Uranium Industry Experiencing "Sustained Growth"

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Contract prices for uranium have risen to around $US90 a pound, from less than $US20 a few years ago, and "energy security and the response to climate change, have combined to provide highly favourable circumstances for the future development of the world’s uranium industry", according to a Deloite report commissioned by the Australian Uranium Association.

The uranium industry is experiencing a period of what is likely to be sustained growth, according to a Deloitte report commissioned by the Australian Uranium Association, which contends that if deregulated, yellowcake can play a significant part in Australia’s economic development, while helping the nation make a substantial contribution to the fight against global climate change.

Contract prices for uranium have risen to around $US90 a pound, from less than $US20 a few years ago, and "energy security and the response to climate change, have combined to provide highly favourable circumstances for the future development of the world’s uranium industry", the report says.

Australia holds around 36 per cent of the world's uranium resources, but regulatory issues prevent it from developing and leveraging those resources, with none of the governments in the four states (Queensland, Northern Territory, South Australia, Western Australia) that ban uranium mining moving to implement a new Labor party policy to allow the exploration of new uranium mines.

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