Strong Growth Predicted for Uranium as Global Energy Demand Could Rise 50% by 2030
Source: Mineweb.com (5/20/08)
A detailed study on energy issues released by Southern Cross Equities has painted a strong growth pattern for uranium for nuclear power and assumes that if uranium mine production grows only by the current 3% per annum then the shortfall in 2030 could be 30,000 tonnes based on China's unrelenting growth continuing.
,br>Southern Cross said the unprecedented structural increase in commodity demand "has coincided with decades of under-investment in productive capacity.
The Sydney-based broking house cited Kloppers' reported statement that current energy supply "is fully utilised" that has resulted in higher prices that are "structural rather than cyclical."
"The significance of this comment should not be under-estimated. We believe this represents a genuine endorsement of our ‘stronger forever' commodity view," Southern Cross' review said.
The report said there is little doubt energy, water and food are globally scarce and that the security of supply for these vital commodities will become a major issue for governments world-wide.