Saskatchewan Uranium Production and Sales Reach all Time Highs

CANADA, April 23 - Released on April 23, 2025

Saskatchewan's uranium industry is responding to growing global demand by setting new records for annual sales and production in 2024.  

Last year, uranium sales reached a new high of $2.6 billion, exceeding Saskatchewan's Growth Plan target of increasing the annual value of uranium sales to $2 billion dollars by 2030. Uranium production also reached a new record high of 16.7 thousand tonnes in 2024, up 28 per cent from 2023.  

"The strong growth of our world-class uranium industry is great news for Saskatchewan," Energy and Resources Minister Colleen Young said. "With our abundant, high-quality reserves and stable regulatory approach to resource development, our government is very optimistic about Saskatchewan's increasing role in global energy security in the coming years. We expect uranium production will continue to rise with the McClean Lake mine resuming operations this year and other major projects approaching construction."  

In 2024, uranium exploration spending is estimated to have reached $200 million and is expected to remain strong in 2025. With this increased exploration investment targeting uranium, Saskatchewan is projected to reach its Critical Minerals Strategy goal of securing 15 per cent of Canadian mineral exploration spending this year, well ahead of the 2030 target.  

Saskatchewan potash production also reached record highs in 2024. Last year, 15.1 million metric tonnes potassium oxide (K2O) of potash was produced in Saskatchewan, an eight per cent increase from 2023. Saskatchewan is the world's leading potash producer, accounting for approximately one-third of global production.

Saskatchewan is the world's second-largest producer of uranium and has the largest high-grade uranium deposits in the world in the Athabasca Basin. The province's uranium industry employs over 3,400 people and procures hundreds of millions of dollars in goods and services from Saskatchewan businesses.  

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