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

1. Australia

Total Uranium Reserves: 1,862,000 MT

Topping our list of the top 15 countries with the largest uranium reserves in the world in 2024 is Australia, with its vast uranium reserves of 1,862,000 metric tons. Australia holds the largest uranium reserves in the world, accounting for about one-third of global resources, and also the fourth-largest uranium producer, positioned behind Kazakhstan, Canada, and Namibia in global production rankings.

Australia is set to play a crucial role in the global uranium market due to its extensive mineral resources and history of uranium mining. As the fourth-largest producer of uranium worldwide, Australia accounted for 27.7% of global uranium resources in 2021. Production is expected to rise, reaching 5.1 kt by 2024, largely due to the reopening of the Honeymoon uranium mine, which will add around 1.1% to global supply.

Several new projects, such as Nolans, Bigrlyi, and Westmoreland, are also slated to start in the coming years, further increasing Australia’s output. While there is debate about the feasibility of developing domestic nuclear power, Australia’s stable political climate and strong commitment to resource development enhance its position as a key player in the uranium industry.

Key projects driving this growth include the expansion of the Olympic Dam and Ranger mines. The Olympic Dam, one of the world’s largest deposits, is undergoing significant development to boost production capacity. Moreover, the Four Mile project is expected to further increase Australia’s uranium output. These projects are crucial for meeting the rising global demand for nuclear energy, especially as countries seek cleaner energy alternatives. Australia is also investing in sustainable and efficient mining practices, focusing on modern technologies to enhance extraction and processing.

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