A recent report by IndustryARC predicts a steady growth in the global uranium market, estimating a rise to $12.7 billion by 2030, with an annual increase of 4.3% from 2024 onwards. Uranium, essential for producing radioisotopes used in medical treatments and industrial applications like sterilization, plays a crucial role worldwide.
Kazatomprom – Kazakhstan
Producing 11,373 tonnes of uranium in 2022, JSC National Atomic Company Kazatomprom (LSE:KAP) stands tall as the top uranium producer worldwide. Based solely in Kazakhstan, this company manages all aspects of uranium production, making up 23% of the global supply.
Cameco Corporation – Canada
Canadian-based Cameco Corporation (NYSE:CCJ) secures the second spot, contributing 5,675 tonnes of uranium to the global market in 2022. With a 12% share in worldwide production, Cameco is a key provider of uranium for clean energy generation and nuclear power plants globally.
Orano – France
With a production of 5,519 tonnes in 2022, Orano, a French multinational, claims its place among the top three uranium producers globally. Majority-owned by the French government, Orano engages in various nuclear activities, contributing 11% to the global uranium production scene.
China General Nuclear Power Group (CGN) – China
In 2022, China General Nuclear Power Group (CGN), a major state-owned energy corporation in China, contributed significantly to the global uranium market by producing 4,627 tonnes of uranium. Operating multiple nuclear plants domestically, CGN plays a crucial role in meeting approximately 10% of the world’s uranium demand.
Uranium One – Russia
Uranium One, an international consortium of companies, emerges as one of the top five uranium producers globally. Although indirectly linked to the Russian state-owned nuclear entity Rosatom, Uranium One manages and operates uranium mines in Kazakhstan through its subsidiaries and partnerships. With a 9% share in global uranium production, Uranium One produced 4,454 tonnes of uranium in 2022.
Navoi Mining and Metallurgy Combinat – Uzbekistan
Standing as a key player in uranium production, Navoi Mining and Metallurgy Combinat, a state-owned enterprise in Uzbekistan, mined 3,300 tonnes of uranium in 2022. Renowned as one of Uzbekistan’s largest mining firms, it also boasts a prominent position among the world’s leading producers of uranium and gold. With its primary ore deposits situated in the Kyzyl Kum Desert, Navoi Mining and Metallurgy Combinat ranks sixth among the top uranium-producing companies globally.
