Uranium is an important commodity in the energy sector, and its rising value is attracting investor interest. In this article, we will review the main companies that manufacture and explore this nuclear fuel
.
Table of Contents:
1. BHP (NYSE:BHP, ASX:BHP, LSE:BHP)
Company Profile
BHP owns the Olympic Dam mine in Australia, one of the largest uranium deposits in the world. Although copper is the primary resource mined at Olympic Dam, the deposit is also home to uranium, gold, and silver.
In 2023, uranium production from Olympic Dam was 3.4 million metric tons (MT) of uranium oxide concentrate, an increase of 1.03 million MT compared to
the previous year.
2. Cameco (NYSE:CCJ, TSX:CCO
)
Company Profile
Cameco’s major operations include a 54.55% stake in the Cigar Lake mine, considered to be the most prolifically prolific uranium mine in the world. The company also has a 70% interest in the McArthur River mine and an 83% interest in the Key Lake mill, both located in the Athabasca Basin in Saskatchewan,
Canada.
3. NexGen Energy (NYSE:NXE, TSX:NXE, ASX:NXG
)
Company Profile
NexGen Energy is focused on projects in the Athabasca basin. His main project is Rook I, which houses several discoveries, including Arrow and South Arrow. Recently, the Saskatchewan government gave the go-ahead for NexGen’s 2023 infrastructure program and site confirmation at Rook
I.
4. Uranium Energy (NYSEAMERICAN:UEC
)
Company Profile
Uranium Energy has two fully authorized and operational on-site recovery platforms (ISR) in South Texas and Wyoming, as well as a pipeline of seven ISR uranium projects with all major permits in hand.
5. Paladin Energy (ASX:PDN
)
Company Profile
Paladin Energy is the fifth largest uranium company by market capitalization, and it is also the largest publicly traded uranium producer on ASX. The company owns 75% of Langer Heinrich in Namibia and holds an exploration portfolio that includes projects in both Canada
and Australia.
Frequently Asked Questions about Investing in Uranium
What is uranium?
Discovered in 1789, uranium is a heavy metal found in the Earth’s crust, and has been an important source of global energy for more than six decades.
Which country has the most uranium?
Australia and Kazakhstan lead the world both in reserves and in uranium production. Australia has the largest uranium reserves in the world, accounting for 28% globally. However, the oceanic country is ranked fourth in the world in uranium production
.
