Market research

Uranium ores and concentrates market in Canada

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

In 2018, Canada held major uranium reserves in the Athabasca Basin and was the world's second-largest producer, with market volume reaching 7 320 t. By 2020, production fell sharply to 3 613 t due to market and operational challenges, reflecting a temporary industry downturn.

Recovery began in 2021, with output rising to 4 768 t, and market volume reached 7 350 t in 2022. This rebound coincided with a 90% surge in uranium exploration spending to $238 million, signaling renewed market interest and investment in the sector.

By 2024, Canadian uranium production rebounded to 14 327 t. Energy Fuels ramped up output at three U.S. mines, while Cameco extended the life of its Cigar Lake mine to 2036. Rising spot uranium prices and increased focus on critical minerals supported this growth.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2022
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2022
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Canada
  1. 5.1.1. Annual dynamics of production in Canada in kind, 2018-2022, t
  2. 5.1.2. Annual dynamics of production in Canada in value, 2018-2022, $ US
2. 5.2. Global production by Country, 2018-2022
  1. 5.2.1. Annual dynamics of production by country in kind, 2018-2022, t
  2. 5.2.2. Structure of production by countries in kind, 2018-2022
  3. 5.2.3. Dynamics of peoduction structure by countries in kind, 2018-2022
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Canada in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Canada by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Canada in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Canada by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Canada, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's imports to Canada by countries, 2018-2024, $ US/kg
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Canada in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Canada by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Canada in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Canada by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Canada, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's imports to Canada by countries, 2018-2024, $ US/kg
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Canada in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Canada by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Canada in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Canada by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Canada, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's exports from Canada by countries, 2018-2024, $ US/kg
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Canada in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Canada by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Canada in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Canada by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Canada, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's exports from Canada by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production uranium ores and concentrates in Canada

In kind, 2017-2020, t

From 2017 to 2020, Canada maintained the second-highest global position in terms of uranium ore and concentrate production volume.

Top producers of uranium ores and concentrates, 2017-2020

Source: SHEV.io

World map of production of uranium ores and concentrates, 2017-2020

Source: SHEV.io

Uranium ore and concentrate production in Canada declined for the third consecutive year. In 2020, Canada produced 3 613 tonnes, which represents a 48.2% decrease compared to 2019. Over the 2017-2020 period, production fell by 70.9%, with a compound annual growth rate of -33.8%.

Annual dynamics of production in Canada in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(41.1%)	(4.7%)	(48.2%)	(33.8%)

Source: SHEV.io

Exports uranium ores and concentrates from Canada

Exports in kind, kg

In 2019, Canada exported 10.0 kilograms of uranium ores and concentrates, marking a 150.0% increase from the previous year.

Annual dynamics of product's exports from Canada in kind, 2017-2020, kg

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	150.0%	n/a	-

Source: SHEV.io

Between 2017 and 2020, Germany and the United States together accounted for 100.0% of Canada's total uranium ore and concentrate exports in kind, reflecting a highly concentrated market.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Canada in kind, 2017-2020

Source: SHEV.io

Exports in value, $ US

In 2019, Canada's foreign supplies of uranium ores and concentrates in monetary terms amounted to 151 US dollars, showing a 92.7% decline from 2018.

Annual dynamics of product's exports from Canada in value, 2017-2020, $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	(92.7%)	n/a	-

Source: SHEV.io

From 2017 to 2020, nearly all of Canada's uranium ore and concentrate exports in value terms were linked to the United States, which captured 93.2% of total flows.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Canada in value, 2017-2020

Source: SHEV.io

Imports uranium ores and concentrates to Canada

Imports in kind, kg

The data shows irregular changes, indicating a volatile market environment. Imports reached their lowest point in 2020 at 12.0 kilograms, after peaking in 2017, with a 23-fold difference between these years. In 2020, foreign supplies to Canada declined by 95.6% compared to the previous year. The largest increase occurred in 2019, at 335.1%.

Annual dynamics of product's imports to Canada in kind, 2017-2020, kg

Parameter		2018	2019	2020	CAGR
1	Change from last year	(77.0%)	335.1%	(95.6%)	(64.6%)

Source: SHEV.io

During 2017-2020, three key markets—Austria, the United States, and Niger—collectively absorbed 20.0% of Canada's total uranium ore and concentrate imports in kind.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Canada in kind, 2017-2020

Source: SHEV.io

Imports in value, $ US

The market displayed an unstable trend throughout the period. Imports peaked in 2017 and fell to their lowest point in 2020, with a 24-fold variation. In 2020, Canada's uranium ore and concentrate imports totaled 171 US dollars, representing a sharp decrease of 95.8% from 2019. The largest increase was recorded in 2019, at 325.3%.

Annual dynamics of product's imports to Canada in value, 2017-2020, $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(76.8%)	325.3%	(95.8%)	(65.4%)

Source: SHEV.io

From 2017 to 2020, Austria (10.9% of imports in value terms), the United States (8.0% of imports in value terms), and Niger (1.2% of imports in value terms) played leading roles in Canada's uranium ore and concentrate imports in monetary terms, together accounting for 20.0% of total flows.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Canada in value, 2017-2020

Source: SHEV.io