Australian uranium hopefuls bolstered by global uranium production predictions

Australian uranium hopefuls bolstered by global uranium production predictions

Experts are predicting uranium production to increase by more than 3% in 2021, despite the closure of the Ranger mine in Northern Territory in January. Global production is expected to grow at a compound annual growth rate of 6.2% over the 2021-2025 period. Global uranium production is tipped to increase by 3.1% in 2021, bolstering the hopes of a handful of Australian uranium hopefuls.

Experts at data analyst consultancy GlobalData have predicted 51,200 tonnes of uranium will be produced this year, largely thanks to the return of production at Cigar Lake in Canada and increased output growth from leading uranium producers Kazakhstan and Russia.

The production increase comes despite a predicted 21.2% drop in Australian uranium production due to the renowned Ranger mine in the Northern Territory closing down after 40 years of service. Market on road to recovery

Associate project manager at Global Data Vinneth Bajaj said uranium would begin […]

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