Global Leaders in Uranium Production: Understanding the World's Largest Uranium-Producing Countries

The uranium market stands at a pivotal moment. After reaching a 17-year high of US$106 per pound in early 2024, prices have moderated to approximately US$70 per pound by mid-2025, yet market fundamentals remain bullish due to persistent supply-demand imbalances. Understanding which nations dominate global uranium production is critical for investors, energy strategists, and those tracking nuclear fuel security.

Market Dynamics and the Resurgence of Nuclear Energy

Global uranium production experienced a dramatic trajectory over the past 15 years. The sector peaked in 2016 with 63,207 metric tons of global output, followed by a prolonged contraction as oversupply and post-Fukushima energy hesitancy rendered many operations economically unviable. By 2022, production had contracted to 49,355 metric tons—a 22% decline from the peak.

However, a fundamental shift occurred starting in 2021. Renewed global commitment to nuclear energy as a decarbonization solution, coupled with supply concerns emanating from major producing regions, triggered a market recovery. Today, nuclear power supplies roughly 10% of global electricity, with projections indicating substantial growth as countries pursue net-zero climate targets. This resurgence has prompted uranium miners to restart dormant operations and expand existing capacity.

Kazakhstan: The World’s Dominant Uranium Supplier

Kazakhstan stands unequivocally as the largest uranium producing country globally, a position it has maintained since 2009. In 2022, Kazakhstan supplied 21,227 metric tons of uranium—representing an extraordinary 43% of global uranium production. The nation’s resource base is equally impressive: when last documented in 2021, Kazakhstan held 815,200 metric tons of known recoverable uranium resources, trailing only Australia globally.

The bulk of Kazakhstan’s uranium emerges through in-situ leaching (ISL) technology, a method that minimizes environmental footprint while maintaining operational efficiency. Kazatomprom, the country’s state-owned uranium enterprise and world’s largest uranium producer, operates extensive projects across multiple jurisdictions. A significant portion of Kazatomprom’s portfolio comprises the Inkai mine—a 60/40 joint venture with Canadian major Cameco. Inkai generated 8.3 million pounds of uranium concentrate (U3O8) in 2023 but experienced temporary production suspension in early 2025 due to regulatory delays, subsequently resolved.

News in 2024 that Kazatomprom might miss its production targets for both 2024 and 2025 reverberated through global markets, contributing meaningfully to uranium prices breaching the US$100-per-pound threshold. In May 2025, Kazatomprom’s subsidiary secured US$189 million in financing to construct an 800,000-metric-ton-per-year sulfuric acid processing facility in the Turkestan region, with commercial operations anticipated by Q1 2027. This infrastructure investment signals the company’s commitment to expanded downstream capabilities.

North American and African Uranium Assets

Canada’s Production Resurgence

Canada ranks as the second-largest uranium producing country, though its trajectory contrasts sharply with Kazakhstan’s consistency. Canadian output totaled 7,351 metric tons in 2022, dramatically below the 2016 peak of 14,039 metric tons when low uranium prices forced mine closures across Saskatchewan and northern regions. The rebound began in 2022 and accelerated through 2024.

Two operations define Canadian uranium: Cigar Lake and McArthur River, both situated in Saskatchewan and operated by Cameco. These mines are legendary within the sector—MDO’s mining database notes that ore grades at both facilities exceed global average concentrations by a factor of 100. McArthur River operations ceased in 2018 due to market economics but resumed normal production in November 2022. By 2023, Cameco produced 17.6 million pounds of uranium (7,983 metric tons), exceeding prior-year levels but falling short of the 20.3-million-pound target. Production momentum accelerated in 2024, reaching 23.1 million pounds and surpassing company guidance. For 2025, Cameco projects combined output of 36 million pounds across both facilities.

Saskatchewan’s Athabasca Basin, renowned internationally for world-class uranium deposits and mining-friendly regulatory environments, continues attracting exploration capital. The region’s decades-long history in uranium mining reinforces its positioning as a global sector leader.

Namibia’s Rising Output

Namibia claimed the third position with 5,613 metric tons of uranium production in 2022. After declining to a trough of 2,993 metric tons in 2015, the African nation experienced steady production expansion. Remarkably, Namibia briefly surpassed long-established Canada to capture second place in 2021, and nearly matched Canadian production in 2022 despite slipping to third rank.

Three core mining assets anchor Namibian production: Langer Heinrich, Rössing, and Husab. Langer Heinrich, operated by Paladin Energy, was shuttered in 2017 amid uranium price weakness. Bolstered by the recent price recovery, Paladin restarted the mine and achieved commercial production status in Q1 2024. Production guidance has proven volatile—the company initially forecast 4 to 4.5 million pounds of U3O8 for fiscal 2025 but revised downward to 3 to 3.6 million pounds in November 2024 due to ore stockpile inconsistencies and water supply constraints. Following severe rainfall disruptions in March 2025, Paladin withdrew guidance entirely and now faces two class action lawsuits regarding the guidance revisions.

Rössing, the world’s longest-operating open-pit uranium mine, was transferred to Chinese ownership (China National Uranium) by Rio Tinto in 2019. Recent mine-life extensions push operational continuity to 2036. The Husab mine, majority-owned by China General Nuclear, ranks among the world’s largest uranium operations by volume. Current development includes a pilot heap-leach program evaluating lower-grade ore processing economics, with results expected in 2025.

Asian Producers and Emerging Supply Dynamics

Uzbekistan’s Strategic Expansion

Uzbekistan entered the top-five uranium-producing nations in 2020 and held fifth place in 2022 with 3,300 metric tons. The Central Asian nation’s domestic production has grown incrementally since 2016, driven by Japanese and Chinese joint venture participation. Navoiyuran, spun out from state operations in 2022, now manages the nation’s uranium mining and processing.

International partners recognize Uzbekistan’s strategic importance. Orano (France’s major uranium enterprise) announced a partnership in November 2023, complementing an earlier 51/49 joint venture called Nurlikum Mining, which develops the South Djengeldi project. In early 2025, Japan’s ITOCHU acquired a minority stake in the South Djengeldi venture. This 700-metric-ton-annual-capacity mine, situated in the Kyzylkum Desert, could double its resource base through ongoing exploration—a milestone that would substantially enhance regional supply.

China Nuclear Uranium similarly partnered with Uzbekistan in March 2024, reflecting Beijing’s strategy to secure one-third of its nuclear fuel requirements from domestic sources, one-third through foreign equity stakes and joint ventures, and one-third through spot market purchases.

Russia and Secondary Asian Contributors

Russia produced 2,508 metric tons in 2022, holding sixth place. Output has remained relatively stable since 2011, typically fluctuating between 2,800 and 3,000 metric tons annually. The state-owned Rosatom subsidiary operates the Priargunsky mine and develops the Vershinnoye deposit in Southern Siberia. In 2023, Rosatom exceeded production targets by 90 metric tons, demonstrating operational efficiency improvements. A new facility—Mine No. 6—is slated to commence uranium extraction in 2028.

China ranked eighth with 1,700 metric tons in 2022, reflecting steady growth from 885 metric tons in 2011. China General Nuclear Power, the sole domestic uranium supplier, is aggressively expanding fuel supply agreements across Kazakhstan, Uzbekistan, and international markets. A 2025 breakthrough by Chinese scientists demonstrated successful uranium extraction from seawater using hydrogel technology—a pilot demonstration plant targets completion by 2035, potentially unlocking vast oceanic uranium reserves for future nuclear expansion.

India (ninth place, 600 metric tons in 2022) maintains 25 operating nuclear reactors with eight additional units under construction. The government aims to achieve 100 gigawatts of nuclear capacity by 2047, signaling substantial future uranium demand.

African Supply Challenges and Geopolitical Risks

Niger and Political Uncertainty

Niger, once a reliable supplier contributing 2,020 metric tons in 2022, faces unprecedented geopolitical headwinds. The nation’s SOMAIR and COMINAK mines, operated through Orano subsidiaries, historically supplied 5% of global uranium. Niger’s uranium accounts for 15% of France’s nuclear fuel and approximately one-fifth of European Union imports—making recent political developments highly consequential.

A military coup in 2023 prompted a comprehensive mining sector overhaul. The junta announced intentions to enhance state control over uranium resources, temporarily halting new mining licenses while renegotiating existing agreements. By mid-2024, Niger revoked GoviEx Uranium’s Madaouela mining license and Orano’s operating permit for the Imouraren project. The government subsequently granted a small-scale mining permit for the Moradi project to state-owned COMIREX, approved in February 2025, representing an upgrade to prior semi-mechanized licensing and reinforcing national sovereignty over uranium assets.

Global Atomic continues developing its Dasa project, targeting plant commissioning by early 2026, though regulatory uncertainties persist.

Investment Implications and Market Outlook

The largest uranium producing country’s dominance—Kazakhstan—demonstrates how geopolitical stability, technical expertise, and resource abundance converge to establish market leadership. Yet the diversity of the top 10 uranium-producing nations reveals that global nuclear expansion depends on supply diversification.

Forward-looking analysts maintain conviction in sustained uranium market strength. The supply-demand imbalance, coupled with accelerating nuclear capacity commitments globally, supports favorable long-term pricing dynamics. Recent technological breakthroughs—from Canada’s mining efficiency to China’s seawater extraction research—expand future supply optionality.

In South Africa, Sibanye-Stillwater and global investment firm C5 Capital forged a strategic partnership to develop uranium projects and small modular reactor fuel supply capabilities, signaling investor enthusiasm for downstream nuclear infrastructure.

For market participants tracking uranium sector dynamics, understanding production geographies and operational economics remains fundamental. The world’s largest uranium producing countries collectively determine global energy security and climate mitigation pathways for decades to come.