Uranium Mining Market Analysis by Reserves, Production, Assets, Demand Drivers and Forecast to 2030
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Uranium Mining Market Report Overview
Uranium production was estimated to be 54kt in 2023. Ramping up of the uranium production at Canada’s McArthur River mine, which re-started in November 2022, was the leading factor for the growth in production during 2023. The production growth is further expected to be driven by the planned increase in output from Kazakhstan’s largest uranium producer, Kazatomprom, and the restart of Australia’s Honeymoon project. Uranium production is expected to grow marginally at a CAGR of more than 4% from 2024 to 2030.
Uranium Mining Market Outlook, 2023 – 2030 (Kt)
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The uranium mining market research report provides detailed historical and forecast period data on the global uranium industry. It provides a complete view of the uranium reserves globally, with a breakdown of key uranium mining countries and the prevailing uranium prices in those countries. It also analyzes the competitive business landscape, highlighting company profiles of a few of the major market participants. Furthermore, the report sheds light on the major active mines, as well as upcoming development and exploration projects by region.
Market Size (2023) | 54kt |
CAGR (2024-2030) | >4% |
Forecast Period | 2024-2030 |
Historical Period | 2010-2023 |
Key Countries | · Kazakhstan
· Canada · Niger · Australia · Namibia · Ukraine |
Active Mines | · Cigar Lake Project
· Husab Uranium Mine · Olympic Dam Mine · Inkai Mine · Tortkuduk Mine |
Development Projects | · Rook I Project
· Horseshoe-Raven Project · Wheeler River Project · Etango Project · Midwest Project |
Exploration Projects | · Walbiri Project
· Prairie Lake Project · Storsjon Project · Potchefstroom Project · Khamsin Project |
Leading Companies | · Kazatomprom
· Orano SA · Cameco Corp · BHP |
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Uranium Mining Market Segmentation by Country
According to the World Nuclear Association, the world’s recoverable resources of uranium totaled 6.1 million tonnes (MtU) in 2021. The countries holding significant uranium reserves are Australia, Kazakhstan, Canada, Russia, and Namibia among others. In 2023, Australia had the largest share followed by Kazakhstan, Canada, Russia, and Namibia. In terms of uranium production, Kazakhstan led the market followed by Canada.
Uranium Mining Reserves Market Analysis by Countries, 2021 (%)
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Uranium Mining Market - Active Mines
A few of the major active Uranium mines are Cigar Lake Project, Husab Uranium Mine, Olympic Dam Mine, Inkai Mine, and Tortkuduk Mine among others. Cigar Lake Project was the mine having annual saleable uranium production worth 8,164.7 tonnes. It is owned by Cameco Corp, Orano SA, and Tepco Resources Inc.
Uranium Mining Market Analysis by Active Mine, 2023 (%)
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Uranium Mining Market - Development Projects
A few of the major uranium mining projects that are in the development phase include the Rook I Project, Horseshoe-Raven Project, Wheeler River Project, Etango Project, and Midwest Project among others.
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Uranium Mining Market - Exploration Projects
A few of the major uranium exploration projects are the Walbiri Project, Prairie Lake Project, Storsjon Project, Potchefstroom Project, and Khamsin Project among others. The Walbiri Project had total resources worth 7,456.0 Mt. The project is owned by China Uranium Development Co., Ltd. and Northern Territory Uranium Pty Ltd.
Uranium Mining Market Analysis by Exploration Projects, 2023 (%)
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Uranium Mining Market - Competitive Landscape
Kazatomprom, State Atomic Energy Corporation Rosatom (Rosatom), China National Nuclear Corp. (CNNC), Oranco SA, and Cameco Corp are the top five uranium-producing companies in the world. Kazatomprom was the leading company with the highest capacity in 2022.
Kazatomprom: Kazatomprom is the world’s largest uranium producer headquartered in Astana, Kazakhstan. The company is a subsidiary of JSC Samruk-Kazyna National Welfare Fund, engaged in importing and exporting uranium, rare metals, and nuclear fuel for power plants, special equipment technologies, and dual-purpose materials. Kazatomprom operates through 14 mining assets with 26 uranium deposits or areas, all of which are located in Kazakhstan and around 66% are mined using the ISR mining method.
Leading Uranium Mining Companies, 2022 (%)
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Segments Covered in the Report
Uranium Mining Market Countries Outlook (Value, Reserves, 2010-2030)
- Kazakhstan
- Canada
- Niger
- Australia
- Namibia
- Ukraine
Scope
- Reserves and Production Data: Access detailed information on reserves, reserves by country, production figures, production by country, and production by company.
- Key Players: Learn about the major players in the industry like Kazatomprom, Rosatom, China National Nuclear Corp., Orano SA, Cameo, and BHP.
- Country Insights: Discover leading uranium-producing countries such as Kazakhstan, Canada, Niger, Australia, Namibia, and Ukraine .
- Project landscape: Gain insights into uranium explorational and developmental projects, as well as active mines.
Reasons to Buy
- Understand market trends: Gain a comprehensive understanding of uranium mining by exploring country-wise market dynamics, identifying key assets, and assessing the competitive landscape.
- Strategic market analysis: Navigate the industry with ease by exploring historical and forecast trends to anticipate market shifts and make forward-looking decisions.
- Forge valuable partnerships: Identify key players in the uranium mining market and access exclusive information on key stakeholders such as uranium producers, government entities, suppliers, and more.
- Uncover major projects: Dive into a detailed overview of major active, explorational, and developmental mining projects across various regions.
Table of Contents
Table
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Frequently asked questions
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Which country had the largest uranium reserves in 2021?
Australia had the largest uranium reserves in 2021.
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Which are the major active Uranium mines in the market?
A few of the major active Uranium mines are Cigar Lake Project, Husab Uranium Mine, Olympic Dam Mine, Inkai Mine, and Tortkuduk Mine among others.
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Which are the major development projects in the uranium mining market?
A few of the major Uranium mining projects that are in the development phase include the Rook I Project, Horseshoe-Raven Project, Wheeler River Project, Etango Project, and Midwest Project.
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Which are the major exploration projects in the uranium mining market?
A few of the major uranium exploration projects are the Rook I Project, Horseshoe-Raven Project, Wheeler River Project, Etango Project, and Midwest Project.
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Which are the leading companies in the uranium mining market?
A few of the leading uranium-producing companies are Kazatomprom, State Atomic Energy Corporation Rosatom (Rosatom), China National Nuclear Corp. (CNNC), Oranco SA and Cameco Corp.
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