Global uranium production to rebound in 2021

Photo: Energy Resources of Australia

The world’s uranium production is to increase by 3.1 percent this year, reaching 51,200 tonnes. The output hike is expected to be partly owed to the return of production at Canada’s Cigar Lake and other mines which halted production last year, according to a recent report by market research firm GlobalData.


In 2021, uranium production is to expand by a robust 15.5 percent in Ka-zakhstan and by 5.2 percent in Russia. In contrast, Australian uranium production is to decrease by 21.2 percent this year due to the shutting down of the Ranger mine owned by Energy Resources of Australia, as indicated by figures from the report.


“Global uranium production has been limited in recent years, mainly due to a sluggish market,” Vinneth Bajaj, an associate project manager at GlobalData, was quoted in a statement. “This was further impacted by the Covid-19 pandemic from early 2020.”