In this article, we discuss the 11 Largest Uranium Producing Countries in the World.
The global supply of mined uranium is highly consolidated, with the top three producing nations alone accounting for roughly 75% of the total output worldwide. Total global mine production sits at around 60,213 tonnes U, matching roughly 90% of global nuclear utility demand, with the remainder filled by secondary supplies, enriched tails re-enrichment, and military or commercial stockpiles. In-Situ Recovery mining dominates this industry. More than 55% of global uranium is now mined via In-Situ Recovery. This chemical extraction process pumps a leaching solution directly into sandstone aquifers to dissolve the uranium before pumping it back to the surface. It is the dominant method used in Kazakhstan and Uzbekistan due to low operational costs.
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In the past few years, there has been a rebound in uranium production in Canada. The country saw a production surge from 7,300 tU in 2022 to over 14,000 tU by 2024. This was driven by the successful operational restart and production ramp-up of the ultra-high-grade McArthur River and Key Lake operations by Cameco. News agency Reuters reports that global energy demand is projected to surge 50% by 2050, putting modern nuclear power directly in the spotlight as big tech companies scramble for 24/7, emissions-free baseline electricity. This urgent race for power has triggered historic sector consolidation. Earlier this month, NextEra Energy struck a massive $66.8 billion all-stock deal to acquire Dominion Energy to capitalize on the Virginia data center market, building on previous high-profile tech partnerships aimed at restarting dormant nuclear plants. Concurrently, industry coordination is pivoting hard toward Small Modular Reactors and advanced reactor deployment.
Our Methodology
The following list details the top uranium-producing countries based on the latest comprehensive global tracking data released by the World Nuclear Association, reflecting actual outputs up to 2024 and normalized figures heading into 2026.
Some nuclear stocks are also discussed. Data for the hedge fund sentiment surrounding each stock was taken from Insider Monkey’s Q4 2025 database of 1041 elite hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
Largest Uranium Producing Countries in the World
11. United States
Annual Nuclear Production: 260 tU
The United States produces a modest amount of uranium that reflects a deliberate effort to revitalize a once-dominant domestic industry. Domestic production is concentrated in Utah, Wyoming, and Texas, utilizing localized ISR methods and heap-leaching processes at legacy mills like White Mesa. Historically reliant on foreign imports for over 90% of commercial nuclear fuel, the US has triggered an administrative nuclear renaissance. Driven by federal restrictions on Russian imports, domestic producers are restarting idled operations to establish a secure, domestic supply chain for both legacy reactors and next-generation small modular reactors.
One of the best nuclear stocks to consider in this context is BWX Technologies, Inc. (NYSE:BWXT). The company manufactures and sells nuclear components in the United States, Canada, and internationally. It manufactures precision naval nuclear components, reactors, and nuclear fuel, as well as close-tolerance and high-quality equipment for nuclear applications. The firm recently delivered a strong Q1 2026 earnings report. Revenue hit $860.2 million, representing a 26.1% increase year-over-year compared to Q1 2025. Organic revenue growth was at 11%. Adjusted EPS came in at $1.12 per share, surging 22% year-over-year and comfortably beating the consensus analyst estimate of $0.92 to $0.93. Free Cash Flow was $50.1 million for the quarter, up nearly 190% from $17.3 million in Q1 2025.
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.
9. India
Annual Nuclear Production: 500 tU
Uranium production in India is tightly regulated and operated under strict state secrecy by the Uranium Corporation of India. Production is centered around low-grade underground deposits within the Jaduguda mining complex in Jharkhand. Because India is not a signatory to the Nuclear Non-Proliferation Treaty, it faces historical international restrictions on importing raw nuclear materials for military use. Consequently, domestic mining is prioritized to fuel indigenous heavy-water reactors, while the government pursues structural reforms, such as opening non-mining nuclear sectors to private investment, to ease the supply strain on the power grid.
A nuclear stock that Wall Street has an eye on is Uranium Royalty Corp. (NASDAQ:UROY). The firm operates as a pure-play uranium royalty company in Canada, the United States, Namibia, and Spain. It engages in the acquisition and assembly of a portfolio of royalties, investment in companies with exposure to uranium and physical uranium, and purchase and sale of physical uranium. The company also owns and manages a portfolio of geographically diversified uranium interests. In mid-April, the firm announced that it had agreed to merge with entities owning a 92% interest in privately held land and mineral royalty company Sweetwater Royalties.
8. Niger
Annual Nuclear Production: 962 tU
The uranium production in Niger is centered around the high-grade sandstone deposits of the Arlit region in the Air Mountains. Extraction has historically been managed through French state-backed partnerships operating deep underground and open-pit mines. The mining sector in Niger has faced severe operational headwinds due to geopolitical instability and regional security shifts, which disrupted export transport routes and complicated supply chains. Despite these logistical hurdles, high-grade sandstone formations remain fundamentally crucial to European utilities, pushing the state to seek out new international infrastructure partnerships to stabilize mineral exports.
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A nuclear company attracting interest from international investors is Ur-Energy Inc. (NYSE:URG). The firm engages in the acquisition, exploration, development, and operation of uranium mineral properties in the United States. It holds interests in 12 projects located in the United States. The flagship property is the Lost Creek project covering an area of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 35,400 acres located in the Great Divide Basin, Wyoming. The firm recently posted earnings for the first quarter of 2026, reporting losses per share of $0.07 and a revenue of more than $1.2 million. Management also outlined $25.5 million Shirley Basin 2026 capex as it targets commercial production this summer.
7. China
Annual Nuclear Production: 1,600 tU
China produces uranium domestically each year, utilizing a mix of underground operations and local ISR fields. However, this domestic output represents only a fraction of what the nation actually requires. To fuel rapid domestic build-out of new commercial nuclear reactors, Beijing relies on an aggressive dual-track acquisition strategy. State utilities like CGN and CNNC secure large-scale equity stakes in operating mines across Namibia and Kazakhstan, while simultaneously building massive strategic stockpiles. This ensures that their ambitious long-term domestic energy targets remain insulated from international supply disruptions.
A nuclear stock attracting interest worldwide is Energy Fuels Inc. (NYSE:UUUU). The firm engages in the exploration, recovery, recycling, operation, development, permitting, evaluation, and sale of uranium mineral properties in the United States. It produces and sells vanadium pentoxide, rare earth elements, carbonate, and heavy mineral sands, such as ilmenite, rutile, zircon, and monazite. Earlier this month, the company posted earnings for the first quarter of 2026. Revenue was in excess of $35.8 million, up 112% year-on-year and beating estimates by $4 million. The company generated $8.3 million in cash from operating activities during the three months ended March 31, 2026, compared to $18.8 million used in cash from operating activities during the same period in 2025.
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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