Over the last decade, global uranium resources have grown by at least 25% due to intensified mineral exploration efforts.
Uranium, a widespread metal present in rocks and seawater, is more abundant than commonly thought. Economic concentrations are not rare, and the quantity of mineral resources depends on market prices and extraction costs.
Australia, Kazakhstan, and Canada collectively possess over 50% of the world’s uranium reserves, with Australia leading at 28% with over 1.7 million tonnes, notably from the Olympic Dam mine, the largest uranium deposit globally and the fourth largest copper deposit.
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Despite its abundance, Australia ranks fourth in current uranium production and fifth in all-time production. Russia and Namibia each hold about 8% of global reserves (approximately 470,000 tonnes). South Africa, Brazil, and Niger contribute 5% each to the world’s uranium reserves.
China holds a 4% share, while Mongolia, Uzbekistan, and Ukraine each have 2%. The rest of the world collectively accounts for 9% of global reserves, totaling around 6,078,500 tonnes.
According to the World Nuclear Association, Here are the top 10 countries with the highest uranium reserves in 2023:
Australia
Australia takes center stage as the undisputed leader in uranium reserves. With 1,684,100 tonnes, Australia commands 28% of the world’s uranium reserves. The vastness of the Australian landscape conceals a treasure trove that not only fuels domestic energy needs but also places the nation at the forefront of the global nuclear energy conversation.
Kazakhstan
Kazakhstan is the second-largest holder of uranium reserves. With 815,200 tonnes, Kazakhstan contributes 13% to global uranium reserves. The nation’s commitment to harnessing its uranium wealth not only fuels its economic development but also plays a crucial role in maintaining global energy stability.
Canada
Canada has 588,500 tonnes of uranium, constituting 10% of the world’s reserves. Canada’s dedication to responsible mining practices aligns seamlessly with its reputation as a responsible global citizen. The nation’s uranium wealth not only powers its industries but also exemplifies the delicate balance between energy needs and environmental stewardship.
Russia
Spanning Europe and Asia, Russia emerges as a significant player in the global uranium scene. With 480,900 tonnes, Russia’s contribution of 8% to the world’s uranium reserves reflects its historical prowess in the energy sector. The vast expanse of Russian territory conceals a resource that continues to shape the dynamics of the global energy market.
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Namibia
Namibia claims the fifth spot with 470,100 tonnes of uranium, constituting 8% of the global reserves. The nation’s journey in harnessing this valuable resource reflects not only economic aspirations but also a commitment to playing a significant role in the global uranium market.
South Africa
South Africa plays its role as the sixth-largest holder of uranium reserves, with 320,900 tonnes. Accounting for 5% of the global reserves, the Rainbow Nation’s uranium reserves intertwine with its broader contributions to the mining industry and global energy security.
Niger
In West Africa, Niger emerges as the seventh-largest holder of uranium reserves. With 311,100 tonnes, Niger aims to leverage its uranium resources for economic development and energy self-sufficiency, contributing 5% to the global uranium.
Brazil
Brazil extends its influence below the surface with 276,800 tonnes of uranium. Contributing 5% to the global reserves, Brazil’s uranium wealth plays a pivotal role in shaping its position in the broader nuclear energy landscape.
China
As China continues its rapid economic development, its demand for energy sources, including uranium, becomes increasingly prominent. With 223,900 tonnes, China claims the ninth position, contributing 4% to the world’s uranium reserves. The Eastern giant’s role in the global energy landscape reflects its aspirations for a sustainable and reliable energy future.
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Mongolia
Mongolia completes the top ten list with 144,600 tonnes of uranium, constituting 2% of the global reserves. The vast Mongolian steppes hold not only cultural and historical significance but also valuable resources that contribute to global energy.
