Uranium Production by Country and World 1956-2022

This bar chart race shows the estimated annual uranium production by country/territory and world from 1956 to 2022.

From 1956 to 2022, uranium production has undergone significant changes, driven by geopolitical, technological, and energy market factors. Here's an overview of the key trends over this period:

1950s–1970s: Growth Driven by Cold War and Nuclear Power

1956–1960s: The early decades of this period were marked by a surge in uranium production, driven primarily by the Cold War and the nuclear arms race. The U.S. and the Soviet Union had a high demand for uranium to fuel their nuclear weapons programs. During the 1950s, major uranium mining took place in the U.S., Canada, South Africa, and Australia.
1970s: In the 1970s, uranium production shifted more toward peaceful uses, with the expansion of nuclear power plants in response to the oil crises of 1973 and 1979. Countries like the U.S., Canada, and France became top producers as nuclear power began to be viewed as a viable energy source.

1980s: Nuclear Energy Boom and Decline

The 1980s saw continued growth in nuclear energy, with increased uranium demand for civilian nuclear reactors. Canada became a leading producer, with large deposits in Saskatchewan. However, by the late 1980s, uranium production began to decline due to falling demand. The Chernobyl disaster (1986) raised concerns about nuclear safety, and many countries slowed down or halted their nuclear expansion plans.

1990s: Decline and Oversupply

In the 1990s, uranium production continued to decline. The collapse of the Soviet Union and the end of the Cold War reduced the demand for uranium, and large stockpiles from decommissioned nuclear weapons flooded the market. The "Megatons to Megawatts" program, in which highly enriched uranium from Soviet nuclear warheads was converted into fuel for U.S. reactors, further contributed to the oversupply. Prices fell, and many mines were either mothballed or closed.

2000s: Revival with Nuclear Renaissance

The early 2000s saw a revival in uranium production, driven by the so-called "nuclear renaissance." Countries like China and India, seeking to diversify their energy sources and reduce carbon emissions, ramped up their nuclear power programs, creating renewed demand for uranium. Kazakhstan emerged as the world's leading uranium producer, surpassing Canada and Australia by the end of the decade. By 2009, Kazakhstan produced more than 27% of the world’s uranium.

2010s: Fukushima Disaster and Market Stagnation

The Fukushima Daiichi nuclear disaster in 2011 was a major turning point for the uranium industry. It caused a sharp decline in nuclear energy expansion, especially in countries like Japan and Germany, which either shut down reactors or phased out nuclear energy. As a result, uranium demand decreased significantly, leading to excess supply and falling prices. Many uranium mines, including those in the U.S. and Canada, were forced to close due to unprofitability, and global production stagnated throughout the 2010s.

2020s: Market Adjustments and New Interest

From 2020 onwards, uranium production started adjusting to market conditions. Kazakhstan continued to dominate global production, accounting for over 40% of the world’s supply. Canada and Australia remained key players, but with lower output. Recently, a renewed interest in nuclear energy as a low-carbon energy source has emerged, particularly due to climate change concerns and the push for clean energy.
By 2022, rising energy demands, concerns over fossil fuel use, and the volatility of energy markets—especially following the pandemic and geopolitical tensions such as the Russia-Ukraine war—sparked new interest in nuclear power. Countries like China, India, and Russia are still expanding their nuclear fleets, while discussions on modernizing nuclear energy with small modular reactors (SMRs) are growing, potentially boosting future uranium demand.

Overall, the history of uranium production from 1956 to 2022 reflects the shifting priorities in global energy, the impact of political and environmental crises, and the potential future role of nuclear energy in achieving low-carbon energy goals.

Data sources: British Geological Survey (BGS), OECD-NEA, IAEA, World Nuclear Association

Data visualization created with flourish.studio https://flourish.studio