The Trump administration supports the development of lucrative nuclear policies with technology giants ready to build small modular reactors in many states.
According to the Energy Information Administration (EIA), uranium production in the United States registered profits last year after years of restrained production.
“Production in the fourth quarter of 2024 alone was higher than each year’s annual production for 2019-23.”
Uranium concentrates are used as fuel for nuclear reactors. However, first, it must be processed through a conversion facility and concentration facility where the concentrate is a fuel rod or pellet.
Production has crashed over the past decade. Between 2010 and 2014, the country produced between 3.5 million and 5 million pounds of uranium concentrate. This fell from 2015 to 2017 to £23.5 million.
In 2018, production was soaked at less than 1.5 million pounds, falling below 500,000 pounds since 2019. Last year, uranium concentrate production exceeded 500,000 pounds, leading to a reversed trend.
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Before 80, the US had incentives and favorable trade policies to boost domestic uranium production, according to the EIA. However, these policies ended in the 1980s, leading to a decrease in output.
“Other countries, such as Canada and Australia, have more accessible and high quality uranium deposits, allowing U3O8 (uranium concentrates) to be produced at a lower cost than the US,” the agency said. From the 1980s, imports of uranium concentrates began to increase rapidly.
The increase in uranium concentrates in 2024 “resumes reopening of uranium production at White Mesa Mill in Utah, the only operational uranium plant in the United States, which comes primarily from two in-situ recovery facilities in Texas and Wyoming,” the EIA said.
President Donald Trump has taken action to boost the nuclear power of the United States.
Promotion of nuclear use
Under the Trump administration, the Energy Department has announced measures to strengthen the country’s use of nuclear power.
The department’s research and development efforts must prioritize reliable, affordable and safe energy technologies, including nuclear power, the order said.
“The much-anticipated American nuclear renaissance must be launched during President Trump’s administration. As global energy demand continues to grow, America must lead the commercialization of affordable, abundant nuclear energy,” the order states.
“As a result, the sector will work diligently and creatively to enable the rapid deployment and export of next-generation nuclear technology.”
In October, Amazon said it had signed contracts with Washington, Virginia and Pennsylvania to build a small modular reactor. In the same month, Google announced plans to begin purchasing nuclear power from several small modular reactors developed by Kairos Power.
In December, Meta said it was “intended to identify nuclear developers who will help them achieve AI innovation and sustainability goals.”
For example, building a new data center takes 18-24 months. In comparison, a small modular reactor or light water reactor can take six years.
However, the big advantage is that “once you rise, the reactor works well and nuclear power boasts the highest capacity coefficient of all energy sources.” The report states.
“According to the EIA, the US nuclear fleet had a capacity of 93.1% in 2023, wind power was 33.2% and solar power plants were 23.5%. Natural gas power plants were utilized at about 55%.”
