Uranium miningUranium mining is the process of extraction of uranium ore from the ground. Over 50 thousand tons of uranium were produced in 2019. Kazakhstan, Canada, and Australia were the top three uranium producers, respectively, and together account for 68% of world production. Other countries producing more than 1,000 tons per year included Namibia, Niger, Russia, Uzbekistan, the United States, and China. Nearly all of the world's mined uranium is used to power nuclear power plants.
Enriched uraniumEnriched uranium is a type of uranium in which the percent composition of uranium-235 (written 235U) has been increased through the process of isotope separation. Naturally occurring uranium is composed of three major isotopes: uranium-238 (238U with 99.2739–99.2752% natural abundance), uranium-235 (235U, 0.7198–0.7202%), and uranium-234 (234U, 0.0050–0.0059%). 235U is the only nuclide existing in nature (in any appreciable amount) that is fissile with thermal neutrons.
Uranium oreUranium ore deposits are economically recoverable concentrations of uranium within the Earth's crust. Uranium is one of the most common elements in the Earth's crust, being 40 times more common than silver and 500 times more common than gold. It can be found almost everywhere in rock, soil, rivers, and oceans. The challenge for commercial uranium extraction is to find those areas where the concentrations are adequate to form an economically viable deposit. The primary use for uranium obtained from mining is in fuel for nuclear reactors.
PhosphateIn chemistry, a phosphate is an anion, salt, functional group or ester derived from a phosphoric acid. It most commonly means orthophosphate, a derivative of orthophosphoric acid, aka. phosphoric acid . The phosphate or orthophosphate ion [PO4]3− is derived from phosphoric acid by the removal of three protons H+. Removal of one proton gives the dihydrogen phosphate ion [H2PO4]− while removal of two ions gives the hydrogen phosphate ion [HPO4]2−. These names are also used for salts of those anions, such as ammonium dihydrogen phosphate and trisodium phosphate.
Uranium marketThe uranium market, like all commodity markets, has a history of volatility, moving with the standard forces of supply and demand as well as geopolitical pressures. It has also evolved particularities of its own in response to the unique nature and use of uranium. Historically, uranium has been mined in countries willing to export, including Australia and Canada. However, countries now responsible for more than 50% of the world’s uranium production include Kazakhstan, Namibia, Niger, and Uzbekistan.
