Demand for uranium is booming. Who is benefiting?

Kazakhstan is the world’s largest miner of uranium, followed by Canada, Namibia and Australia. Photo: Reuters Summary

One Central Asian country stands out above the rest

On July 3rd Vladimir Putin, Russia’s president, and Xi Jinping, China’s leader, attended the annual summit of the Shanghai Co-operation Organisation, a Eurasian security and defence partnership, in Astana, Kazakhstan’s capital. In a statement ahead of his meeting with Kassym-Jomart Tokayev, Kazakhstan’s president, Mr Xi emphasised the need for the two countries to strengthen their co-operation in energy investment and mining. It hints at an area where the “no-limits" friendship between Russia and China is being tested, as they both woo Kazakhstan.

The war in Ukraine exposed Europe’s dependency on Russian oil and gas. This has given a boost to nuclear advocates and increased the demand for uranium, the mineral used for nuclear fuel. Global uranium production is projected to reach over 75,000 tonnes […]

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