Nuclear Energy Renaissance Ignites Uranium Boom
Source: Reuters (3/27/07)
Uranium prices are closing in on $100 a pound -- a 10-fold increase in five years -- and prices could climb sharply higher yet as more governments embrace atomic energy despite dwindling supplies of yellow cake to power the reactors.
The spot price for uranium jumped $4 to $95 a pound (lb), according to weekly report from UxC, a leading publisher of uranium prices, a big leap from $60 in December and from around $9.50 in late 2002.
Years of under-investment in uranium mining caused by moribund prices and the anti-nuclear lobby has left the world short of the material used to fuel nuclear reactors.