U.S. Uranium Production Highest in Six Years During 2024: EIA

U.S. uranium concentrate production reached a six year high of around 680,000 pounds of U3O8 during 2024, according to an April 3 report published by the U.S. Energy Information Administration. Despite increasing production and government policies to incentivize uranium concentrate, the U.S. remains a net importer. Uranium is widely used by nuclear power plants for nuclear fission. An increasing amount of the fuel used by power reactors is purchased from other countries owing to declining domestic production.

The production increase during 2024 can be attributed to a sustained period of higher uranium prices. Higher uranium prices have incentivized production last year, following a decline in 2023. Domestic uranium production declined during 2023 because the only operating conventional uranium mill in the U.S., the White Mesa Mill in Utah, did not produce. During 2023, uranium concentrate production occurred at five in-situ recovery facilities, four in Nebraska and one in Wyoming.

Imports of uranium concentrate during 2023 accounted for 99 percent of the nuclear generator’s requirements. Foreign producers mainly supply the U.S. front end nuclear fuel cycle, however federal policies have been rolled out of late to expand the domestic nuclear fuel supply chain. The U.S. Energy Department received $2.7 billion in funding to help revitalize the domestic fuel production for commercial nuclear power stations. Developing domestic capacity for low enriched uranium guarantees an adequate fuel supply is obtainable from reliable sources to sustain the existing fleet of U.S. nuclear reactors and create a strong foundation to supply future deployments of innovative nuclear technologies both at home and abroad.

The increase in production during 2024 largely came from two in-situ recovery facilities, one in Wyoming and one in Texas, and the resumption of uranium production at White Mesa Mill in Utah, the only active uranium mill in the U.S.