The Top 10 Largest Uranium-Producing Countries: Key Players in Global Nuclear Energy
A detailed look at the leading uranium producers and their influence on the global nuclear energy market.
Watan–The top 10 largest uranium-producing countries in the world have played a crucial role in enhancing global nuclear energy supplies over the past decade.
Global uranium production peaked in 2016 at 63,207 metric tons, according to data from the energy sector platform (based in Washington). However, a series of challenges, including price declines after the Fukushima disaster, the COVID-19 pandemic, and the Russia-Ukraine war, led to a significant reduction in production.
As markets recover, uranium prices are currently experiencing a clear rebound, driven by the growing global demand for nuclear energy. Prices surpassed $100 per pound in January 2024, and although they have currently fallen to $73 per pound, they remain well above the average of less than $50 recorded over the past decade.
Currently, 10% of the world’s electricity is generated from nuclear energy, with expectations for this number to grow in the future following commitments by 31 countries to triple nuclear energy deployment by 2050, which enhances optimism about the future of the uranium industry.
In light of this changing landscape, it becomes important to understand the largest 10 uranium-producing countries in the world, as outlined in this report, which shows the extent of their contribution to global supplies.
Kazakhstan
Kazakhstan leads the list of the top 10 uranium-producing countries in the world, with a production of 21,277 metric tons in 2022, representing 43% of global supplies.
The country holds the second-largest uranium reserves globally, with resources estimated at 815,200 metric tons, representing about 13% of global reserves, according to the World Nuclear Association.
Kazatomprom, the national company, is the largest producer of uranium in the world, with a production of 11,373 metric tons in 2022, accounting for 23% of global production.
Last year, Kazatomprom’s ability to increase production was hindered due to a shortage of sulfuric acid, which is used in the extraction mining processes.
Canada
Significantly behind Kazakhstan, Canada ranks second on the list of the top 10 uranium-producing countries in the world, with a production of 7,351 metric tons in 2022.
Although production has declined sharply since 2016, Canada’s uranium sector has rebounded thanks to the Cigar Lake and MacArthur River mines, which provide a uranium concentration more than 100 times higher than the global average.
In 2023, Cameco, Canada’s largest uranium producer and operator of the two mines, produced 17.6 million pounds (7,983 metric tons) of uranium, with plans to increase production in the coming years.
Canada aims to double its domestic production by 2035 through new mines and expansions, as part of its efforts to become the world’s largest uranium producer.
The expansion represents a turning point for Canada’s uranium industry, which was the largest global producer of the metal until 2008 but saw a decline after prices fell following the Fukushima disaster in Japan in 2010, which devastated the nuclear industry in the West.
Canadian Minister of Energy and Natural Resources Jonathan Wilkinson stated that investment in the country’s uranium market reached its highest level in 20 years, with exploration and deposit evaluation spending increasing by 90%, reaching CAD 232 million (USD 161.7 million) in 2022, and an additional 26% increase in 2023 to CAD 300 million (USD 209.15 million), according to the Financial Times.
Namibia
Namibia ranks third on the list of the top 10 uranium-producing countries in the world, with a production of 5,613 metric tons in 2022.
The country has three main mines: Langer Heinrich, Rossing, and Husab.
After a hiatus in production for several years, the Langer Heinrich mine resumed operations in 2024, while the Rossing mine—one of the oldest open-pit mines in the world—continues to expand its operations.
Australia
Despite holding around 28% of global uranium reserves, Australia produced only 4,087 metric tons in 2022, ranking fourth on the list of the top 10 uranium-producing countries in the world.
The modest production compared to the size of the reserves is attributed to political debates surrounding uranium extraction and the use of nuclear energy in the country.
The Olympic Dam mine, owned by BHP, is one of the largest sources of production, although uranium is extracted in Australia as a secondary product.
Uzbekistan
Uzbekistan recorded a production of 3,300 metric tons in 2022, ranking fifth among the top 10 uranium-producing countries in the world.
Partnerships with Japanese and Chinese companies have gradually increased the country’s production in Central Asia since 2016.
Russia
Russia ranked sixth on the list of the top 10 uranium-producing countries in the world, with a production of 2,508 metric tons in 2022.
Although production has remained steady at moderate levels, plans to develop new mines, such as the Verschininoy mine in southern Siberia, could strengthen Russia’s position in the global market in the future.
In 2023, Moscow exceeded its uranium production targets, producing 90 tons more than expected. Rosatom, the state-owned nuclear energy corporation, is working on the development of new mines, including Mine No. 6, which is scheduled to begin production in 2028.
Russian uranium has been a subject of controversy in recent years, with the United States launching an investigation into the security of uranium imports from Russia in 2018. This controversy intensified following the outbreak of the Russia-Ukraine war.
Niger
Despite a decrease in Niger’s uranium production to 2,020 metric tons in 2022, it still contributes 5% of global supplies and ranks seventh on the list of the top 10 uranium-producing countries in the world.
The recent military coup in the African country has raised concerns about uranium supplies, as Niger accounts for 15% of France’s uranium needs and about one-fifth of the European Union’s imports.
In January 2024, the government of Niger announced its intention to reform the country’s mining industry. It temporarily halted the issuance of new mining licenses and is working on making changes to existing mining licenses to increase state profits.
China
China’s uranium production increased to 1,700 metric tons in 2022, up from 100 metric tons in 2021, placing it eighth on the list of the top 10 uranium-producing countries in the world. The country plans to expand its operations both domestically and internationally to secure one-third of its uranium needs from local producers.
The China National Nuclear Corporation (CNNC), the only domestic supplier of uranium in the country, is looking to expand its nuclear fuel supply deals with Kazakhstan, Uzbekistan, and additional foreign uranium companies.
Kazakhstan supplies China with 30 tons of uranium.
India
With a production of 600 metric tons, India ranks ninth on the list of the top 10 uranium-producing countries in the world.
With 23 nuclear reactors in operation, along with 7 others under construction, India continues to develop its nuclear energy infrastructure.
South Africa
South Africa produced only 200 metric tons of uranium in 2022, marking a slight return after years of decline, placing it at the bottom of the list of the top 10 uranium-producing countries in the world.
South Africa holds 5% of global uranium resources, with production peaking in 2014 at 573 metric tons.
