Australian Uranium Export Earnings to Spike

Source:

"Earnings from Australia's uranium exports are expected to jump by a quarter this financial year."

Adelaide Now, Cameron England

Earnings from Australia's uranium exports are expected to jump by a quarter this financial year.

Australia's Bureau of Resources and Energy Economics said earnings were expected to increase 24% to about AUS$756M, with volumes to increase 7% to 7845 tonnes.

This would be driven by an increase in production at the Ranger mine in the Northern Territory, and the anticipated start up of the Honeymoon mine in South Australia, which is expected to produce 400 tonnes per year.

The uranium spot price is expected to firm by 21% to US$57/lb. for 2011, and by a further 10% next year. . . View Full Article

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