In this piece, we will take a look at the five countries with the largest uranium reserves in the world. For more countries, head on over to 15 Countries With the Largest Uranium Reserves in the World.
5. Republic of Namibia
Uranium Reserves as of 2019 in tonnes: 504,200
The Republic of Namibia is a Southern African country that gained independence from South Africa in 1990. The country was the world’s third largest producer of uranium, and the largest in Africa, in 2021. Several global uranium mining companies play a major role in the Namibian mining industry. These include the Rio Tinto Group (NYSE:RIO), Paladin Energy Ltd (OTCMKTS:PALAF), and the China National Nuclear Corporation (CNNC). Namibia produced 5,753 tonnes of Uranium in 2021.
4. Russian Federation
Uranium Reserves as of 2019 in tonnes: 661,900
The Russian Federation, simply known as Russia, is the largest country in Europe in terms of landmass. Russia has some of the largest natural resources in the world and is known for exporting natural gas – which has become controversial due to its brutal invasion of Ukraine in 2022. Russia was the world’s seventh largest uranium producer and the fifth largest nuclear power generator in 20212. It operated 37 reactors capable of generating 27,727 Megawatts of electricity. The government finances uranium production, and all Russian mining operations are part of the State Atomic Energy Corporation ROSATOM.
3. Canada
Uranium Reserves as of 2019 in tonnes: 873,000
Canada is a North American country that is one of the most developed nations in the world, and a rare developed country that relies on commodities for its foreign exchange. Canada also has 19 nuclear reactors that are capable of producing 13,624 Megawatts of electricity which made up 20% of Canada’s power requirements in 2021. Canada was also the world’s fourth largest uranium producer in 2021, having churned out 4,693 tonnes of the fuel. Key Canadian uranium mining companies are Cameco Corporation (NYSE:CCJ) and the French government owned firm Orano SA.
2. Republic of Kazakhstan
Uranium Reserves as of 2019 in tonnes: 969,200
The Republic of Kazakhstan is a transcontinental country located in Asia and Europe. The country’s vast oil and gas industry makes it a power player in Central Asian politics, with oil representing more than half of its exports. Kazakhstan does not use nuclear power for electricity; however, it is the world’s largest uranium producer as of 2021 after having produced 21,819 tonnes – higher than the next five countries combined. Key industry players are Kyzylkum LLP, Zarechnoye JSC, Inkai JV LL, Kazatomprom-SaUran LLP, JV Katco LLP, JV Akbastau JS, JV South Mining Chemical Company LLP (SMCC), and Volkovgeology JS.
1. Commonwealth of Australia
Uranium Reserves as of 2019 in tonnes: 2,049,400
The Commonwealth of Australia, or simply Australia, is an Oceanian country. Despite being the world’s second largest uranium producer in 2021 by having produced 4,192 tonnes, Australia does not have a nuclear power plant. The country’s Olympic Dam mine is the world’s largest known deposit of uranium, and key players in the uranium mining industry are BHP Group Limited (NYSE:BHP) and Rio Tinto Group (NYSE:RIO).
Disclosure: None. You can also take a peek at 10 Cheap Solar Stocks to Buy and 11 Best American Oil Stocks To Buy.
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