Energy Shift
The Next Generation of Uranium Deposits
The following content is sponsored by the Skyharbour Resources
The Next Generation of Uranium Deposits
Government policies are shifting in favor of nuclear energy as countries try to reduce carbon emissions.
Unlike coal, oil, or gas, nuclear power plants produce little to no CO2. As a result, nuclear is the second largest source of low-carbon electricity in the world, behind hydropower.
In this infographic from Skyharbour Resources, we look closely at the next generation of uranium deposits necessary to power up the nuclear sector.
The Uranium Supply Squeeze
Roughly 440 nuclear reactors operating worldwide generate around 10% of the world’s electricity annually.
In the United States, for example, nuclear energy provides 52% of carbon-free electricity, and in the European Union, it accounts for 43%. In three European countries, the share of nuclear energy in the electricity mix exceeds 50%.
| Rank | Country | Nuclear Share of Electricity Mix |
|---|---|---|
| #1 | France 🇫🇷 | 70.6% |
| #2 | Slovakia 🇸🇰 | 53.1% |
| #3 | Ukraine 🇺🇦 | 51.2% |
| #4 | Hungary 🇭🇺 | 48.0% |
| #5 | Bulgaria 🇧🇬 | 40.8% |
| #6 | Belgium 🇧🇪 | 39.1% |
| #7 | Slovenia 🇸🇮 | 37.8% |
| #8 | Czechia 🇨🇿 | 37.3% |
| #9 | Armenia 🇦🇲 | 34.5% |
| #10 | Finland 🇫🇮 | 33.9% |
| #11 | Switzerland 🇨🇭 | 32.9% |
| #12 | Sweden 🇸🇪 | 29.8% |
| #13 | South Korea 🇰🇷 | 29.6% |
| #14 | Spain 🇪🇸 | 22.2% |
| #15 | Russia 🇷🇺 | 20.6% |
| #16 | Romania 🇷🇴 | 19.9% |
| #17 | United States 🇺🇸 | 19.7% |
| #18 | Canada 🇨🇦 | 14.6% |
| #19 | United Kingdom 🇬🇧 | 14.5% |
| #20 | Germany 🇩🇪 | 11.3% |
All of the world’s nuclear reactors are powered by uranium. They require approximately 67,500 tonnes of uranium annually. However, the uranium market has been in a growing deficit since 2015, with the widening demand-supply gap being filled by civil stockpiles and secondary sources.
The World Nuclear Association expects a 27% increase in demand between 2021 and 2030.
In addition, the recent energy crisis following Russia’s invasion of Ukraine has led investors to the uranium market, betting on nuclear energy to shift away from fossil fuels. In this scenario, new uranium mines are expected to come online in the next decade to meet the demand.
The World’s Richest Uranium Region
Canada is the world’s second-largest producer of uranium, accounting for roughly 13% of total global output.
The country’s Athabasca Basin has the highest-grade uranium deposits in the world, with grades that are 10 to 100 times greater than the global average. The Northern area covers almost a quarter of Saskatchewan and a small portion of Alberta.
The region— sometimes described as the “Persian Gulf of uranium” — is home to Cameco’s Cigar Lake, the world’s richest uranium mine.
According to the Fraser Institute, Saskatchewan ranks #2 as one of the top mining jurisdictions in the world. The province appears only behind Western Australia regarding geologic attractiveness, government policy, and attitudes toward exploration investment.
In recent years, many uranium companies have made uranium discoveries in the basin, with Skyharbour Resources among them. The company holds an extensive portfolio of fifteen uranium exploration projects, ten of which are drill-ready, covering 450,000 hectares of mineral claims.
The U.S. Nuclear Future
While the Biden administration is urging lawmakers to pass a $4.3 billion plan to purchase enriched uranium from domestic producers, the country’s production is still considered small in scale.
For this reason, Athabasca Basin and companies like Skyharbour Resources are expected to play a key role in the U.S.’ nuclear future.
Skyharbour Resources is becoming an industry leader in high-grade Canadian uranium exploration needed for nuclear power and clean energy.
Energy Shift
Charted: Coal Still Dominates Global Electricity Generation
Fossil fuels account for nearly 60% of power generation.
Charted: Coal Still Dominates Global Electricity Generation
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Key Takeaways
- Fossil fuels made up nearly 60% of 2024 electricity generation.
- Coal accounts for 35% of total power generation.
Fossil Fuels Still Power Most of the World
Global energy demand grew faster than average in 2024, driven by rising electricity use across sectors. The power sector led the surge, with demand growing nearly twice as fast as overall energy use—fueled by increased cooling needs, industrial activity, transport electrification, and the expansion of data centers and AI.
Despite a growing push toward cleaner energy sources, coal remains the leading source of electricity generation worldwide. In 2024, fossil fuels accounted for nearly 60% of global power generation, with coal alone contributing 35%, according to the International Energy Agency.
While renewable energy continues to expand, making up about one-third of total electricity production, the global energy mix still leans heavily on traditional sources.
| Country | Coal | Natural Gas | Oil | Renewables | Nuclear |
|---|---|---|---|---|---|
| 🇮🇳 India | 73.4% | 3.3% | 0.2% | 20.5% | 2.6% |
| 🇨🇳 China | 58.4% | 3.2% | 0.1% | 33.9% | 4.4% |
| 🇺🇸 U.S. | 15.6% | 42.6% | 0.7% | 23.3% | 17.9% |
| 🇪🇺 EU | 10.7% | 15.6% | 1.5% | 48.7% | 23.6% |
| 🌍 Global | 34.5% | 21.8% | 2.4% | 32.1% | 9.1% |
In emerging markets and developing economies, coal continues to be the backbone of power systems. China, the world’s largest energy consumer, generated nearly 60% of its electricity from coal. In India, coal’s dominance is even more pronounced, providing close to three-quarters of all electricity produced.
In contrast, advanced economies are increasingly relying on cleaner sources. In 2024, the European Union made significant strides in renewable energy adoption—nearly half of its electricity came from renewables, far exceeding the global average.
In the United States, natural gas led the power mix, accounting for over 40% of electricity generation in 2024. President Trump’s pro-coal policies and the surge in energy demand from AI innovation are expected to boost coal production in the U.S. over the next few years.
Learn More on the Voronoi App 
If you enjoyed this topic, check out this graphic that shows how 36 companies are responsible for half of the fossil fuel and cement CO2 emissions.
Energy Shift
How the Largest Importers of Russian Fossil Fuels Have Changed (2022 vs. 2025)
Despite sanctions against Moscow, the EU remains a key consumer of Russian fossil fuels.
How the Largest Importers of Russian Fossil Fuels Have Changed (2022 vs. 2025)
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Since the war in Ukraine began on February 24, 2022, Russia has earned $915 billion from fossil fuel exports, with EU countries accounting for over $223 billion.
Despite sanctions against Moscow, the EU remains a key consumer of Russian fossil fuels.
This graphic highlights the largest importers of Russian fossil fuels, based on the daily flow of oil and gas, using data from the CREA Fossil Fuel Tracker as of March 2025.
China Becomes the Biggest Buyer
In June 2022, China overtook the EU as the largest importer of Russian fossil fuels. Today, China imports nearly six times more than the EU. India and Turkey have also emerged as major buyers.
| Country | 2022-01-14 (tonnes) | 2025-03-13 (tonnes) |
|---|---|---|
| 🇨🇳 China | 435,025 | 607,288 |
| 🇪🇺 EU | 928,998 | 104,646 |
| 🌍 Others | 244,945 | 275,747 |
| 🇮🇳 India | 28,907 | 344,848 |
| 🇹🇷 Turkey | 138,860 | 239,662 |
| 🇰🇷 South Korea | 93,267 | 30,255 |
| 🇺🇸 United States | 33,468 | 0 |
| 🇬🇧 UK | 49,062 | 0 |
Meanwhile, imports from the U.S. and UK, which were relatively small before the invasion, have dropped to zero.
EU Reliance on Russian Fuel
A report released by Ember estimates that European purchases of Russian gas amounted to €21.9 billion ($23.6 billion) in 2024.
Additionally, data collected by Kpler and analyzed by POLITICO Europe revealed that in the first 15 days of 2025, the 27 EU countries imported a record-high 837,300 metric tons of liquefied natural gas (LNG) from Russia. This has raised concerns that billions of dollars could be fueling Moscow’s war in Ukraine.
Russia’s Position in Global Oil Production
Russia remains one of the world’s top oil producers, frequently competing with Saudi Arabia for the second spot behind the United States.
Following the fall of the Soviet Union, Russia’s oil industry was privatized, but in 2021, the state forced a consolidation and restructuring of the sector. Today, Gazprom, Rosneft, and Lukoil are Russia’s leading oil and gas producers.
Learn More on the Voronoi App
If you enjoyed this topic, check out this graphic that shows Ukraine’s mineral resources.
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