokonstantinovskoye Mine | Ukraine | Kirovohrad | Vostochny Mining and Ore-Dressing Combine(100%) | Underground & To be confirmed | 3 |
Inkai Mine | Kazakhstan | South Kazakhstan | Kazatomprom(60%), Cameco Corp(40%) | In-situ Leaching & In-situ Leaching | 3 |
KATCO Mine | Kazakhstan | South Kazakhstan | Orano SA(51%), Kazatomprom(49%) | In-situ Leaching & In-situ Leaching | 3 |
Nichols Ranch ISR Uranium Project | United States | Wyoming | Energy Fuels Inc(100%) | In-situ Leaching & In-situ Leaching | 3 |
Source: GlobalData
Mining Technology lists the major upcoming uranium mines in the world by comparing annual production capacities of upcoming uranium mining projects.
The Bigrlyi Project in Australia is the biggest upcoming uranium mine in the world, with an annual production capacity of 0.56Mtpa.
The Gogi Project in India and the Rook I Project in Canada are the next major upcoming uranium mines with capacities of 0.15Mtpa and 0.013Mtpa, respectively.
Mine Name | Country | State | Owner | Mine Type & Method | Annual Production Capacity (TTPA) |
---|---|---|---|---|---|
Bigrlyi Project | Australia | Northern Territory | Energy Metals Ltd(72.39%), Marenica Energy Ltd(20.82%), Southern Cross Exploration NL(6.79%) | Surface and Underground & Open Pit/Sub Level Stoping | 566 |
Gogi Project | India | Karnataka | Uranium Corp of India Ltd(100%) | Underground & To be confirmed | 150 |
Rook I Project | Canada | Saskatchewan | NexGen Energy Ltd(100%) | Underground & Long Hole Stoping | 13 |
Horseshoe-Raven Project | Canada | Saskatchewan | UEX Corp(100%) | Surface and Underground & Open Pit | 7 |
Patterson Lake South Project | Canada | Saskatchewan | Fission Uranium Corp.(100%) | Underground & Long Hole Stoping | 7 |
Imouraren Mine | Niger | Agadez Region | Orano Group(57.65%), SOPAMIN-Inc.(23.35%), Government of Niger(10%), Korea Electric Power Corp(8.9999%) | Surface & Open Pit | 5 |
Elkon Project | Russia | Sakha (Yakutia) Republic | State Atomic Energy Corporation Rosatom(100%) | Underground & Cut and Fill | 5 |
Elkonskoye Project | Russia | Sakha (Yakutia) Republic | ARMZ Uranium Holding Co(100%) | Underground & Cut and Fill | 5 |
Haggan Project | Sweden | Jamtland | Aura Energy Ltd(100%) | Surface & Open Pit | 4 |
Wheeler River Project | Canada | Saskatchewan | Denison Mines Corp(90%), JCU (Canada) Exploration Company Ltd.(10%) | In-Situ Recovery & To be confirmed | 3 |
Source: GlobalData
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