5 Largest Uranium Producing Countries in the World

4. Australia

Annual Nuclear Production: 4,598 tU

Australia possesses the single largest known underlying uranium resource base globally, yet strict state-level regulatory policies keep actual production constrained to around 7.6% of global supply. The output originates from just two primary operations. The largest is the BHP Olympic Dam underground complex in South Australia, where uranium is recovered as a lucrative by-product of a world-class copper and gold deposit. The remainder is extracted via Four Mile In-Situ Recovery operation by Heathgate Resources. While expansive deposits sit untouched across Western Australia and the Northern Territory due to political bans on new permits, Australia remains a critical, highly stable supplier to Western utilities.

Investors should follow BHP Group Limited (NYSE:BHP) to ride the nuclear wave sweeping the stock market as oil futures remain uncertain. The firm operates as a resources company in Australia, Europe, China, Japan, India, South Korea, rest of Asia, North America, South America, and internationally. It also engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal. In addition, the company is involved in the mining, smelting, and refining of nickel, as well as potash development activities. Late last month, news agency Reuters reported that China had lifted a ban on purchases of certain BHP ore products that had piled up at ports.