Uranium entered 2026 with spot prices back above $100 per pound, a level that has repriced mining equities and pulled US utilities back into term contracting after an extended stretch of under-contracting that left many reactor operators short of long-term supply cover.
Cameco produced 21 million pounds of uranium in 2025, roughly 15 percent of worldwide output, and management has guided 2026 production of 19.5 million to 21.5 million pounds across its asset base. Uranium Energy Corp is advancing a set of low-cost in-situ recovery projects intended to bring domestic production online at costs competitive with conventional mining.
Centrus Energy holds a distinct position in the fuel cycle. The Nuclear Regulatory Commission granted the company authorization to produce high-assay low-enriched uranium at its Ohio facility, making Centrus the first and only domestic producer of the fuel type that advanced reactor designs require. The approval addresses a supply gap that has constrained deployment schedules for several next generation reactor programs.
Domestic mining output remains small relative to consumption. US uranium production totaled 224,331 pounds of triuranium octoxide in 2023, which covered roughly 0.4 percent of the fuel requirements of American nuclear reactors that year. The remainder arrived through imports and inventory drawdown, a dependency that has drawn federal attention as reactor construction plans expand.
Source: Yahoo Finance - https://finance.yahoo.com/news/nuclear-comeback-2026-3-uranium-175000894.html