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A dramatic supply-demand imbalance is expected across the uranium industry. In recent years, the supply deficit has been around 30 million pounds of uranium per year. According to the International Atomic Energy Agency (IAEA), global consumption stands at approximately 195 million pounds of U₃O₈ (88,450 tonnes), while worldwide uranium mining covers only 109 million pounds (49,355 tonnes).
The IAEA estimates annual uranium demand will rise to 238 million pounds U₃O₈ (108,000 tonnes) by 2030, further deepening the supply deficit.
In 2023, nuclear energy prevented 2.1 billion tons of CO₂ emissions, exceeding the annual emissions of nearly every country except China, the U.S., and India.
Global nuclear power generation increased from 2,544 TWh in 2023 to 2,602 TWh year-over-year, now accounting for approximately 9% of global electricity production.
At COP28 and COP29, 31 countries committed to tripling global nuclear capacity by 2050. However, the uranium supply is currently insufficient to meet this target, creating a historic investment opportunity in uranium stocks for smart, risk-tolerant investors.
The uranium market is experiencing a notable shift driven by increasing demand and supply constraints. In 2023, U.S. civilian nuclear power reactor operators purchased 51.6 million pounds of uranium concentrate, marking a 27% increase from the previous year. This uptick reflects a broader global trend as nations expand nuclear power capacities to meet energy needs and environmental goals
7.20% Uranium Annual Projected Demand Growth
$400–600B Global SMR Market Size by 2040
Only 440 Reactors
Currently Operating Worldwide
2.1B tons CO₂ Emissions Avoided by Nuclear in 2023
Uranium is a critical element in the global energy landscape, primarily due to its role in nuclear power generation. As the world intensifies efforts to reduce carbon emissions and achieve net-zero targets, the demand for reliable, low-carbon energy sources like nuclear power is increasing. This surge in demand underscores the importance of uranium in the current and future energy mix.
Saskatchewan, particularly the Athabasca Basin, is home to some of the world’s highest-grade uranium deposits, making it a premier location for exploration and mining. The region’s unique geological formations create ideal conditions for uranium accumulation, with the basin’s deposits known for their high concentrations, enabling efficient and cost-effective extraction. Additionally, Saskatchewan’s supportive regulatory environment and commitment to sustainable, community-focused mining practices enhance its attractiveness for URZ3 Energy’s operations.
The rising demand for uranium is driving a resurgence in the industry, benefiting companies like URZ3 Energy. Higher prices are accelerating exploration and production, allowing us to expand operations and advance the development of deeper, high-grade uranium deposits.
A key factor in this growth is the increasing global adoption of Small Modular Reactors (SMRs), which are reshaping the nuclear energy landscape. SMRs offer a scalable and cost-effective alternative to traditional reactors, fueling long-term demand for uranium.
Unconformity-related deposits are among the most significant uranium deposits globally, particularly in the Athabasca Basin, where one of URZ3 Energy’s projects is. These high-grade deposits form at the boundary between sedimentary rocks and older basement rocks, often near graphitic fault zones and major structural features. With uranium concentrations frequently exceeding 10% U₃O₈, these deposits are among the richest sources of uranium, making them highly valuable.
URZ3 Energy has built on years of industry experience to develop and refine its exploration techniques. We employ advanced methods such as airborne geophysics, high-resolution gravity surveys, and geochemical sampling to maximize discovery potential. Our geophysical surveys utilize magnetic, electromagnetic, gravity, and geochemical methods to detect prospective zones, enhancing the precision and efficiency of our exploration activities.
In-Situ Recovery (ISR) is an environmentally friendly uranium extraction method that could play a key role in URZ3 Energy’s future development strategy. This technique involves injecting a leaching solution into the ore body through wells, dissolving the uranium, which is then pumped to the surface via extraction wells. The uranium-rich solution is processed to produce yellowcake (U₃O₈).
ISR offers significant advantages over traditional mining, including minimal surface disturbance, reduced waste generation, and a lower environmental footprint. It is particularly effective for deposits in permeable rock formations, allowing for efficient leaching and recovery. As URZ3 Energy advances its exploration efforts, ISR remains a potential extraction method that could enhance the sustainability and cost-efficiency of future uranium production.
Yellowcake is a concentrated form of uranium oxide (U₃O₈) produced from uranium ore. It is obtained by extracting uranium from the leach solution using chemical agents like ammonia or hydrogen peroxide. The uranium is then precipitated, filtered, dried, and heated (calcined) to remove moisture, forming a stable, solid powder.
Once processed, yellowcake is packaged in drums and transported to uranium conversion facilities, where it undergoes further refinement to produce fuel for nuclear reactors.
Uranium mining plays a critical role in the global energy transition, providing the raw material needed for nuclear power while contributing to economic growth. The industry creates high-paying jobs, supports local businesses and drives infrastructure development in mining regions. In addition, uranium production strengthens energy security by ensuring a stable supply of fuel for nuclear reactors, reducing dependence on fossil fuels.
From an environmental perspective, modern uranium mining is subject to strict regulations designed to minimize its impact. Advances in mining techniques, such as in-situ recovery (ISR), help reduce surface disturbance, while improved water management and tailings containment systems mitigate potential risks. Once mining is complete, reclamation efforts are undertaken to restore the natural environment and ensure long-term sustainability.
As the demand for nuclear energy increases, uranium mining continues to provide significant economic benefits while evolving toward more responsible and environmentally conscious practices.
