The world’s largest uranium-producing countries in 2020 – report

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(Kitco News) – Permanent closures and temporary mine suspensions due to the COVID-19 crisis affected global uranium production in 2020. Kazakhstan was the largest uranium-producing country in 2020, followed by Australia and Namibia.

Amid an emerging boom in the uranium market, which has recently been spurred by relentless spot uranium purchases primarily by the Sprott Physical Uranium Trust, the World Nuclear Association (WNA) has released production data. world of uranium in 2020.

According to the WNA, in 2020 total world uranium production was 47,731 tonnes, a significant 13% drop from 2019 (54,742 tonnes) and the lowest level of uranium production since over a decade. WNA said last year mined uranium only covered 74% of its global demand, which is also the lowest level in more than a decade.

In 2020, Kazakhstan produced the largest share of uranium from mining (41% of global supply), followed by Australia (13%) and Canada (8%).

Kazakhstan was the largest uranium producing country with 19,477 t U mined in 2020, or 15% less compared to the national production of 22,808 t U in 2019 due to the expected impact of the pandemic and the decrease in wellfield development activities, as well as lower workforce at local uranium mines in April-July 2020.

Australia was the second uranium producer with 6,203 tonnes of uranium produced in 2020, 6% less than in 2019 (6,613 tonnes). Uranium production ceased at Rio Tinto’s Ranger mine in January 2021. Australia’s known uranium resources are the largest in the world – nearly a third of the global total.

Namibia jumped one position and placed third in 2020. The country produced 5,413 tonnes of uranium in 2020, down 1% from 2019 (5,476 tonnes). Chinese companies have taken control of two uranium production mines in Namibia, Husab and Rössing.

Canada was the world’s largest producer of uranium for many years, accounting for about 22% of world production, but in 2009 was overtaken by Kazakhstan. In 2020, Canada was fourth and produced 3,885 tonnes of uranium, 44% less than in 2019 (6,938 tonnes). The decline in uranium production in Canada was due to suspensions related to COVID-19 at the Cigar Lake mine in Saskatchewan.

Uzbekistan fifth seat. This resource-rich Central Asian country produced 3,500 tonnes of uranium in 2020, unchanged from 2019. Uzbekistan does not process uranium locally and exports all of its produced stock to others. country.

The full list is on the graph.

The world’s largest uranium-producing countries in 2020

Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not a solicitation to effect an exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.


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