This description provides an overview of Australia's role in the global uranium oxide market. Australia is the world's largest producer of uranium oxide, with a large share of the global market. This has been achieved through a combination of advanced mining technology, a large and diverse resource base, and a supportive
Uranium ore deposits are economically recoverable concentrations of uranium within Earth's crust. Uranium is a fairly common element in the Earth's crust, being 40 times more common than silver and 500 times more common than gold. It can be found almost everywhere in rock, soil, rivers, and oceans. The challenge for commercial uranium extraction is to find those areas where the concentrations are adequate to form an economically viable deposit. The primary use for uranium obtained from mining is in fuel for nuclear reactors.