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New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Uranium Ore Global Market Report 2022' -
94 billion in 2021 to $9.82 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The uranium ore mining market is expected to grow to $11.54 billion in 2026 at a compound annual growth rate (CAGR) of 4.1%.
The uranium ore mining market consists of sales of uranium ores and concentrates by entities (organizations, sole traders, and partnerships) that mine and beneficiate uranium-radium-vanadium ores.
The main types of uranium ore mining are granite-type uranium deposits, volcanic-type uranium deposits, sandstone-type uranium deposits, and carbonate-siliceous-pelitic rock-type uranium deposits.Carbonate-siliceous-pelitic rock-type uranium deposits are an important mineralization phenomenon outside the Red Bed.
Both not only have the same source, same time, and same area but also have the relationships of cause and effect. The mining type includes underground mining, and surface mining.
Asia-Pacific was the largest region in the uranium ore mining market in 2021. The regions covered in this uranium ore mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growth in the uranium ore mining market is due to increasing nuclear fuel spending in countries such as Australia, Kazakhstan, and Canada owing to increasing spend on the defence industry.
The use of autonomous hauling systems trucks in the mining industry is significantly enhancing production efficiency and reducing turnaround time.Autonomous haulage systems control and track mining vehicle movements, and coordinate and autonomously drives off-highway haul trucks operating in a mine.
This system increases efficiency by minimizing delays, reducing operating costs, and reducing fuel consumption, thereby minimizing carbon emissions.
In January 2022, Uranium Energy Corp, a U.S based uranium mining and exploration company acquired Uranium One Americas (U1A), Inc for an amount of $112 million in cash together with an additional $2.9 million in estimated working capital (primarily pre-paid insurance and land payments) and the assumption of $19 million in reclamation bonding. With this acquisition, UEC's sector-leading US ISR production profile increases to 6.5 million pounds U3O8 per year based on the permitted and installed capacity of our Wyoming and South Texas hub-and-spoke operations. Uranium One Americas (U1A), Inc is a US-based uranium-radium-vanadium ores company.
The countries covered in the uranium ore mining market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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