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Production of Uranium in Australia, 2017 - 2025 (Tonnes)

  • Production of Uranium in Australia reached 6,160.06Tonnes in 2020

  • Production grew by a CAGR of 1.55% between 2017 to 2020,and is expected to decline by...

  • GlobalData projects the production to grow at a CAGR of...

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Production of Uranium in Australia, 2017 - 2025 (Tonnes)

Published: Nov 2021
Source: GlobalData

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Impact of COVID-19 on global uranium production 

Global recoverable resources of uranium held a significant position in 2019, according to the World Nuclear Association. Australia had the largest share followed by Kazakhstan, Canada, Russia and Namibia. 

Uranium is a naturally occurring element found in rocks and seawater. It can be also found in minerals including uraninite – the most common uranium ore – as well as autunite, uranophane, torbernite and coffinite. Significant concentrations of uranium can also be found in phosphate rock deposits and lignite and monazite sands. 

Global production has been limited in recent years, mainly due to a sluggish uranium market, which was further impacted by the COVID-19 pandemic from early 2020.  

Global uranium production 

Global uranium production is expected to recover in 2021, after registering a decline in 2020. The return to production of Cigar Lake, as well as continuous production from other mines suspended in 2020 are expected to support the overall growth. Output from Kazakhstan and Russia will be significant to the overall growth. In contrast, production will continue to decline in Australia, owing to the closure of the Ranger mine. 

Global production has been limited in recent years, mainly due to a sluggish uranium market, which was further impacted by the COVID-19 pandemic from early 2020. 

Australia uranium production 

Australia’s production of uranium, after a decline in 2020, is expected to decline by an even more significant share in 2021. These declines are due to the closure of the Ranger mine in the Northern Territory, where open pit mining ceased in late 2012 and the mine processed stockpiled ore until January 2021. The rehabilitation work is scheduled to be completed by 2026. 

With the idling of Boss Energy’s Honeymoon project, which was put under care and maintenance in 2013 due to sluggish market conditions, and the closure of the Ranger mine, Australia is left with the Olympic Dam and Four Mile projects, both located in South Australia. GlobalData anticipates production from the Olympic Dam to be flat, with any increase dependent upon the global copper market conditions, with copper being the primary commodity mined there. Furthermore, BHP recently shelved its Olympic Dam expansion plan, linked to weaker than anticipated ore body, and emphasized future investments would be aimed at maintaining existing levels of production. 

Global uranium producers 

Kazatomprom, Rosatom, China National Nuclear Corp., Orano SA, Cameo and BHP are the world’s leading uranium-producing companies. 

Kazatomprom 

Kazatomprom, a subsidiary of Samruk-Kazyna, is an importer and exporter of uranium, rare metals and nuclear fuel for power plants, special equipment technologies and dual-purpose materials. Its principal activities include the mining and extraction of uranium and processing and sale of uranium products. The company manufactures and markets tantalum and beryllium products, generation and the sale of electricity, heating and water, among others. 

State Atomic Energy Corporation Rosatom 

State Atomic Energy Corporation Rosatom (ROSATOM) is the Russian Federation national nuclear technology company. It provides a wide range of services in the nuclear production chain, from uranium exploration and mining, uranium conversion and enrichment, nuclear fuel fabrication, mechanical engineering, NPP design and construction, power generation, nuclear facility decommissioning and nuclear fuel and radioactive waste management. The company generates electricity from nuclear sources, and supplies that to customers. 



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