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The Best Oil Opportunity Of The Year

The Best Oil Opportunity Of The Year

A huge discovery has just…

This Country Produces 39% Of The World’s Uranium

Uranium

Uranium is in high demand, as it is used as fuel in nuclear power plants around the world. 

Statista's Dyfed Loesche notes that according to the German Institute for Geosciences and Natural Resources BGR, Kazakhstan is the biggest producer of the radioactive metal. The central Asian country produced around 24,600 metric tons of the substance in 2016. This is a share of close to 40 percent of the worldwide production.

(Click to enlarge)

You will find more statistics at Statista

Australia comes in at third place with 6,300 metric tons. However, in terms of total resources, Australia has the most. Approximately 1.1 million tons are slumbering in its earths, not all of which can currently be excavated at reasonable costs.

Around the world there are known resources of some 3.5 million tons, so there is no foreseeable shortage.

The United States is still the biggest consumer of uranium, consuming 18,200 metric tons in 2016 compared to 5,300 tons in China.

However, China's need for uranium is likely to increase in the future, as of the 61 reactors that are being built in 15 countries worldwide, 21 are located in the People's Republic. In Namibia, in southeast Africa, the Chinese run Husab pit began production in 2016, and could potentially become the world's single biggest uranium production facilities.

By Zerohedge

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  • David on December 19 2017 said:
    This same Kazakhstan is also the the country that caused overglut of uranium this past 6 years. They not only hurt the oversupply issue but hurt there own business with these prices going to iPo this summer. They only cut 20 percent which will not touch the oversupply. They should have cut 50 percent. They have sold there precious resources for dirt cheap .

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