Research / Market models

Living Maps of Civilization's Critical Markets

Building the most comprehensive bottom-up market models in the world. Starting with nuclear.

01 / Our Public Research

Finding the Sulphur Navoiyuran Needs: Russian Refineries in Ukraine's Crosshairs, Brazilian Fertiliser, and Uzbekistan's Biggest Uranium Competitor

In October, Boundless Discovery reported that sulphur availability and pricing will pressure Uzbekistan's uranium growth. Since then, we have looked everywhere its state miner, Navoiyuran, could source it from. The search led us to a Russian gas plant under drone attack, a Turkmen port shipping more sulphur west, and its biggest uranium rival, Kazakhstan, which now supplies nearly all of Uzbekistan's imports. In January, Kazakhstan declared the sulphur it sold to Uzbekistan priced at USD 48 a tonne. By August it was USD 516, and USD 563 delivered. At the delivered price, sulphur alone adds about USD 14 to each extra pound of uranium Navoiyuran produces, about a seventh of uranium’s spot price today.

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Nuclear / 20 Oct

Will Uzbekistan’s Uranium Ambitions Pass the Acid Test?

Uzbekistan is the uranium market’s wildcard. Output doubled in three years to 7,000 tonnes, and the government wants 15,000 tonnes by 2030, which would make it the world’s third-largest producer. That depends less on Navoiyuran, the state miner, than on a copper smelter, the country’s fertiliser makers, a sanctioned Russian oil company, and sulphur from a neighbour which owns Navoiyuran's largest competitor.

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Nuclear / 22 Sept

Who's Going to Fund Mauritania's First Uranium Mine?

The trail of intelligence behind why we think China's SNURDC are negotiating a deal with Aura Energy (AEE.ASX).

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02 / Global Micro

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Living Maps of Civilization's Critical Markets

Finding the Sulphur Navoiyuran Needs: Russian Refineries in Ukraine's Crosshairs, Brazilian Fertiliser, and Uzbekistan's Biggest Uranium Competitor

Will Uzbekistan’s Uranium Ambitions Pass the Acid Test?

Who's Going to Fund Mauritania's First Uranium Mine?

Structured model

Forensic-Grade Intelligence

Proprietary AI Systems

Intelligence, scoped to you.

Core Market Coverage

Bespoke Coverage

Delivered

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