Market research

Uranium ores and concentrates market in Northern America

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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"Northern America" region includes following countries:

Bermuda

Canada

Greenland

Saint Pierre and Miquelon

the United States

Earlier Report Observations

Northern American production of uranium ores and concentrates declined from 7,902 t in 2018 to a low of 3,619 t in 2020, before recovering strongly to 7,443 t in 2022. This rebound was primarily driven by the restart of Cameco's McArthur River mine and Key Lake mill in Saskatchewan after a four-year idling period, which significantly boosted domestic supply. Concurrently, a rally in uranium spot prices fueled by geopolitical tensions and supply disruptions, alongside utility companies securing new long-term contracts amid renewed global interest in nuclear energy, created a favorable environment for expanded production.

The market dynamics continued to evolve post-2022. In 2023, while reported U.S. production decreased, exploration drilling activity intensified sharply, indicating investment in future capacity. Purchases of uranium concentrate by U.S. nuclear power reactors rose substantially, with prices continuing an upward trend. By early 2024, uranium spot prices surged, and U.S. production in the first quarter alone surpassed the total output of 2023, marking a significant production rebound. This activity was supported by technological advancements in mining, such as improved in-situ recovery methods, and broader regulatory shifts emphasizing energy security and domestic supply chains.

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 Northern America
  1. 5.1.1. Annual dynamics of production in Northern America in kind, 2018-2022, t
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 Bermuda in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Bermuda 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 Bermuda in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Bermuda 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 Bermuda, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's imports to Bermuda 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 Bermuda in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Bermuda 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 Bermuda in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Bermuda 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 Bermuda, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's imports to Bermuda 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 Bermuda in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Bermuda 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 Bermuda in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Bermuda 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 Bermuda, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's exports from Bermuda 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 Bermuda in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Bermuda 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 Bermuda in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Bermuda 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 Bermuda, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's exports from Bermuda 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 Northern America

In kind, 2017-2020, t

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

Northern America's production of uranium ores and concentrates has declined for the third year in a row. In 2020, the region produced 3 619 tonnes, marking a 48.6% decrease from the previous year. Looking at the period from 2017 to 2020, production fell by 72.9%, which translates to an average annual decline of 35.3%.

Annual dynamics of production in Northern America in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(40.9%)	(10.9%)	(48.6%)	(35.3%)

Source: SHEV.io

Exports uranium ores and concentrates from Northern America

Exports in kind, kg

In 2019, Northern America exported 10.0 kg of uranium ores and concentrates, representing an 88.8% drop compared to 2018.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	(88.8%)	n/a	-

Source: SHEV.io

From 2017 to 2020, Germany was the dominant destination for exports in kind, accounting for 71.4% of the total volume.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, $ US

Northern America's exports of uranium ores and concentrates in 2019 amounted to 151 US dollars, a 92.7% decrease from 2018.

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

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

Source: SHEV.io

Between 2017 and 2020, Germany led as the top buyer of uranium ores and concentrates from Northern America, with a 6.8% share of total export value.

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

Source: SHEV.io

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

Source: SHEV.io

Imports uranium ores and concentrates to Northern America

Imports in kind, kg

The data shows irregular fluctuations, pointing to a volatile market. Imports hit their lowest point in 2020 and peaked in 2017, with a 91-fold difference between these years. In 2020, Northern America imported 3.0 kg of uranium ores and concentrates, down 98.7% year-on-year. The largest increase occurred in 2019, at 274.2%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(77.0%)	274.2%	(98.7%)	(77.8%)

Source: SHEV.io

From 2017 to 2020, Austria (10.7% of imports in kind), Niger (1.1%), and the United Kingdom (0.7%) were the leading sources, together making up 12.5% of total import volume.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, $ US

The market displayed an unstable trend over this period. Imports reached their lowest level in 2020 and peaked in 2017, with a 24-fold difference. In 2020, Northern America's imports of uranium ores and concentrates totaled 171 US dollars, a 95.8% decline from 2019. The biggest increase was in 2019, at 325.3%.

Annual dynamics of product's imports to Northern America 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

Between 2017 and 2020, Austria (10.9% of imports in value), Niger (1.2%), and the United Kingdom (0.7%) were the primary sources in the geographical breakdown of import value for uranium ores and concentrates to Northern America, collectively accounting for 12.7% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io