11 Largest Uranium Producing Countries in the World

6. Russia

Annual Nuclear Production: 2,738 tU

Russia maintains a production baseline of uranium from domestic reserves, primarily managed by the state nuclear corporation Rosatom via mining subsidiary ARMZ. Domestic extraction occurs within the underground mines of the Transbaikal region and expanding ISR projects in the Kurgan and Buryatia territories. However, Russian influence extends far beyond raw mining numbers; the country is an international heavyweight in the critical downstream conversion and enrichment stages of the nuclear fuel cycle. Even as direct imports face legislative bans in major Western economies, Russia utilizes domestic and Kazakh-sourced raw materials to feed an extensive fuel-fabrication export network.

Hedge funds are bullish on nuclear stocks like Uranium Energy Corp. (NYSE:UEC). The firm engages in exploration, pre-extraction, extraction, and processing of uranium and titanium concentrates properties in the United States, Canada, and the Republic of Paraguay.  In early April, the company announced that it had received approval from the Texas Commission on Environmental Quality and commenced production at the Burke Hollow project, the first new US in-situ recovery operation in more than a decade. The business now operates two active ISR platforms in the US following recent capacity expansion approvals at the Christensen Ranch facility in Wyoming. Production from Burke Hollow will be processed at the Hobson Central Processing Plant, which holds a license to produce up to 4M lbs/year of uranium.

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