Canada's Role in Global Uranium Market

Over the past few years, the situation in the global nuclear energy industry has been described by the term "atomic renaissance". Nuclear energy is acquiring a special role in connection with the processes of digitalization and development of artificial intelligence, which are behind the growing demand for electricity and requirements for uninterrupted power supply. At the same time, for the United States and its satellites, the development of nuclear energy is not only an integral part of a large–scale technological race, but also a tool for ensuring energy security. It is fundamentally important for the collective West that its nuclear generation in the future can be fully provided with its own raw material base of uranium, primarily of Canadian and Australian origin. Canada ranks 2nd in the world in terms of uranium production and 3rd in terms of uranium reserves. In addition, a distinctive feature of a number of large Canadian uranium deposits are unique ores with the highest uranium content. Currently, Canada is declaring its ambitions to seize in the medium-term global leadership in the uranium market and become the privileged supplier of this raw material to the United States, EU member states, Japan and South Korea. In addition, Canada is interested in the absence of competition from Russia in the global uranium market and intends to make efforts not to cede its market share to the Russian side. At the same time, Ottawa is trying to restrict China's access to Canadian uranium resources by pursuing a policy of discrimination against Chinese uranium buyers and mining companies.

Canada, uranium, uranium mining industry, uranium mining, uranium market, nuclear energy