Recovery and Expansion

In 2023, Kazakhstan held the torch for global uranium production, contributing 37.3% of the total supply. Despite a slight dip in output, mainly due to planned reductions by Kazatomprom, the country is poised for a resurgence. By 2024, their anticipated output will soar to 23.2kt, with production expected to surge further in 2025 without constraints.

Adding to the global supply surge is the continued escalation of production from Canada’s McArthur River. The project sets its sights on a 2024 uranium yield of 6.9kt (equivalent to 8.2kt of U3O8). With licenses guaranteed until October 2043, following the Canadian Nuclear Safety Commission’s twenty-year renewal, the mine’s operations are secure.

Embrace the Glow: Discover more about Uranium price hikes and shortfall flags from the top miner.