Top Five Uranium-Producing Countries Set to Benefit from Rising Demand

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Researched by Industrial Info Resources Australia (Perth, Australia)--Japan recently restarted the nuclear reactor at the Sendai power plant, prompting some analysts to predict a positive outlook for the uranium market. Global demand and supply for the material have been slow to recover since the 2011 disaster at the Fukushima reactor, but the revival of nuclear power across Japan hints at a price recovery. The Sendai reactor could be the first of 25 plants to restart operations, which would mean that Japan would again be a leading producer of nuclear energy.

Today, the U.S. is the world's top country for nuclear power generation, with almost double that of the second-biggest nuclear-generating country, France. Similarly, nuclear power in France is almost twice the nuclear-generating capacity of Russia, which in turn is followed closely by South Korea and China.

The top five uranium-producing countries are:

5. Namibia
Namibia narrowly edges out Russia to take the fifth spot in uranium production. The country produces an estimated 3,255 tonnes of uranium material from three mines, with at least two separate mines said to be capable of producing 10% of the world's output. The Namibian government strongly supports further growth in the uranium industry, and has attracted significant capital investment from China.

4. Niger
Although Niger has seen a significant decrease in its production figures since 2013, the country still produces more than 4,000 tonnes of uranium from its Arlit, Akouta and Teguidda Azelik plants. The country has been referred to as "Africa's rising uranium hotspot," surpassing Namibia as the continent's largest uranium producer. As with Namibia, China has invested significantly in the development of uranium production in Niger, as evidenced by its 37% stake in the Azelik mine complex under a joint venture partnership, the Niger Azelik Mining Industry.

3. Australia
Although Australia has the world's largest proven uranium reserves, mining bans and restrictions limit the industry from fully realizing its production potential there. In 2012 and 2013, the country produced 6,300 and 6,900 tonnes, respectively, but production has since dropped to 5,000 tonnes, according to the World Nuclear Association. Judging from Australia's long and controversial history of uranium mining, it is likely the country will drop in rankings by this time next year, unless significant policy changes occur and the national perception of the industry changes.

2. Canada
Recent figures show that Canada's total uranium production capacity is more than 9,100 tonnes for the year, but until 2014, only two uranium-producing mines were operational. The country was the largest uranium producer until 2009, when it was overtaken by Kazakhstan. Industrial Info is tracking at least five new Canadian uranium mines in planning or under construction, which would suggest the country's uranium production capacity is expected to rise significantly in the near future. This is in addition to Cameco Corporation's (NYSE:CCJ) (Saskatoon, Saskatchewan) massive Cigar Lake uranium mine, which became operational in 2014, providing an additional 18 million pounds per year of uranium trioxide to the market.

1. Kazakhstan
Kazakhstan has been the indisputable heavyweight champion in uranium production since 2009, when it surpassed Canada to produce almost 28% of the global total. The latest production figures show that Kazakhstan produced more than 23,000 tonnes of uranium in 2014. Further increases in production capacity are expected, as more mines are in planning for completion by 2018, so there is no doubt that Kazakhstan will remain the world's top uranium-producing nation for the foreseeable future. The country's uranium industry, including exploration and mining, is controlled by state-owned Kazatomprom (Almaty, Kazakhstan). The company has formed major strategic alliances with Russia, Japan and China to help meet the demand of these top nuclear power generators.

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