Uranium Prices
Updated every 15 minutes during market hours
U3O8 Spot Price History
$/lb
Data: Numerco / UxC historical · TradingView Lightweight Charts
U3O8 Forward Curve ($/lb)
Monthly forward prices · Teal = above spot · Gray = below spot
Data: Numerco · TradingView Lightweight Charts
U3O8 Spot — RedStone oracle sourced from Tezos uranium price API; reflects OTC physical market pricing.
URANIUM-USD Perp — QFEX 24/7 perpetual futures; crypto-native liquidity, continuous settlement.
Nuclear Fuel Price Snapshot
Spot updated 22 minutes ago · Fuel cycle as of 2025-01-01 (indicative)
| Commodity | Price | Change | % Change |
|---|---|---|---|
| U3O8 Spot/lb | $84.70 | +0.00 | +0.00% |
| Long-Term Contract/lb | $80.00 | — | — |
| UF6 (all-in)/kgU | $162.00 | — | — |
| Conversion Service/kgU | $10.00 | — | — |
| SWU Enrichment/SWU | $118.00 | — | — |
U3O8 spot via RedStone oracle · Long-term, UF6, conversion and SWU prices: UxC indicative (indicative weekly benchmarks)
Supply Intelligence
Uranium Supply Intelligence
Major producers · production in tonnes uranium (tU) · illustrative estimates
65,000
Est. world tU/yr
| Company | Q Output | YTD | Guidance | Mkt Share | Q |
|---|---|---|---|---|---|
🇰🇿 Kazatomprom(KAP) Multiple JV mines | 5,400tU | 16,200tU | 21,000tU/yr | 32.3% | 2024 Q3 |
🇨🇦 Cameco(CCJ) Cigar Lake / McArthur River | 2,150tU | 6,450tU | 8,500tU/yr | 13.1% | 2024 Q3 |
🇰🇿 ARMZ / Uranium One Khiagda / JV mines | 875tU | 2,625tU | 3,500tU/yr | 5.4% | 2024 Q3 |
🇰🇿 Orano Cigar Lake (40%) / McClean Lake | 700tU | 2,100tU | 2,800tU/yr | 4.3% | 2024 Q3 |
🇳🇦 Paladin Energy(PDN) Langer Heinrich | 560tU | 1,680tU | 2,200tU/yr | 3.4% | 2024 Q3 |
🇺🇸 Uranium Energy Corp(UEC) Christensen Ranch / Palangana | 180tU | 540tU | 700tU/yr | 1.1% | 2024 Q3 |
Production in tonnes uranium (tU) · 1 tU ≈ 2,600 lbs U3O8 · Indicative estimates based on public guidance. Live data via quarterly Grok enrichment.
Producer Cost Curve
All-in sustaining cost (AISC) per lb U3O8 · 2024–2025 estimates
AI Profitability Analysis
At the $86/lb U3O8 spot price, uranium producers like Kazatomprom ($10.5/lb cost), Denison Mines ($3.9/lb), and NexGen Energy ($8.2/lb) enjoy the widest margin spreads—e.g., Denison's margin exceeds $82/lb—making them highly profitable and positioning them to benefit most from price increases, as even small rises would significantly boost their already substantial profits compared to higher-cost operators like Paladin Energy ($22.4/lb) or Energy Fuels ($27/lb). Producers with lower costs, such as Kazatomprom and Denison, stand to gain the most from upward price movements due to their outsized margins, potentially incentivizing them to ramp up production and increase supply, which could help stabilize the market but might also pressure prices if overproduction occurs. Overall, this dynamic favors low-cost leaders in driving supply growth, while marginal producers may struggle to remain viable without sustained high prices,
Generated by Grok · Not investment advice
Mine-Level Supply Intelligence
Individual mine production, cost, and status — the real driver of uranium spot price
Global Uranium Supply vs. Demand
Primary mine supply by country vs. utility demand · Mlb U3O8/yr · Illustrative estimates
~30–40 Mlb
Supply deficit/yr
Supply gap thesis: Global primary mine supply (~140-155 Mlb/yr) falls short of utility requirements (~176-180 Mlb/yr). The ~30-40 Mlb deficit is covered by secondary supply (enrichment tails, recycled material, inventories) which is finite and declining. New mines take 10-15 years to develop — pricing must rise to incentivize them.
Supply stacked by country (Mlb U3O8/yr) · Demand = global utility requirements including secondary supply · Projections 2025-2030 are illustrative · Data: Company reports, WNA, UxC estimates
Global Uranium Mine Map
Illustrative mine locations · Circle size = annual capacity · Color = status
25 mines · Data: Company reports, WNA, UxC estimates · Illustrative seed data
Major Producing Mines
Mine-level uranium supply · Illustrative estimates
Data: Company reports, WNA, UxC
| Method | Status | |||||||
|---|---|---|---|---|---|---|---|---|
Arrow / Rook I NexGen Energy | 🇨🇦 Canada Saskatchewan | Underground | 3.1% | — | 29.0 | — | Dev | ▼ |
Cigar Lake Cameco | 🇨🇦 Canada Saskatchewan | Underground | 14.5% | 18.7 | 18.0 | $20 | Operating | ▼ |
McArthur River / Key Lake Cameco | 🇨🇦 Canada Saskatchewan | Underground | 17.0% | 18.0 | 18.0 | $19 | Operating | ▼ |
Husab Swakop Uranium (CGNPC) | 🇳🇦 Namibia Erongo | Open Pit | 0.045% | 14.2 | 15.0 | $28 | Operating | ▼ |
Imouraren Orano | 🇳🇪 Niger Agadez | Open Pit | 0.130% | — | 13.0 | — | Dev | ▼ |
Inkai Kazatomprom / Cameco | 🇰🇿 Kazakhstan South Kazakhstan | ISR/ISL | 0.042% | 9.5 | 10.4 | $15 | Operating | ▼ |
Rössing China National Nuclear Corp (C… | 🇳🇦 Namibia Erongo | Open Pit | 0.030% | 8.5 | 9.5 | $35 | Operating | ▼ |
Olympic Dam BHP | 🇦🇺 Australia South Australia | Underground | 0.025% | 7.8 | 8.5 | — | Operating | ▼ |
Navoi (NMMC) Navoi Mining & Metallurgy Comb… | 🇺🇿 Uzbekistan Navoi Region | ISR/ISL | 0.036% | 7.8 | 8.5 | — | Operating | ▼ |
Budenovskoye Kazatomprom | 🇰🇿 Kazakhstan Turkestan Region | ISR/ISL | 0.055% | 7.2 | 8.0 | $14 | Operating | ▼ |
Central Mynkuduk Kazatomprom / CGNPC | 🇰🇿 Kazakhstan Turkestan Region | ISR/ISL | 0.038% | 5.5 | 6.5 | $16 | Operating | ▼ |
Priargunsky (PGKHK) ARMZ / Rosatom | 🇷🇺 Russia Zabaykalsky Krai | Underground | 0.180% | 5.2 | 6.0 | — | Operating | ▼ |
Tortkuduk Kazatomprom / Orano | 🇰🇿 Kazakhstan Kyzylorda | ISR/ISL | 0.041% | 4.8 | 5.5 | $16 | Operating | ▼ |
Langer Heinrich Paladin Energy | 🇳🇦 Namibia Erongo | Open Pit | 0.047% | 3.5 | 5.2 | $39 | Operating | ▼ |
Arlit / Akouta (Somair) Orano | 🇳🇪 Niger Agadez | Open Pit | 0.300% | 0.0 | 5.0 | — | C&M | ▼ |
South Inkai Uranium One / Kazatomprom | 🇰🇿 Kazakhstan Kyzylorda | ISR/ISL | 0.040% | 4.2 | 4.5 | $16 | Operating | ▼ |
Akdala Uranium One | 🇰🇿 Kazakhstan Kyzylorda | ISR/ISL | 0.035% | 3.2 | 3.5 | $17 | Operating | ▼ |
Four Mile Quasar Resources / General Ato… | 🇦🇺 Australia South Australia | ISR/ISL | 0.440% | 0.0 | 3.5 | — | C&M | ▼ |
Kayelekera Paladin Energy | 🇲🇼 Malawi Karonga | Open Pit | 0.110% | 0.0 | 3.3 | — | C&M | ▼ |
Honeymoon Boss Energy | 🇦🇺 Australia South Australia | ISR/ISL | 0.180% | 0.9 | 2.5 | $45 | Operating | ▼ |
Smith Ranch-Highland Uranium One | 🇺🇸 USA Wyoming | ISR/ISL | 0.080% | 0.6 | 2.0 | — | Operating | ▼ |
Lost Creek Ur-Energy | 🇺🇸 USA Wyoming | ISR/ISL | 0.070% | 0.3 | 1.2 | $56 | Operating | ▼ |
Nichols Ranch Uranium Energy Corp | 🇺🇸 USA Wyoming | ISR/ISL | 0.090% | 0.4 | 1.0 | — | Operating | ▼ |
Pinon Plain Energy Fuels | 🇺🇸 USA Arizona | Underground | 0.650% | 0.4 | 1.0 | — | Operating | ▼ |
Palangana Uranium Energy Corp | 🇺🇸 USA Texas | ISR/ISL | 0.120% | 0.3 | 0.5 | — | Operating | ▼ |
Production in Mlb U3O8/yr (million pounds U3O8 per year) · 1 tU ≈ 2.6 Mlb · Click any row to expand · AISC = All-In Sustaining Cost · Data: Company reports, WNA, UxC estimates
Supply Risk Monitor
Geopolitical risk scores for key uranium-producing regions
Niger's 2023 coup severely disrupted French uranium interests. Orano operations face ongoing uncertainty under the military government, though a new equilibrium appears to be forming at elevated risk levels.
Russian uranium and enrichment services face escalating Western sanctions. The 2024 US ban on Russian uranium imports forces supply chain restructuring for US utilities, creating significant near-term disruption risk.
Kazakhstan remains the dominant uranium supplier but faces growing export route risks via the Middle Corridor. Kazatomprom production shortfalls and Russian transit dependency elevate near-term supply risk.
Uzbekistan is an emerging diversification option for Western utilities. NMMC output is growing, and the government is actively seeking Western partnerships, though Russian geopolitical proximity remains a watch factor.
Namibia represents low-risk, high-reliability uranium supply. Rössing and Husab continue to ramp production under stable political conditions. Growing preference for Namibian supply among Western utilities seeking Kazakhstan/Russia alternatives.
Australia hosts the world's largest uranium reserves with a highly stable political and regulatory environment. AUKUS partnership further aligns Australian supply with Western utility demand.
Canada is the premier low-risk uranium supplier. Cameco's Athabasca Basin assets deliver reliable, high-grade uranium to Western utilities. Canadian production is actively expanding to fill gaps from Russian/Kazakh uncertainty.