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Uranium got discovered in the late 18th century by German chemist Martin Klaproth. While uranium is quite common in the earth’s crust as REE. While the exploration occurs oftentimes through in situ leaching (ISL) - recovering the minerals from it underground by dissolving them and pumping the pregnant solution to the surface - the refining poses certain technical and ecological challenges.
Uranium has gained importance starting mid-20th century as a result of the installation of numerous nuclear power reactor. In the more recent time, the commodity has gained investors’ attention given its rising value.
About two-thirds of the world's production of uranium from mines is from Kazakhstan, Canada, and Australia. Another important part is recovered in Africa, while none occurs in Europe. Historically, uranium was recovered underground or open-air mines, while today the ILS (in situ leaching) is the most common process method.
With the energy transition progressing fast, one can expect that the demand is set to increase too which is price supportive. More importantly, developed market country companies try to avoid mining in geopolitical critical regions which accelerates the stress on the supply chain side. In 2023, uranium prices have reached the important barrier of USD 50 per pound.
The world’s biggest uranium producers are: Public traded companies:
Privately held or Government Entities:
Knowledge is power.
