Domestic uranium production in the United States is expanding in 2026 after years of limited activity, as new mines come online and demand from the power sector strengthens. Two projects marked notable restarts in April 2026.
Uranium Energy Corp began production at its Burke Hollow in-situ recovery mine in Texas, one of the first new domestic uranium production starts in more than a decade. In the same month, Ur-Energy started mining operations at its Shirley Basin in-situ recovery project in Wyoming. Both efforts aim to lift US output and reduce reliance on imported uranium.
Pricing has held in a firm range. Uranium futures sat around 85 dollars per pound in mid June 2026, holding the band established since early April, after spot prices had pushed back above 100 dollars per pound earlier in the year. Among producers, Cameco has guided to 2026 production of 19.5 million to 21.5 million pounds across its assets.
The demand picture has been reshaped by the technology sector. Meta and Microsoft both signed agreements to secure nuclear capacity for future artificial intelligence data center operations, part of a broader pivot as the federal government moves to speed approvals for power plants. Rising AI related electricity needs, alongside policy support for nuclear power, have lifted the longer term outlook for uranium. Equity markets have been choppy, with the Sprott Uranium Miners ETF correcting from a January record of 84.95 dollars to 56.95 dollars by June 18, 2026.
Source: Sprott - https://sprottetfs.com/insights/uranium-outlook-2026/