If you’ve followed my previous blog “simplycondos.com” you will know that I have long been pointing out the flawed logic surrounding Donald Trump. As Toronto’s top Buyer’s Agent for over 2 decades I would not support any of my client’s interests in his properties!
So, I thought I’d do just a little bit of cursory research and, unsurprisingly the research says that he is simply bluffing when making these ludicrous public statements. I don’t understand why the general public tolerates the delusional conduct by someone who has been caught in so many lies and corrupt/criminal acts!
Now, this is no adversarial hit job I’m undertaking here. I don’t do that.
Rather, allow me to simply lay out the (hard indisputable) facts that contradict Mr. Trump’s statement.
URANIUM . . . . . Canada is the second largest producer and exporter of uranium in the world.
Canada proved to be responsible for 24% of global production in 2024.
In 2024 Canada produced 14.3 kilotons of uranium worth roughly $3 Billion.
That uranium came entirely from high-grade deposits in Saskatchewan where uranium concentrations can run up to 100 times the global average.
Canada’s known resources of this uranium, more than 588,000 tons of elemental uranium at under $50 US a pound are enough to support continued production for at least 50 years.
Here’s the punchline. In 2024 Canada supplied 33% of all the uranium purchased by US nuclear reactors making us America’s largest foreign supplier of uranium. No there country in the world comes even close to supplying what we supply to the world and especially to American nuclear reactors.
All Canadian uranium production comes from Saskatchewan with downstream processing, refining, conversion, fuel fabrication happens in Ontario.
So, when people talk about North America’s nuclear fuel security they are really talking about a handful of mines in northern Saskatchewan and a couple of processing plants in Ontario.
Our own nuclear power facilities use only 10% of our domestic uranium production generating 81 terawatt hours of electricity in 2024 (about 13% of our total power generation). The remaining 87% of production is exported shipped primarily to North and South America at approximately 44%, Asia at 17% and Europe at 39% based on long-term commercial contracts.
So, Canada mines the uranium. Canada mills the uranium into yellow cake and refines it at the world’s largest commercial uranium refinery in Ontario Canada and converts it into Ontario Canada.
To self educated entrepreneur like me this stuff is straight forward! Yet all the educated people that we have been convinced are taking care of things apparently don’t get it!
But we don’t enrich it. Today, uranium mined and processed in Canada has to be exported to the US for enrichment before it can come back as usable reactor fuel. This is something that I’m confident Prime Minister Carney has already logistically worked out.
Our nuclear reactor fleet runs on Cando technology which uses natural unenriched uranium, so we never thought we needed an enrichment industry.
Most modern nuclear reactors and nearly all of the small modular reactors now being developed require enriched uranium as fuel, which means that we are sitting on the raw material for a global nuclear boom without the one piece of infrastructure needed to fully capture it true value.
The logical question is “should Canada build domestic enrichment capacity“? I’m looking into that and will keep you posted.
I will deliver the remaining nine of the top ten reasons that clearly prove Donald Trump’s claims of America “not needing anything Canada has” to be rather disappointing attempt at a bluff by a man who’s entire claim to fame was always his negotiating skills. This series will give you sufficient fact over bluster to be able to make your own decision on what it going on.
And please always remember my starting position as far back as 2015 which built up over the past dozen years that it is and has long been Donald Trump’s intention to take over Canada militarily.
Charles
