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← Economic Fallout

U.S. uranium production surges to 2.1 million pounds in 2025, highest in eight years

Confirmed1 source · Aug 28, 2026

Domestic yellowcake output more than tripled from 2024 as exploration and development drilling accelerated, though imports still dominate U.S. nuclear fuel supplies.

What happened

U.S. uranium concentrate (U3O8) production reached 2.1 million pounds in 2025, more than triple the 2024 volume and the highest since 2017. Exploration drilling increased to 1,824 holes totaling 1.0 million feet in 2025 from 1,324 holes and 0.6 million feet in 2024; development drilling rose to 3,708 holes with 1.30 million feet of footage compared to 2,462 holes and 1.26 million feet in 2024. U.S. nuclear plant operators purchased 46.9 million pounds of U3O8 equivalent in 2025 at a weighted-average price of $58.46 per pound, up 11% from $52.71 in 2024 but down from 55.9 million pounds purchased in 2024. Canadian uranium supplied 32% of total U.S. deliveries, Kazakhstan 28%, Australia 15%, and U.S.-origin material just 7%.

Context

The surge in domestic uranium production and exploration activity reflects expansion of the U.S. nuclear fuel supply chain. Despite the tripling of domestic output, the United States remains heavily dependent on foreign suppliers for reactor fuel, with domestic production covering only a small fraction of actual U.S. nuclear plant demand. The increase in drilling activity—both exploratory and developmental—indicates operators are investing in expanding known reserves and identifying new deposits, suggesting confidence in sustained or growing uranium demand. The 11% increase in uranium prices year-over-year alongside a decline in total pounds purchased suggests market tightening or shifting sourcing preferences among U.S. nuclear operators.