Five entities spanning Kazakhstan's uranium mines, Russia's enrichment cascades, and next-generation reactor designs determine nuclear energy security, commodity prices, and proliferation risk.
Kazakhstan's state uranium miner supplies roughly 40% of global primary uranium, making it the single largest swing factor in world uranium prices.
full dossier ›Russia's state nuclear corporation is the world's largest exporter of reactor technology, holding a $200bn-plus foreign order book across 10 countries despite Western sanctions.
Uranium is the raw fuel of every commercial nuclear reactor, with Kazakhstan, Canada, and Australia controlling supply chains that underpin civil energy and proliferation risk worldwide.
The world's top uranium miner lifts production on the Budenovskoye ramp while holding nominal output ~10% below earlier plans
Spot prices stall on muted utility buying even as mine restarts slip and the long-term reactor-fuel gap widens