Uranium has been mined in every continent except Antarctica and Kazakhstan is the largest single producer of uranium in the world, producing just under half of the world’s supply.
Other top producers globally include, Canada, Namibia, and Australia. Canada hosts the world’s largest uranium producing mine, Cigar Lake in Saskatchewan and Australia is ranked as the world’s third largest uranium producer.
We look at three global uranium companies to add to your portfolio watchlist.
NexGen Energy (TSX:NXE)
Listed on the Toronto, New York, and Australian Securities Exchanges, British Columbia based NexGen Energy Ltd. (TSX:NXE) focuses on the development of the Rook I Project located in the Athabasca Basin of Saskatchewan, Canada.
In addition, NexGen owns a 50% interest in exploration stage company, IsoEnergy.
Company shares are up over 35% on the one year mark and were last trading at C$11.68.
CanAlaska Uranium Ltd (TSXV:CVV)
Saskatchewan headquartered CanAlaska Uranium (TSXV:CVV) self labels as a project generator and has extensive land holdings with approximately 500 thousand hectares focused on high grade uranium deposits.
The company is actively advancing the Pike Zone discovery – a high-grade uranium discovery on its West McArthur Joint Venture project.
CanAlaska also deploys a hybrid project generator model, focusing on the acquisition and sale of prospective projects, while exploring its land mass at the same time.
On the one year mark, company shares are up over 100 per cent adding around 40 cents to its share price.
Company shares were last trading at C$0.79.
Paladin Energy (ASX:PDN)
Headquartered in Perth Australia and founded in 1993, Paladin Energy (ASX:PDN) is the largest ASX-listed primary uranium miner and global nuclear utilities supplier.
Paladin currently owns a 75 per cent stake in the Langer-Heinrich Mine in Namibia with an annual capacity of 6 million pounds of uranium.
In 2018, operations were halted due to low uranium prices and restarted in 2022.
Paladin has proposed a C$1.14B acquisition of Canadian uranium explorer Fission Uranium. If completed, the deal would make Paladin the 100% owner of the Patterson Lake South uranium property, making Paladin a large pure-play global uranium company.
The feasibility study for the property projects a 10-year mine life with an annual production of 9.1 million pounds of uranium.
In recent news, Paladin shares plunged nearly 30% in November after the uranium miner revised down its production forecast by a million pounds for the Langer-Heinrich mine in Namibia.
Shares of Paladin Energy are down over 20% around the one year mark. Over the past five years, shares are up over 800%.
Paladin Energy shares were last trading at $7.59.
This article originally appeared on Stockhouse and was reproduced with permission.
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