CHARTS: Uranium miners race to catch surging nuclear demand

From Mining.com

The uranium market is slipping into a structural deficit as surging nuclear demand outpaces the development of new mines.

Global uranium exploration and development spending exceeded $1.78 billion in 2023 and 2024, up about 46% from the previous two years, according to a new report jointly published by the OECD Nuclear Energy Agency (NEA) and International Atomic Energy Agency (IAEA).

Production is responding, rising about 20% over the same period to more than 116,000 tonnes uranium (tU). Output reached 61,924 tU in 2024 alone, the highest annual level since 2016.