The exploration budgets of uranium companies had been steadily declining since 2011, but the recent rosy outlook of the metal has caused a reversal of this trend. According to S&P Global Capital, exploration budgets for uranium increased by 10.7% year-on-year in 2021. When that increase is broken down by country, Canada emerges as the leader of the pack with an investment of $67 million being budgeted for exploratory work by Canadian-based companies. The United States comes in second with $10.1 million earmarked for uranium exploration.
While these exploration budgets recorded in 2021 are a far cry from the massive investment sunk into exploring for uranium as the 2000s came to…
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