Uranium production is concentrated in a handful of major companies including Cogema Resources, Cameco Corp., BHP Billiton, Rio Tinto, and Energy Resources. In 2003, eight companies accounted for almost 80% of total world production. Approximately 50% of global uranium production comes from Canada and Australia.

Annual uranium demand for power generation is about 160 million pounds. The majority is used in nuclear power generation. There are currently 438 nuclear power reactors in 31 countries with total output capacity of more than 364,700 megawatts providing over 16% of the world's electricity. In several Asian and European countries the percentage of electricity generated from nuclear power exceeds 35%. Many existing nuclear power plants have increased capacity and China, for example, intends to quadruple its nuclear power generation by 2020.

Cameco Corporation, the world's largest uranium producer, has been talking about a production shortfall for years. Uranium supply from mining is only 75 million pounds per year while current annual demand is approximately 160 million pounds. The most recent rise in the price of uranium might be an indication that the days of cheap uranium are over.