Uranium stocks in Canada

Canada is the world's second-largest uranium producer, and every tonne of it comes from northern Saskatchewan.

Saskatchewan mines produced 14.3 kilotonnes of uranium in 2024, 24% of the world total. The deposits there can be up to 100 times richer than the global average, which is why the Athabasca Basin draws so many explorers.

About 90% of Canadian production is exported. Canada supplied 33% of the uranium bought by U.S. nuclear reactors in 2024, more than any other foreign country. Canada's reserves are large enough to support production for at least 50 years.

Uranium demand is almost all nuclear power. Fuel for reactors accounts for more than 99% of global demand, Natural Resources Canada says. Most Canadian uranium is sold on long-term contracts, not the spot market. That softens price swings for producers. The spot price climbed from US$22 a pound in 2017 to US$72 in 2024.

The United States is the biggest single buyer. Canada was the top source of uranium delivered to US reactors in 2025, at 32% of deliveries, according to the US Energy Information Administration. Uranium was also one of ten minerals added to the final 2025 US critical minerals list.

New mines are on the way. In early 2026 the Canadian Nuclear Safety Commission approved two new mines: Denison's Wheeler River and NexGen's Rook I. They are the first Canadian uranium mines approved for construction since 2004, the Saskatchewan government says. Uranium explorers also qualify for the federal 30% Critical Mineral Exploration Tax Credit, confirmed in Budget 2025.

A uranium junior is a small company exploring for or developing a uranium deposit, usually with no mine revenue yet. These details are worth checking in its announcements.

• Location relative to the Athabasca Basin's known deposits and structures.
• Grades are reported as % U3O8. Explorers here are often chasing results above 1%.
• Depth. Very rich deposits can still be expensive to mine if they are deep.