America’s resource extraction history hinges on two gold rushes with practically paradoxical origins.
In 2025, global uranium mine supply is projected to be 176 million pounds, while demand is expected to reach 182 million, resulting in a 6 million-pound deficit. This shortfall is expected to increase significantly over the next 15 years. By 2040, uranium demand is forecast to surge to 397 million pounds, a staggering 118% increase from 2025 levels, while supply is only expected to grow modestly to 201 million, up just 14%. The result: an anticipated deficit of 197 million pounds, equivalent to the output of 11 Cigar Lake Mines, one of the world’s largest uranium producers.
A recent S&P Global report reveals that the average time for copper mines to transition from discovery to production has lengthened significantly.
The relationship between copper consumption and global population growth from 1900 to 2023 illustrates how copper demand has evolved alongside human development.
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