Uranium for the reactor restarts and small modular reactors hyperscalers are contracting for 24/7 power.
Hyperscalers are signing long-term nuclear power deals for always-on, low-carbon electricity. Uranium supply is concentrated in Kazakhstan and Canada, and Russian enriched-uranium supply to the US is restricted.
This is the cleanest way to link mining to AI electricity demand. It is also the most sentiment-driven, with sharp swings in both miners and the physical uranium price.
Context: Carnegie Endowment, Jun 2026
Supply status and the main constraint for each mineral, from its sourced profile in the database.
Grouped from diversified majors to developers and funds. Market data as of October 6, 2026.
The largest Western uranium miner, plus fuel services and a stake in Westinghouse. Hyperscalers signing nuclear power deals make it the core AI-power-generation mining stock.
Kazakhstan's state-controlled uranium company and the world's largest producer and seller of natural uranium, listed in London and Astana.
US in-situ uranium producer with a large US resource base and Canadian projects.
Top US uranium producer whose White Mesa Mill in Utah also separates rare earths. In 2026 it reported pilot-scale terbium production from US monazite.
Developer of Rook I in Saskatchewan's Athabasca Basin, one of the largest undeveloped high-grade uranium deposits.
Developer of the Wheeler River uranium project in Saskatchewan's Athabasca Basin.
The largest uranium ETF, mixing miners with nuclear-component and utility-adjacent names.
Sprott uranium-miners ETF with higher purity to mining and physical uranium than URA.
Sprott ETF of junior uranium miners and developers. Higher risk and higher beta.
Closed-end trust that holds physical uranium, so it tracks the uranium price without mining risk.
| Company / fund | Minerals | Type | HQ | 12 mo | ||||
|---|---|---|---|---|---|---|---|---|
| CCJ | Cameco | U | Producer | CA | $41B | +10.5% | +0.2% | |
| KAP.L | Kazatomprom | U | Producer | KZ | $17B | +25.5% | +22.0% | |
| NXE | NexGen Energy | U | Developer | CA | $6.2B | +8.1% | +1.9% | |
| SRUUF | Sprott Physical Uranium Trust | U | Commodity fund | US | $6.2B | +2.8% | +0.7% | |
| UEC | Uranium Energy Corp | UTi | Producer | US | $5.0B | -23.5% | -17.2% | |
| URA | Global X Uranium ETF | U | ETF | US | $4.2B | -15.7% | -8.9% | |
| UUUU | Energy Fuels | UVDyTb | Producer | US | $2.8B | -31.8% | -23.1% | |
| DNN | Denison Mines | U | Developer | CA | $2.5B | -3.2% | +0.7% | |
| URNM | Sprott Uranium Miners ETF | U | ETF | US | $1.2B | -15.7% | -10.1% | |
| URNJ | Sprott Junior Uranium Miners ETF | U | ETF | US | $205M | -26.8% | -17.6% |
Not investment advice. Critical-Minerals.si is an independent research site. Baskets and model allocations are illustrative frameworks for exploring exposure, not recommendations to buy or sell any security. Mining and commodity equities are volatile, and many names listed here are small, foreign-listed or pre-revenue. Do your own research and consider a licensed adviser. Market data as of the date shown; prices change constantly.