Canada on the Path to Global Energy Superpower Status: Uranium Exports, CANDU Reactors, and New Technologies

Currently, Canada generates 15% of its electricity from 17 CANDU heavy-water nuclear reactors using natural (unenriched) uranium. Twelve CANDU reactors have been exported to the Republic of Korea (4), Romania (2), India (2), China (2), Pakistan (1), and Argentina (1). Further expansion of the production and export of CANDU nuclear reactors is anticipated.

With the goal of becoming a global energy superpower, Canada intends to double its uranium exports by 2035 through the commissioning of new uranium mines. Of the uranium produced, 10% is used domestically and 90% is exported. The majority of Canada’s uranium exports go to the United States. U.S. nuclear facilities are almost entirely dependent on imported uranium, with Canada being the largest foreign supplier. Canada also exports uranium to European countries such as the United Kingdom, the Netherlands, Germany, and France. In February 2026, a long-term uranium supply contract was signed with India.

The Strategy provides for a twofold increase in annual private investment in nuclear research and development by 2032; the creation of fourth-generation microreactors based on innovative technologies by 2035; and their use in the country’s Arctic territories, where Indigenous peoples reside.

Author: Doctor of Economics, Professor of the Department of World Economy and World Finance, Financial University under the Government of the Russian Federation Larisa Germanovna Chuvakhina.