US producers mined 2.1 million pounds of triuranium octoxide (U3O8) in 2025, the most since 2017 and more than triple the total mined in 2024, according to the EIA.
U3O8, sometimes called yellowcake for its powdered, yellow appearance, is the base component of nuclear reactor fuel. Millers extract it from mined uranium ore, then send it to conversion and enrichment facilities, where it becomes fuel pellets assembled into rods for nuclear reactors.
Drilling activity increased
Exploration drilling to locate new uranium deposits totaled 1,824 holes and more than 1.0 million feet in 2025, up from 1,324 holes and 0.6 million feet in 2024. Development drilling, which measures the size, shape and grade of known deposits, rose to 3,708 holes and 1.30 million feet, from 2,462 holes and 1.26 million feet a year earlier.
Plants paid more, bought less
Owners and operators of US nuclear plants bought 46.9 million pounds of U3O8 equivalent in 2025, down from 55.9 million pounds in 2024. They paid a weighted-average price of $58.46 per pound, 11% higher than the 2024 average of $52.71.
Most supply still comes from abroad
| Supplier | Share of 2025 deliveries |
|---|---|
| Canada | 32% |
| Kazakhstan | 28% |
| Australia | 15% |
| United States | 7% |
Canada was the largest source of the U3O8 delivered to US nuclear plants in 2025, followed by Kazakhstan and Australia. US-origin material made up 7% of total deliveries.
