15 Realising Australias uranium potential Australia is an under performer in the global uranium market Australia could perform at a much higher level generating more employment opportunities and more revenue for both the private and public sectors 3 Australia in the global uranium market Australia is the worlds third largest producer of uranium after Kazakhstan and Canada In 2013 according to the W orld Nuclear Association Australia produced 6350 tonnes of uranium By contrast Kazakhstan produced 22567 tonnes and Canada produced 9332 tonnes Global production that year was 59673 tonnes Kazakhstan has dominated a growing uranium market since 2008 Canadian production has been static while Australian production has declined Over the time global production increased 67 per cent Australian output fell 16 per cent Australias share of global production has halved from 213 per cent in 2003 to 106 per cent in 2013 Over than same period Kazakhstans production share increased from 93 per cent to 378 per cent These fgures contrast with Australias massive uranium reserves According to the OECD Nuclear Energy Agency and the International Atomic Energy Agency Australia held a 3174 per cent share of global Recoverable Resources at less than US130kgU in 2013 up from 232 per cent in 2003 By contrast Kazakhstans share of reserves fell from 167 per cent in 2003 to 77 per cent in 2013 T able 2 shows the Reasonably Assured Resources RAR at less than US130kgU for the top 10 countries in 2003 and 2013 Chart 1 Uranium production 2003 2013 T onnes 25000 20000 15000 10000 5000 0 Source World Nuclear Association 2004 2005 2003 2008 2006 2007 2009 2012 2013 2010 2011 Kazakhstan Canada Australia