Real Uranium Price Should Be $120, Wits Prof Tells Conference
Source: miningweekly.com (3/10/08)
The current price of uranium would have to be $120/lb if it were to be economically equivalent to the price of two decades ago when uranium was in the doldrums, University of Witwatersrand School of Geosciences Professor Judith Kinnaird said on Monday.
Speaking at the International Quality & Productivity Centre (IQPC) uranium conference in Johannesburg, Kinnaird said it was, however, still trading far below that in the $70/lb range.
In outlining demand against a background of under supply, Kinnaird said that the 439 uranium-using nuclear reactors operating in 41 countries were currently producing 16% of the world’s electricity requirement.
Another 34 reactors were being built, 93 were on order or planned and 222 were being proposed.
“If the world is going to develop that number of reactors, it would need more uranium,” said Kinnaird, who is deputy director of Wits University’s Economic Geology Research Institute’s School of Geosciences.