Uranium Miners Making News

Source:

"Global uranium consumption will rise from 69,000 tons annually. . .to about 285,000 tons by 2040"

While uranium spot prices are expected to remain flat for 2010 and into 2011, rising demand from the growing nuclear power utilities sector should benefit uranium prices over the long-term.

Unlike contract prices, spot prices are determined by demand from non-contracted utilities. "They've replenished their (uranium) supplies. So this year there won't be as much buying by utilities," said Patricia Mohr, senior commodities analyst with Scotia Capital Markets.

But Mohr sees uranium supply requirements for those utilities rising over the next several years and spot prices should rise as well.

TradeTech CE Gene Clark sees spot prices averaging between $40 and $60 per pound over the next few years.

Global uranium demand should quadruple over the next 30 years, Professor Barry Brook of the University of Adelaide told attendees at the Paydirt 2010 Australian Uranium Conference Monday. "Under this growth scenario, global uranium consumption will rise from 69,000 tons annually at present, to about 285,000 tons annually by 2040."

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