U.S. uranium production expanded in 2026 as domestic miners brought new operations online for the first time in more than a decade. Uranium Energy Corp began production at its Burke Hollow in-situ recovery mine in Texas in April, and Ur-Energy started operations at its Shirley Basin project in Wyoming the same month. Both mark rare new production starts for the domestic industry.
Pricing has stayed elevated through the year. Long-term contract prices climbed to 90 dollars per pound, the highest since 2008. After the uranium spot price surged past 101 dollars in January, it consolidated through the second quarter, opening the period near 84.19 dollars and holding within an 84 to 87 dollar range.
The rally traces to a convergence of factors: rising electricity demand from AI infrastructure that requires steady baseload power, supply constraints among the world's largest producers, and a policy shift toward nuclear energy in many countries. Established producers are scaling accordingly. Cameco forecasts 2026 output of 19.5 million to 21.5 million pounds across its assets, while Energy Fuels expects to grow production to between 1.5 million and 2.5 million pounds after producing 1 million pounds in 2025.
The demand outlook stretches well beyond the current year. Analysts project uranium demand will rise 28 percent by 2030 and nearly double by 2040, driven by new reactor construction, plant life extensions, and advanced reactor deployment.
Source: Investing News Network -- https://investingnews.com/uranium-forecast/