The value chain can be divided into several stages.

Mining: Uranium is typically mined from deposits that are found in the earth’s crust. There are several methods of mining uranium, including open-pit mining, underground mining, and in-situ leaching (ISL). The choice of mining method depends on the location and quality of the deposit.

Milling/Processing: After it is mined, the raw ore is typically sent to a milling facility, where it is crushed and processed to extract the uranium. This process generates several waste products, including tailings, which are stored in specially designed facilities. At an ISL mine, the pregnant uranium bearing concentrate will be sent straight to a processing plant, where uranium will be recovered and packed into drums as yellow powder.

Conversion: The extracted uranium is then converted into a form that is suitable for use in a nuclear power plant. This typically involves the production of uranium hexafluoride (UF6), which is a stable compound that can be easily transported and stored.

Enrichment: The UF6 is then enriched to increase the proportion of the isotope U-235, which is the fissile isotope that is used to generate electricity in a nuclear power plant. Natural Uranium always contains 0.711% U-235 with the remainder being the stable isotope U-238. The enrichment process involves separating the U-235 from the more abundant U-238 isotopes and creating a stream of enriched (typically 4-5%) products, while also creating a waste stream depleted in U-235, the so called ‘Tails’.

Fuel fabrication: The enriched UF6 is then de-converted into solid UO2, sintered into fuel pellets, and stacked into fuel rods, which are used to generate electricity in a nuclear power plant. The fuel rods are typically made of a ceramic material, such as zirconium, and are encased in a metal cladding.

Power generation: The fuel rods are loaded into a nuclear reactor, where the fissile uranium isotopes get hit by neutrons, which creates more neutrons and split the uranium. This process generates heat which is used to generate steam to power a turbine, which in turn generates electricity. The used fuel rods are removed from the reactor and replaced with fresh fuel rods.

Waste management: After the fuel rods have been used, they are considered radioactive waste and must be carefully stored and managed. There are several options for managing used fuel rods, including reprocessing and permanent disposal in a geologic repository.