Uranium production US rises to highest level since 2018

Published: 2025-04-09 13:01:15 ET UUUU

Key takeaways

The United States experienced a significant increase in uranium production in 2024, reaching its highest level since 2018. This increase was largely driven by higher uranium prices, which encouraged companies to increase production. Two in-situ recovery facilities, one in Texas and the other in Wyoming, played an important role in this growth. In addition, the resumption of operations at Energy Fuels' White Mesa plant in Utah, the only active uranium plant in the country, further contributed to the increase in production. In the fourth quarter of 2024 alone, production exceeded total annual production for each year between 2019 and 2023.

Crucial role in nuclear power and steel production

The White Mesa Mill can produce not only uranium, but also rare earth elements and vanadium, a crucial component used in steel production. Energy Fuels has stated its intention to focus primarily on uranium production by 2025. Uranium concentrate, the product of these mining operations, is widely used as fuel for civilian nuclear reactors and in various medical applications. Before it can be used, however, it must be processed in conversion and enrichment facilities. This processed material is then processed into fuel rods or pellets at specialized plants and eventually loaded into civilian nuclear reactors to generate power.

Nuclear energy strategy and industry trends

This increase in uranium production coincides with a broader trend in the U.S. to embrace nuclear power as a key pillar of its energy strategy. The Trump administration has taken concrete steps to promote the use of nuclear energy. Secretary of Energy Chris Wright issued an order prioritizing reliable, affordable and safe energy technologies, including nuclear power. This order emphasized the importance of leading the commercialization of abundant and cost-effective nuclear power on a global scale.

Industry-led growth and future prospects

Moreover, large U.S. technology companies are increasingly turning to nuclear energy to power their operations, particularly energy-intensive data centers. Amazon announced contracts to build small modular reactors in several states, while Google unveiled plans to buy nuclear power from Kairos Power's reactors. Meta also stated its intention to work with nuclear power developers to support its artificial intelligence and sustainability goals. This growing demand for nuclear power, fueled in part by tech giants, places the United States in a favorable position to meet this growing need thanks to recent increases in uranium production.

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