5 Largest Uranium Producing Countries in the World

2. Canada

Annual Nuclear Production: 14,309 tU

Canada has experienced a powerful uranium production resurgence, solidifying second-place position by representing roughly 24% of the global supply. This comeback is driven by the highest-grade uranium deposits nestled within the Athabasca Basin in northern Saskatchewan. Mining major Cameco Corporation (NYSE:CCJ) leads operations at the ultra-high-grade Cigar Lake and McArthur River/Key Lake facilities. Unlike the porous sandstone found elsewhere, the deposits sit in challenging, water-bearing sandstone formations. This requires specialized jet-boring mining techniques and massive ground-freezing systems to keep water out of the high-grade underground caverns. The resulting high concentration yields immense volume from remarkably compact mining footprints.

Cameco Corporation (NYSE:CCJ) remains one of the hottest nuclear stocks on the market. The firm provides uranium for the generation of electricity in the Americas, Europe, and Asia. It engages in the exploration for, mining, milling, purchase, and sale of uranium concentrate. The Fuel Services segment is involved in the refining, conversion, and fabrication of uranium concentrate, as well as purchase and sale of conversion services. In earnings for the first quarter of 2026, the firm posted earnings per share of $0.47, beating estimates by $0.22. The revenue over the period was $845 million, up 7.1% year-on-year and beating analyst expectations by $249.8 million.