The resurgence of interest in nuclear power is increasing the focus on the uranium market. As the need for sustainable electricity supply and low-carbon energy sources increases, uranium is back on the agenda as a resource of strategic importance.
Uranium production volumes by country for 2015-2024 in an infographic based on data from the World Nuclear Association analyzed.
In 2024, Kazakhstan produced 23,270 tons of uranium and retained its status as the world’s largest producer. This is more than a third of the total world production.
Experts attribute this result to the country’s rich sandstone deposits and the use of well alkalizing technologies, which are cheap and effective compared to traditional methods. Also, Kazakhstan ranks second in the world in terms of uranium reserves.
Canada will produce 14,309 tons of uranium in 2024 and become the second largest supplier. During the pandemic years in the country, the production was sharply reduced due to the closure of mines. However, the restart of major projects such as Cigar Lake and McArthur River has spurred a rapid recovery in the industry.
Namibia also strengthened its position and mined 7,333 tons of uranium in 2024. Large open-pit mines, increased foreign investment and growing demand for nuclear fuel have made the country one of the fastest-growing players in the uranium market.
