Uranium Market Update
Global supply cuts
92
U
YELLOW CAKE PLC
Production curtailments have removed an estimated 77.6mlb. U3Og from the market since
2014(1)
North America
■ Cameco has removed ~30mlb. from the
market
Kazakhstan (CIS)
■
Kazatomprom since 2018, has limited its
uranium production to 80% of its
nameplate capacity
Supply curtailment is expected to
continue through 2023
Sub Saharan Africa
■ Paladin idled both of its operations
■ Orano lowered the output of both of its
mines in 2016
Source:
1) MineSpans (September 2021)
U30% (mlb.)
Idled uranium mine capacity (cumulative)
Metal contained, mlb. U3O8
North America
CIS
(10)
(3)
(5)
(6)
(30)
(50)
501
Oceania
(22)
(28)
Sub-Saharan Africa
China
(59)
(59)
(70)
(65)
(78)
(90)
2014
2015
2016
2017 2018
2019 2020
2021e 2022e
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