In July, the world’s largest uranium mine shut down for two weeks — not because of uranium, but because of a broken sulfuric acid plant. That small mechanical failure exposed something much bigger: a global uranium deficit that’s been quietly building for years.
Miners produce roughly 155 million pounds of uranium a year. Reactors burn 185 million. The gap used to be covered by decades-old stockpiles — those are now basically gone. By 2030, US nuclear companies will be short 40% of the uranium they need. By 2033, 91%.
And it’s not just uranium. Oil, gas, shipyards, refineries, coal — years of underinvestment meeting rising demand across the board.
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