Uranium Prices Range Bound
Source: Uranium Investing News, Dave Brown (6/14/10)
"Uranium industry and nuclear fuel cycle are entering a very important period"
Last week at the RBC Capital Markets Global Mining and Materials Conference, Cameco's Director of Market Planning and Analysis, Penny Buye exhibited confident forecasts for uranium investors, "We expect demand to be a little over 2 billion pounds of uranium, increasing from about 180 million pounds today to 233 million pounds by 2019, or almost 30% over the next 10 years. The increase in demand provides many opportunities. . .and is very welcome after the years of stagnant or decreasing demand." Further support for uranium was offered by comparing current supply sources to forecasted demand over the next decade. About 250 million pounds of new supply sources should be required as the drawdown of secondary sources will make up only a portion of the cumulative production deficit from existing mines.
The uranium industry is keenly anticipating the fifth annual AusIMM International Uranium Conference in Adelaide, Australia Wednesday and Thursday of this week. The primary focus of the program this year continues to be largely technically based and should cover mining, exploration, production, geology, processing, health, safety, indigenous relations, environment and nuclear safeguards. The conference promises to be worthwhile, as the uranium industry and the nuclear fuel cycle, as a whole, is entering a very important period and the theme for the 2010 event has been appropriately entitled 'The Decade for Development.'