FT predicted the growth of Russia's share in the global uranium market to 36% by 2040

By 2040, Russia's share in global uranium production could grow from almost one quarter to 36% if all countries continue to operate their core facilities at full capacity. About this on September 7th The Financial Times newspaper reported, citing an analyst from the CSA consulting agency.

"By 2040, we may face dependence on Russian uranium, comparable to our dependence on Russian oil and gas in 2022," Gareth Heywood, head of special projects at CSA, was quoted as saying in the material.

Experts note that against this background, the long-term forecast for the price of uranium, according to UxC estimates, has already increased from $80 to $94 per pound, and analysts expect a further increase in the cost of raw materials due to a lack of long-term investments in the development of new deposits.

Despite the fact that countries such as Canada have the potential to expand existing mines and introduce new capacities, the implementation of these projects involves significant risks. In this regard, the CSA called on countries to urgently stimulate investment in the uranium industry by subsidizing long-term contracts to fix stable prices in the market.

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On August 22, the investment company Sprott reported that the dependence of European nuclear energy on Russian nuclear fuel increased in 2025, despite attempts by the European Union to diversify supplies. According to analysts, Russian uranium supplies to European energy companies increased by 7% last year, conversion services by 9%, and enrichment services by 12%. As a result, Russia retained about 16% of the European uranium market, 24% of the conversion market, and 23% of the enrichment market.