Kazakhstan is one of the world's largest producers and exporters of uranium a crucial element in nuclear energy production the country's uranium deposits are among the richest in the world and its significant role in the global uranium Market has played a vital role in its economy since gaining independence from the Soviet Union in 1991 Kazakhstan has made a concerted effort to develop its uranium resources and its uranium exports have significantly contributed to the country's economic growth in this video we will explore how uranium exports have played a crucial role in the development of kazakhstan's economy and the challenges and opportunities that lie ahead for the country's uranium industry kazakhstan's uranium production has grown significantly over the past two decades making the country the world's top producer of uranium since 2009. according to the world nuclear Association in 2020 Kazakhstan produced 22 808 tons of uranium accounting for 43 percent of Global Production this significant production has led to Kazakhstan being the world's largest exporter of uranium with exports totaling 13 700 tons in 2020. the revenue generated from uranium exports has had a significant impact on kazakhstan's economy accounting for approximately eight percent of the country's GDP and over 25 percent of its total exports in recent years the uranium industry has also created jobs with estimates suggesting that it employs around 30 000 people directly and indirectly moreover Kazakhstan is Keen to expand its role in the global uranium market with the government setting a Target to increase uranium production to 30 000 tons by 2025. however the country also faces challenges including volatile Global uranium prices and environmental concerns surrounding uranium mining [Music] the history of uranium Discovery dates back to the late 18th century when German chemist Martin Heinrich claproth discovered a new element in the mineral pitch bone which he named uranium after the planet Uranus however it was not until the 20th century that the full potential of uranium was realized particularly its use as fuel for nuclear power plants the first significant uranium Discovery in Kazakhstan was made in 1943 in the caretal mountains in the south of the country by a Soviet geologist however it was not until the 1950s that uranium mining began on a large scale in Kazakhstan primarily to meet the needs of the Soviet Union's nuclear weapons program after the collapse of the Soviet Union in 1991 Kazakhstan gained independence and the uranium industry became a vital part of the country's economy the country's significant uranium deposits attracted foreign investment and Kazakhstan began exporting uranium to countries such as Russia and China in 1999 the state-owned kazatan prom was established to oversee the country's uranium industry and the government implemented measures to attract foreign investment in the sector since then Kazakhstan has become the world's top producer of uranium with the country accounting for approximately 43 percent of Global Production in 2020. the country's uranium exports have also grown significantly with the majority of exports going to China Russia and the United States despite its significant role in the global uranium Market kazakhstan's uranium industry has faced challenges including environmental concerns and volatile Global uranium prices nevertheless the government has made efforts to address these challenges and to expand the country's uranium industry setting ambitious targets for Uranium production in the coming years [Music] several countries around the world produce and Export uranium including Canada Australia Kazakhstan Russia and Namibia however Canada and Australia are widely considered to be the main competitors in the global uranium Market Canada is the second largest producer of uranium in the world accounting for approximately 13 percent of Global Production in 2020. the country's uranium deposits are primarily located in the province of Saskatoon and its uranium exports are mainly to the United States and Europe according to the world nuclear Association Canada exported approximately six thousand one hundred seventy tons of uranium in 2020 with a total export value of 402 million dollars Australia is the third largest producer of uranium in the world accounting for approximately 12 percent of Global Production in 2020. the country's uranium deposits are mainly located in the Northern Territory in South Australia and its uranium exports are primarily to China and the United States according to the world nuclear Association Australia exported approximately six thousand tons of uranium in 2020 with a total export value of 415 million dollars while both Canada and Australia are significant players in the global uranium Market the industry is facing challenges including a decline in demand due to the shutdown of nuclear power plants and the growth of renewable energy sources Additionally the kava-19 pandemic has disrupted Supply chains and caused delays in uranium mining projects in Kazakhstan the uranium industry is a vital part of the economy the revenue generated from uranium exports is used to fund Public Services infrastructure projects and social programs in these countries in 2020 Kazakhstan produced 22 808 tons of uranium making it the world's top producer and exported 13 700 tons of uranium generating a total export revenue of approximately 1.1 billion dollars the uranium industry also creates jobs directly and indirectly including in mining transportation and construction [Music] in conclusion kazakhstan's uranium exports have been a crucial driver of the country's economic growth generating significant Revenue in creating job opportunities as the demand for nuclear energy continues to evolve Kazakhstan will need to adapt and invest in the industry to maintain its position as a leading player in the global uranium market and continue to contribute to the country's economic growth