Atomic properties
Market data
Raw material sources & pricing
| Raw Material Form | Grade/Quality | Price Range | Major Sources | Notes |
|---|---|---|---|---|
| High-Grade Ore (Canada) | 2-20% U₃O₈ | N/A (processed at mine) | Cigar Lake, McArthur River | World's highest grade deposits |
| ISL-Amenable Ore | 0.05-0.2% U₃O₈ | N/A (in-situ recovery) | Kazakhstan, USA, Australia | Low-cost extraction method |
| Conventional Ore | 0.1-1% U₃O₈ | N/A (processed at mill) | Australia, Niger, Namibia | Open pit and underground mining |
| Yellowcake (U₃O₈) | 70-90% U₃O₈ | $64-77/lb | All uranium mills | Intermediate product for conversion |
Uranium Ore - Primary Raw Material
Current Market Price: $64-77/lb U₃O₈ (spot price varies by market conditions) Major Global Reserves (Recoverable Resources to $130/kg U): Australia: 1.692 million MT (28% of world reserves) - Olympic Dam, Ranger deposits Kazakhstan: 815,200 MT (13% of world reserves) - ISL-amenable deposits Canada: 588,500 MT (10% of world reserves) - High-grade deposits Russia: 480,300 MT (8% of world reserves) 2022 Production Leaders (latest available data): Kazakhstan: 21,227 MT (43% of global production) Canada: 7,351 MT (15% of global production) Namibia: 5,613 MT (11% of global production) Australia: 4,087 MT (8% of global production) Raw Material Form Grade/Quality Price Range Major Sources Notes High-Grade Ore (Canada) 2-20% U₃O₈ N/A (processed at mine) Cigar Lake, McArthur River World's highest gr
⚠️ Seawater Uranium Extraction
Commercial Viability: NOT ECONOMICALLY VIABLE Concentration: 3.3 ppb (parts per billion) - extremely low Chemical Form: [UO₂(CO₃)₃]⁴⁻ uranyl carbonate complex Status: Despite 4.5 billion tonnes in oceans, extraction requires processing volumes equivalent to the North Sea annually for current global demand. Energy required exceeds energy producible from extracted uranium. Research Status: Laboratory demonstrations achieved ~9 mg/g adsorbent after 56 days in seawater, but industrial scale remains impractical.
Production cost analysis
| Cost Component | $/lb U₃O₈ | % of Total Cost | Notes |
|---|---|---|---|
| Mining & Milling | $20-40 | 35-45% | Varies by ore grade and method |
| Conversion (UF₆) | $6-10 | 10-15% | $15-25/kg U as UF₆ |
| Enrichment (SWU) | $30-50 | 35-45% | $60-92/SWU spot price |
| Fuel Fabrication | $10-15 | 10-15% | $200-300/kg U as fuel |
| Total Nuclear Fuel Cost | $66-115 | 100% | For 3-5% enriched reactor fuel |
Energy consumption breakdown
| Process Stage | Energy Consumption | Energy Type | Key Operations | Notes |
|---|---|---|---|---|
| Mining & Milling | 100-400 MJ/kg U | Diesel, Electricity | Extraction, crushing, leaching | ISL uses less energy than conventional |
| Conversion to UF₆ | 40-50 MJ/kg U | Natural Gas, Electricity | Purification, fluorination | Produces volatile UF₆ for enrichment |
| Enrichment (Centrifuge) | 50 kWh/SWU | Electricity | Isotope separation | 96% less energy than diffusion |
| Enrichment (Diffusion-legacy) | 2,500 kWh/SWU | Electricity | Isotope separation | Mostly phased out globally |
Modern Centrifuge Enrichment
Rotor Speed: 50,000-90,000 RPM Separation Factor: 1.2-1.5 per stage Cascade Size: 10-20 stages typical Energy Use: 50 kWh/SWU (180 MJ/SWU) Plant Example: 10M SWU/yr uses 109 MW
Legacy Gaseous Diffusion
Membrane Passes: ~1,400 stages Separation Factor: 1.0043 per stage Energy Use: 2,500 kWh/SWU (9,000 MJ/SWU) Plant Example: 10M SWU/yr uses 2,700 MW Status: Last major plant closed 2013
Commercial forms & specifications
| Product Form | Chemical Formula | Molecular Weight | Typical Purity | Price Range (USD) | Main Applications |
|---|---|---|---|---|---|
| Natural U₃O₈ (Yellowcake) | U₃O₈ | 842.08 g/mol | 70-90% U₃O₈ | $64-77/lb U₃O₈ | Conversion to UF₆ |
| Uranium Hexafluoride | UF₆ | 352.02 g/mol | 99.5%+ | $110-150/kg U | Enrichment feed |
| Enriched UF₆ (3-5%) | UF₆ | 352.02 g/mol | 3-5% ²³⁵U | $1,500-2,500/kg U | Reactor fuel production |
| Uranium Dioxide (pellets) | UO₂ | 270.03 g/mol | 95-98% | $2,000-3,000/kg U | Nuclear fuel pellets |
| Depleted Uranium Metal | U | 238.03 g/mol | 99.8% ²³⁸U | $5-10/kg | Shielding, counterweights |
| Depleted UF₆ (DUF₆) | UF₆ | 352.02 g/mol | 0.2-0.3% ²³⁵U | Storage liability | Conversion to U₃O₈ for disposal |
| Uranium Metal (Natural) | U | 238.03 g/mol | 99%+ | $100-200/kg | Research, special applications |
| Uranyl Nitrate | UO₂(NO₃)₂·6H₂O | 502.13 g/mol | 98-99% | $150-300/kg | Purification intermediate |
| Ammonium Diuranate (ADU) | (NH₄)₂U₂O₇ | 624.13 g/mol | 65-70% U | $80-120/lb U₃O₈ | Conversion to UO₂ |
| LEU (20% ²³⁵U) | Various forms | Variable | 19.75% ²³⁵U max | $15,000-25,000/kg U | Research reactors |
Suppliers by country
🇰🇿 Kazakhstan
| Company | Product Forms | Specialties |
|---|---|---|
| Kazatomprom | Natural U₃O₈, UF₆, fuel pellets | World's largest producer (43% global share), ISL mining, IAEA fuel bank host |
| Joint Ventures | Natural U₃O₈ | Partnerships with Cameco, Orano, Rosatom, CGN |
🇨🇦 Canada
| Company | Product Forms | Specialties |
|---|---|---|
| Cameco Corporation | U₃O₈, UF₆, UO₂, fuel bundles | High-grade ore (up to 20% U₃O₈), McArthur River, Cigar Lake mines |
| Orano Canada | U₃O₈ concentrate | McClean Lake mill, partnership in Cigar Lake |
🇫🇷 France
| Company | Product Forms | Specialties |
|---|---|---|
| Orano (formerly Areva) | U₃O₈, UF₆, enriched uranium, fuel assemblies | Full fuel cycle capability, mines in Niger, Canada, Kazakhstan |
🇦🇺 Australia
| Company | Product Forms | Specialties |
|---|---|---|
| BHP | U₃O₈ concentrate | Olympic Dam (largest known deposit), copper-uranium co-production |
| Rio Tinto (ERA) | U₃O₈ concentrate | Ranger mine (closure 2021), rehabilitation expertise |
🇷🇺 Russia
| Company | Product Forms | Specialties |
|---|---|---|
| Rosatom/ARMZ | U₃O₈, UF₆, enriched uranium, fuel | Integrated nuclear fuel cycle, significant enrichment capacity |
| Uranium One | U₃O₈ concentrate | Mines in Kazakhstan, significant reserves |
🇨🇳 China
| Company | Product Forms | Specialties |
|---|---|---|
| CNNC (China National Nuclear Corp) | U₃O₈, UF₆, fuel assemblies | Domestic production, overseas investments |
| CGN (China General Nuclear) | U₃O₈, nuclear fuel | Husab mine (Namibia), overseas acquisitions |
🇳🇦 Namibia
| Company | Product Forms | Specialties |
|---|---|---|
| Paladin Energy | U₃O₈ concentrate | Langer Heinrich mine, restart after shutdown |
| Rössing Uranium | U₃O₈ concentrate | One of world's longest operating mines (1976-present) |
Market demand by product form
| Product Form | Annual Demand | Major Users | Market Share | Growth Rate (CAGR) |
|---|---|---|---|---|
| Natural U₃O₈ | 65,000 MT U | Nuclear utilities | 100% of nuclear fuel | 2-3% |
| Enrichment Services (SWU) | 52 million SWU | Fuel fabricators | Essential service | 3-4% |
| LEU (3-5% ²³⁵U) | 9,000 MT U | Power reactors | 90% of reactor fuel | 2-3% |
| HEU (>20% ²³⁵U) | 20-30 MT U | Research reactors, naval | Declining | |
| Depleted Uranium | 500-1,000 MT | Defense, shielding | By-product use | Stable |
| MOX Fuel | 200-300 MT HM | Select reactors | 5% of reactor fuel | Limited growth |
Market trends
Supply Deficit: Mine production covers only 74% of reactor requirements; gap filled by secondary sources Kazakhstan Challenges: Sulfuric acid shortages, production guidance cuts affecting global supply Price Volatility: Spot prices $64-77/lb U₃O₈, term prices stronger at $80+/lb Nuclear Renaissance: 60+ reactors under construction globally, AI data centers driving new demand Russia Sanctions: US ban on Russian uranium imports (August 2024) reshaping supply chains Enrichment Bottleneck: Western enrichment capacity constraints driving SWU prices higher SMR Development: Small modular reactors creating new fuel cycle requirements Underinvestment Legacy: 18 years of low prices limiting new mine development Strategic Inventories: China building significant uranium stockpiles (129,000 tU est.)
Moles per kilogram
| Product Form | Formula | MW (g/mol) | Moles/kg |
|---|---|---|---|
| Uranium Metal | U | 238.03 | 4.20 |
| Uranium Dioxide | UO₂ | 270.03 | 3.70 |
| Triuranium Octoxide | U₃O₈ | 842.08 | 1.19 |
| Uranium Hexafluoride | UF₆ | 352.02 | 2.84 |
| Uranyl Nitrate (hydrated) | UO₂(NO₃)₂·6H₂O | 502.13 | 1.99 |
| Ammonium Diuranate | (NH₄)₂U₂O₇ | 624.13 | 1.60 |
References
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