---
title: "Uranium mining giants warn: Nuclear power demand surges, uranium supply risks are increasing!"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/228519738.md"
description: "The world's largest uranium producer, Kazakhstan, is gradually reducing its sales to Europe and the United States, leading to a continuous decline in the supply available to Western countries. According to the latest forecast from the World Nuclear Association, global uranium demand is expected to double by 2040. European and American utility companies need medium-term supplies; otherwise, supply shocks could further exacerbate tensions in the uranium market"
datetime: "2025-02-17T07:24:40.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/228519738.md)
  - [en](https://longbridge.com/en/news/228519738.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/228519738.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/228519738.md) | [繁體中文](https://longbridge.com/zh-HK/news/228519738.md)


# Uranium mining giants warn: Nuclear power demand surges, uranium supply risks are increasing!

As the position of nuclear energy in the global energy structure continues to rise, energy companies in the United States and Europe are facing an increasingly severe risk of uranium supply shortages.

According to the latest forecast from the World Nuclear Association, global uranium demand is expected to double by 2040. However, Kazakhstan, the world's largest uranium producer, is gradually reducing its sales to Europe and the United States, leading to a continuous decline in the supply available to Western countries.

According to disclosures from Kazakhstan's state-owned mining group Kazatomprom, the company's overall sales share to the United States, Canada, France, and the United Kingdom has dropped from 60% in 2021 to 28% in 2023. A Kazatomprom spokesperson stated that the company intends to maintain sales diversification and does not plan to "put all its eggs in one basket."

Cory Kos, Vice President of Investor Relations at Canadian uranium giant Cameco, warned: "We are on a resource depletion curve that many customers have yet to realize."

Niger, an important uranium supplier to the European Union, saw its supply to Europe decrease by one-third in 2023 compared to 2021. Following a military coup in July 2023, the new government adopted a hostile stance towards Western mining companies, resulting in a complete halt of uranium exports in 2024.

Despite facing numerous challenges, nuclear energy remains a crucial component of the global transition to clean energy. Countries such as the United States, the United Kingdom, and South Korea have committed to doubling global nuclear energy capacity by 2050. At the same time, technology companies are beginning to consider using nuclear energy to power AI data centers.

Berenberg analysts pointed out in January that U.S. utility companies need to "sign medium-term supply contracts," or else supply shocks could further exacerbate tensions in the uranium market

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