Uranium explorers zero in on Athabasca Basin as demand surges

The Athabasca Basin, an area spanning 100,000 square kilometers in northern Saskatchewan and a small part of Alberta in Canada, produces about 10% of the world’s uranium. The region contains the largest high-grade uranium deposits in the world, with grades ranging from 10 to 100 times greater than the average grades of deposits located elsewhere.

As geopolitical shifts and climate concerns have prompted a resurgence in nuclear energy projects, demand for uranium is expected to increase 28% by 2030 and nearly double by 2040, according to a 2023 report from the World Nuclear Association.

This supply tightness has seen the uranium price soar to a 16-year high of $106 per pound in early February 2024.

Given these market dynamics, the Athabasca Basin is seeing renewed interest from major players and junior miners alike.The Basin hosts the world’s largest high-grade uranium mine and mill, Cameco Corporation (TSX:CCO) ‘s McArthur River/Key Lake operation. Cameco […]

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