A significant portion of global uranium production comes from geopolitically sensitive regions, such as Kazakhstan and Niger. Recent events like the coup in Niger have raised concerns about potential supply disruptions, further tightening the market. There have also been production cuts with major uranium producers like Kazatomprom and Cameco have cut production forecasts, citing issues like securing sulfuric acid, which is essential for uranium processing. This has further exacerbated the supply crunch. Stable uranium production crucial Additional factors have also spurred the uranium market, with speculative investments leading the charge. The rising uranium price has attracted speculative investment, which can add further volatility to the market and drive prices higher. In parallel, inventory drawdowns of existing uranium inventories have been declining, creating additional upward pressure on prices.