11 Largest Uranium Producing Countries in the World

10. Ukraine

Annual Nuclear Production: 288 tU

Ukraine extracts uranium from the underground deposits of the Central Ukrainian Uranium Province, primarily through the state enterprise VostGOK. The mining operations are deep, labor-intensive underground setups that face significant financial and infrastructure pressures due to ongoing geopolitical conflict. Recognizing uranium as a vital pillar of national security, the country has actively pivoted the entire nuclear fuel supply chain away from historical Russian processing connections, entering long-term processing agreements with Western partners like Westinghouse to supply the operating reactor fleet.

A key nuclear stock for investors to monitor is Lightbridge Corporation (NASDAQ:LTBR). The firm engages in research, developing, and commercializing nuclear fuel. It develops nuclear fuel for water-cooled reactors and metallic fuels under the Lightbridge Fuel. The company has a strategic partnership with Studsvik Scandpower to develop software for modeling metallic nuclear fuel. In early April, the company announced that it received a notice of allowance from the US Patent and Trademark Office for a patent application covering nuclear fuel element technology, designed for pressurized heavy-water reactors, including CANDU-type designs. The firm said the allowed claims describe a fuel assembly comprising a plurality of elongated fuel elements, each having a spirally twisted, multi-lobed profile that defines a plurality of spiral ribs.