Uranium (U): Uses, Supply Chain and Market
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Uranium is the fuel for nuclear power reactors, which generated about 9% of the world's electricity in 2025, and about 56% of the uranium mined worldwide comes from in situ leach mining. In 2024 Kazakhstan produced 23,270 tU, 39% of world mine production (world total: 60,213 tU). US-origin uranium was only 7% of the uranium delivered to US civilian reactor owners and operators in 2025, according to the US Energy Information Administration (EIA). Uranium is on the US and Canadian critical minerals lists.
$58.46/lb
weighted-average price paid by US reactor owners and operators in 2025
Source: US Energy Information Administration: Uranium Marketing Annual Report (data for 2025)
Which countries produce uranium?
| Country | 2023 | 2024 | Share of 2024 world | Identified resources, tU (to $130/kg U, 1 January 2025) |
|---|---|---|---|---|
| Kazakhstan | 21,109 | 23,270 | 39% | 827,500 |
| Canada | 11,001 | 14,309 | 24% | 551,700 |
| Namibia | 6,986 | 7,333 | 12% | 392,800 |
| Australia | 4,693 | 4,598 | 7.6% | 1,701,600 |
| Uzbekistan (estimate) | 4,000 | 4,000 | 6.6% | NA |
| Russia | 2,710 | 2,738 | 4.5% | 471,700 |
| China (estimate) | 1,600 | 1,600 | 2.7% | NA |
| Niger | 1,130 | 962 | 1.6% | NA |
| All other countries | 1,205 | 1,403 | 2.3% | NA |
| World total | 54,433 | 60,213 | 100% | 5,864,500 |
Source: World Nuclear Association, World Uranium Mining Production (updated 9 October 2026) and Supply of Uranium, which gives resources from the OECD Nuclear Energy Agency and IAEA Red Book as of 1 January 2025. The Association is an industry body, and USGS does not publish a uranium chapter. Shares are calculated from its figures, and totals may not add exactly because of rounding. NA means the page gives no figure.
How is uranium mined and processed?
- In 2022, 56% of world uranium mined came from in situ leach (also called in situ recovery) methods, up from 16% in 2000. In situ leaching leaves the ore in the ground, dissolves the uranium and pumps the solution to the surface for recovery (World Nuclear Association).
- Kazakhstan produced most of the 27,773 tU mined by in situ leaching in 2022, and Uzbekistan 3,520 tU. Most US uranium mining is also by in situ leaching, in smaller amounts.
What is uranium used for?
The World Nuclear Association puts 2024 mine production at 90% of world reactor demand for uranium.
- Nuclear power generation: 442 operable reactors with 405,227 megawatts of net capacity generated 2,701.6 terawatt-hours in 2025, about 9% of the world's electricity (World Nuclear Association)
- US reactor fuel: owners and operators of US civilian reactors bought 46.9 million pounds of uranium oxide equivalent (U3O8e) in 2025, and the fuel assemblies they loaded contained 40.9 million pounds (EIA)
How much does uranium cost?
| Price | Unit | 2024 | 2025 |
|---|---|---|---|
| weighted-average price paid by US reactor owners and operators | dollars per pound U3O8 equivalent | 52.71 | 58.46 |
Source: US Energy Information Administration: Uranium Marketing Annual Report (data for 2025). Prices are annual averages of the series named in each row, so they are not live quotes.
EIA says 13% of the uranium delivered in 2025 was bought under spot contracts at a weighted-average $76.01 per pound and the other 87% under long-term contracts at $55.91. The 2025 average was 11% above 2024 and covers contracts signed in earlier years, so it is not a spot quote.
Is uranium a critical mineral?
Uranium is on the US and Canadian critical minerals lists. Each government builds its list with its own method, so a mineral can be critical in one place and not in another.
| Jurisdiction | Status |
|---|---|
| United States | Critical mineral (final 2025 list) |
| European Union | Not listed |
| Australia | Not listed |
| Canada | Critical |
Lists last checked against the primary publications on October 12, 2026. See the comparison of all four lists.
What are the supply risks and recent events for uranium?
- 2025. US reactor owners and operators bought 46.9 million pounds U3O8e, 16% fewer than the 55.9 million pounds in 2024, at a weighted-average price of $58.46 per pound, 11% above the 2024 price of $52.71 (EIA).
- 2025. Of the uranium delivered to US reactor owners and operators in 2025, 32% was of Canadian origin, 28% Kazakh, 15% Australian, 7% Uzbek, 4% Namibian and 7% US. Russia supplied 26% of the foreign-origin enrichment services (separative work) they bought (EIA).
- May 2024. The Prohibiting Russian Uranium Imports Act (Public Law 118-62) was enacted on 13 May 2024. It bars imports of Russian-produced low-enriched uranium from 90 days after enactment, allows the Secretary of Energy to waive the ban in limited cases for no later than 1 January 2028, and caps waived imports at 476,536 kilograms in 2024 falling to 459,083 kilograms in 2027.
- November 2025. Uranium was added to the US Final 2025 List of Critical Minerals after public comment and interagency input.
Resources. The Red Book puts identified uranium resources recoverable at up to $130 per kilogram of uranium at 5,864,500 tU as of 1 January 2025: Australia 1,701,600 tU (29%), Kazakhstan 827,500 (14%), Canada 551,700 (9%), Russia 471,700 (8%) and Namibia 392,800 (7%), as summarised by the World Nuclear Association.
Which uranium projects are on official lists?
| Project | State | Expected products | List |
|---|---|---|---|
| Crownpoint / Church Rock Uranium Project | New Mexico | Uranium | Covered |
| Grants Precision ISR Project | New Mexico | Uranium | Covered |
| La Jara Mesa Project | New Mexico | Uranium | Covered |
| Roca Honda Project | New Mexico | Uranium | Transparency |
| Sweetwater Project | Wyoming | Uranium | Transparency |
Source: Permitting Council, current covered projects and current transparency projects, last updated 2 April 2026.
Which companies produce or process uranium?
| Company | Country | Role | What the source says |
|---|---|---|---|
| Kazatomprom | Kazakhstan | Uranium miner | Its 4Q25 operations update gives 2025 production of 25,839 tonnes of uranium on a 100% basis (67.18 million pounds of U3O8) and 13,519 tonnes on an attributable basis, and 2026 guidance of 27,500 to 29,000 tonnes on a 100% basis (14,500 to 15,500 attributable), subject to sulphuric acid availability. Kazatomprom: 4Q25 operations and trading update (February 2026) |
| Cameco | Canada (McArthur River, Key Lake, Cigar Lake; JV Inkai in Kazakhstan) | Uranium miner and fuel services provider (TSX: CCO; NYSE: CCJ) | Its second-quarter 2026 results report packaged production of 3.3 million pounds of U3O8 at McArthur River and Key Lake (2.3 million its share) and 2.9 million pounds at Cigar Lake (1.6 million its share), JV Inkai production of 2.8 million pounds on a 100% basis, and unchanged 2026 guidance of 19.5 to 21.5 million pounds (its share). Cameco: second quarter 2026 results (31 July 2026) |
| Orano | France (mines in Canada and Kazakhstan) | Uranium miner and fuel cycle company | Its Annual Activity Report 2025 gives site totals for 2025 of 5,794 tonnes of uranium at McArthur River (15 million pounds of U3O8, below a 6,900 tonne target), 7,365 tonnes at Cigar Lake and 3,714 tonnes at Katco in Kazakhstan, which are not Orano's share. It says the group recognized in December 2024 that it had lost operational control of its Niger subsidiaries. Orano: Annual Activity Report 2025, mining activities page |
| Paladin Energy | Australia (Langer Heinrich mine in Namibia) | Uranium miner (ASX: PDN) | Its June 2026 quarterly key metrics give Langer Heinrich production of 4.82 million pounds of U3O8 in FY2026 (guidance 4.5 to 4.8 million), sales of 4.35 million pounds at an average realised price of US$70.0 a pound, and a cost of production of US$43.3 a pound. Paladin Energy: June 2026 quarterly key metrics summary (22 July 2026) |
| Energy Fuels | United States | Uranium and rare earth producer (NYSE American: UUUU) | Its second-quarter 2026 release says it produced 865,000 pounds of finished U3O8 in the quarter and about 2.3 million pounds in an ore run that blended Pinyon Plain ore with a small amount of La Sal and Pandora material, sold 310,000 pounds at a weighted average $80.48 a pound, and holds 2026 guidance of 2.0 to 2.5 million pounds mined and 1.5 to 2.0 million pounds sold. Energy Fuels: second quarter 2026 results (5 August 2026), as hosted on finanznachrichten.de |
Each row links to the document that supports it. The list is not exhaustive and is not a ranking.
Frequently asked questions
What is uranium used for?
Uranium is used in nuclear power generation and US reactor fuel. Nuclear power generation: 442 operable reactors with 405,227 megawatts of net capacity generated 2,701.6 terawatt-hours in 2025, about 9% of the world's electricity (World Nuclear Association).
Which country produces the most uranium?
Kazakhstan produces the most uranium: 23,270 tU, or 39% of the world total, in 2024, according to the World Nuclear Association mine production figures.
Is uranium a critical mineral?
Yes. Uranium is on the US and Canadian critical minerals lists. The United States added uranium to its list in November 2025, when the final list grew from 50 to 60 minerals. US-origin uranium was only 7% of the uranium delivered to US civilian reactor owners and operators in 2025, according to the US Energy Information Administration (EIA).
How much does uranium cost?
The US Energy Information Administration (EIA) reports the average 2025 price of uranium at $58.46/lb (weighted-average price paid by US reactor owners and operators).
Sources
Read on October 14, 2026. Figures on this page come from these documents; where a number is an estimate, the source says so.
- World Nuclear Association: World Uranium Mining Production. Production by country, 2022 to 2024
- World Nuclear Association: Supply of Uranium. Identified resources from the OECD-NEA and IAEA Red Book
- World Nuclear Association: In Situ Leach Mining of Uranium
- World Nuclear Association: Nuclear Power in the World Today
- US Energy Information Administration: Uranium Marketing Annual Report (data for 2025, released 29 July 2026)
- Public Law 118-62: Prohibiting Russian Uranium Imports Act
- Federal Register: Final 2025 List of Critical Minerals
- EUR-Lex: Regulation (EU) 2024/1252
- Department of Industry, Science and Resources: Australia’s Critical Minerals List and Strategic Materials List
- Government of Canada: Canada’s critical minerals
- Permitting Council: current FAST-41 projects
- Kazatomprom: 4Q25 operations and trading update (February 2026)
- Cameco: second quarter 2026 results (31 July 2026)
- Orano: Annual Activity Report 2025, mining activities page
- Paladin Energy: June 2026 quarterly key metrics summary (22 July 2026)
- Energy Fuels: second quarter 2026 results (5 August 2026), as hosted on finanznachrichten.de
