The global production of uranium should increase by 3.1 percent to reach 51.2 metric kilotons this year, due to the return of production at Canada's Cigar Lake and other mines where work was suspended in 2020, according to GlobalData, a U.K.-based data analytics firm.

What is the future of uranium?

Going Nuclear: The Future of Uranium

With more than 54 reactors under construction and 100 reactors planned worldwide, the demand for uranium is set to grow. Unlocking new and existing supplies is critical to meeting this rising demand, and new uranium discoveries will be increasingly valuable in balancing the market.

Is there a high demand for uranium?

Uranium: Global Demand Growing, Shortages Possible. ... Only freshly-mined uranium may satisfy the growing demand. The current annual global consumption is 190 million pounds, while annual global mine production is 140 million pounds, resulting in a 50-million pound deficit.