Uranium mining: company screen and market outlook?

This data-file is a screen of companies in uranium mining and also contains useful supply-data on the global uranium market. We profile large producers, such as Kazatomprom, Cameco, smaller miners, and the the 200M lbs pa for U3O8 yellow-cake, with a breakdown by country, and approximated forecasts through 2035.

We have screened c20 uranium miners, assessing each company’s production, reserves, asset base, size and recent news flow. 10 of the companies are publicly listed, while the remainder are private or state-owned.

Uranium supply-demand forecasts are also presented in the data-file, along with notes and CO2 intensity calculations for the sector.

Our market outlook is that firm uranium supply could be around 100M lbs pa under-supplied by 2030, on a U3O8 yellow-cake basis.

This is even after mine restorations (especially in Canada), and attributes both to >3% pa demand growth and the slow decline of pre-existing mines.

Hence we see the need for additional uranium mines, ramping nuclear energy both to alleviate energy shortages and to progress the energy transition.

Our screen of companies in uranium mining includes proposed new mine projects in the US, Australia, Canada; which are being progressed by junior miners. Interestingly, some will co-produce Rare Earth metals.

All of our research into nuclear in the energy transition can also be viewed chronologically. There is also a read across to mining equipment companies and upside for mining in the energy transition.

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