Uranium, a silvery-white metal known for its radioactivity and distinctive nuclear attributes, plays a crucial role both in military applications—notably as a high-density penetrator—and in civilian energy production as a nuclear reactor fuel.

In 2024, global uranium exports reached a total value of approximately US$19.6 billion, marking a substantial 250.8% increase compared to $5.6 billion in 2020.

On a year-over-year basis, uranium export revenues jumped by 47.3%, up from $13.3 billion in 2023.

Main Categories of Exported Uranium

There are three primary forms of uranium traded internationally, each classified under the 6-digit Harmonized Tariff System (HTS) codes:

·Natural Uranium and Compounds: HTS code 284410

·Enriched Uranium: HTS code 284420

·Depleted Uranium: HTS code 284430

Natural Uranium

Shipments of natural uranium amounted to $9.3 billion in 2024, representing a 202% rise from 2020 levels. From 2023 to 2024, the export value of natural uranium soared by 63.3%.

Enriched Uranium

Enriched uranium exports climbed to $10.2 billion, reflecting a 315.2% surge over 2020 and a 35.5% year-on-year growth.

Depleted Uranium

Exports of the smallest category, depleted uranium, brought in $91.5 million, which is up 91.5% from 2020 and 21.3% higher than in 2023.

Top Exporters of Natural Uranium (2024)

The following 15 countries led the world in natural uranium export value:

1.Kazakhstan: $4.5 billion (48.8%)

2.Canada: $3.3 billion (35.6%)

3.United States: $963.2 million (10.4%)

4.Niger: $239.5 million (2.6%)

5.Ukraine: $78.3 million (0.8%)

6.South Africa: $58.6 million (0.63%)

7.France: $58.3 million (0.63%)

8.Russia: $44.8 million (0.5%)

9.Germany: $4.4 million (0.05%)

10.Netherlands: $2.4 million (0.03%)

11.United Kingdom: $188,000 (0.002%)

12.Indonesia: $164,000 (0.002%)

13.Switzerland: $56,000 (0.0006%)

14.Israel: $44,000 (0.0005%)

15.Belgium: $5,000 (0.0001%)

Combined, these nations were responsible for an overwhelming 99.9999% of global natural uranium exports in 2024.

Fastest-Growing Exporters

The most significant year-over-year increases in 2024 came from:

·France: +9,842%

·Switzerland: +273%

·United States: +223.4%

·Ukraine: +189.6%

·Notable Decline

Russia was the only major exporter to experience a downturn, with a 28.9% decline in its natural uranium shipments compared to the previous year.

Leading Exporters of Enriched Uranium in 2024

In 2024, the global trade in enriched uranium was dominated by the following 15 countries, ranked by export value:

1.France led with $3.1 billion, accounting for 30.1% of total enriched uranium exports.

2.Russia followed at $2.8 billion (27.4%).

3.Netherlands contributed $2.4 billion (23.7%).

4.Germany shipped $1.3 billion (12.6%).

5.Mainland China exported $545 million (5.3%).

6.United States: $39 million (0.4%).

7.Spain: $22 million (0.2%).

8.Kazakhstan: $13.2 million (0.13%).

9.Sweden: $9.9 million (0.10%).

10.United Kingdom: $323,000 (0.003%).

11.Belgium: $38,000 (0.0004%).

12.Canada: $21,000 (0.0003%).

Together, these exporters represented 100% of global enriched uranium shipments in 2024.

Spain saw the most dramatic increase (up 20,040%), Followed by the UK (up 412.7%), Netherlands (up 95%), And France (up 66%).

Notably, exports fell in: United States (down -41%), Kazakhstan (down -34.8%), And Sweden (down -27.7%).

Top Depleted Uranium Exporters in 2024

Here are the 15 countries that shipped the highest values of depleted uranium during 2024:

1.South Africa led with $66.7 million (72.5%).

2.United States: $12.2 million (13.3%).

3.Sweden: $6.3 million (6.8%).

4.Portugal: $1.7 million (1.8%).

5.Australia: $1.5 million (1.6%).

6.Czech Republic: $883,000 (1%).

7.Canada: $598,000 (0.7%).

8.Spain: $408,000 (0.44%).

9.Netherlands: $330,000 (0.36%).

10.India: $280,000 (0.3%).

11.France: $220,000 (0.24%).

12.Estonia: $158,000 (0.17%).

13.Malaysia: $120,000 (0.13%).

14.Greece: $118,000 (0.13%).

15.Switzerland: $109,000 (0.12%).

Combined, these nations were responsible for 99.6% of all global depleted uranium exports by value in 2024.

Fastest-Growing Exporters

The biggest year-over-year increases were seen in:

·Portugal (up 41,725%)

·Canada (up 406.8%)

·Switzerland (up 186.8%)

·Australia (up 175.5%)

Declining Exporters

Countries experiencing declines included:

·Malaysia (down -72.7%)

·France (down -60.3%)

·Greece (down -51.4%)

·Sweden (down -38.9%)

·Spain (down -33.2%)

Key Global Uranium Exporters (2024)

Based on data from Tendata, these are the top 10 companies engaged in uranium exports worldwide:

1.АО НАК Казатомпром ПП ТОО Семизбай U – 46.93% share, $2.07 billion

2.Navoi Mining & Metallurgy Combinat – 16.34%, $720.5 million

3.АО МСЗ (MSZ JSC) – 11.42%, $503.6 million

4.Южная Горная Химическая Компания (South Mining Chemical Company) – 4.88%, $215 million

5.Swakop Uranium Pty Ltd – 4.52%, $199.4 million

6.Rossing Uranium Limited – 3.63%, $159.9 million

7.АО Казатомпром (Kazatomprom JSC) – 3.02%, $132.9 million

8.Каратау LLP – 3%, $132.1 million

9.СП Буденовское (Budennovskoye JV LLP) – 1.49%, $65.7 million

10.СП Акбастау (Akbastau JV JSC) – 1.2%, $53 million

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