5 Countries with the Largest Uranium Reserves in the World in 2024

2. Kazakhstan

Total Uranium Reserves: 736,000 MT

Kazakhstan, with its significant uranium reserves of 736,000 metric tons, ranks 2nd in our list of the top 15 countries with the largest uranium reserves in the world in 2024. Kazakhstan is establishing itself as a leading player in the global uranium market, thanks to its extensive reserves and strategic advantages. As the largest producer of uranium, Kazakhstan supplied 43% of the world’s uranium in 2022 and holds two-thirds of the world’s in-situ leaching (ISL)-suitable reserves. This extraction method enables the country to produce uranium at lower costs, giving its national company, Kazatomprom, a significant edge and influence in global markets. Kazakhstan has leveraged these cost advantages to modernize its industry and expand production dramatically, growing from 796 metric tons in 1997 to a projected 31,000 metric tons by 2025.

A key development in their expansion is C29 Metals’ acquisition of the Ulytau uranium project, aimed at boosting production to meet the rising global demand for nuclear energy. The Ulytau project, located centrally in Kazakhstan, marks a substantial increase in the country’s uranium mining capabilities. This project is expected to enhance production capacity and strengthen Kazakhstan’s position as one of the top 15 countries with the largest uranium reserves in the world in 2024.