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Shares of Uranium Energy Corp (UEC), a uranium mining company, increased after Kazatomprom reportedly said it expects lower production in 2024 due to supply disruption, fueling concerns about tightening global uranium supply. Additionally, uranium prices have been rising recently as geopolitical risks have increased demand for non-Russian uranium and nuclear power is viewed more favorably due to energy security reasons. Recent report from Oilprice.com also argues that the current bull market in uranium sector is still in early stage and expected to continue with growing demand for nuclear power worldwide.