Global uranium output tipped for growth as spot prices tick up – report

Credit: Energy Fuels Inc GlobalData expects uranium output to grow at a compound annual growth rate of 6.2% between 2021 to 2025 to 62,200 tonnes. “Global uranium production has been limited in recent years, mainly due to a sluggish market,” says associate project manager Vinneth Bajaj in a news release. “The covid-19 pandemic further impacted this from early 2020,” the analyst says.

Global uranium production fell by 9.2% to 49,700 tonnes in 2020, the lowest level since 2008. The most significant declines were observed in Canada (43.9%) and Kazakhstan (14.6%) – globally, almost 60% of uranium originates from these two countries. In March 2020, Cameco’s Cigar Lake mine, in Canada’s Athabasca Basin of northern Saskatchewan, which accounts for 12% to 13% of global production, was suspended to contain the covid outbreak. The suspension stayed until September 2020 but was later halted again in mid-December because of the increasing risks. It […]

Click here to view original web page at www.mining.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.