Uranium market to improve in long-term
Jarrod Lucas, Kalgoorlie MinerNovember 22, 2012, 9:50 am
Uranium market to improve in long-term
Analysts expect uranium prices to improve in the long-term as Toro Energy develops its proposed $280 million Wiluna mine.
WA’s first uranium mine is still two steps away from being a reality after receiving final State environmental approval last month, four years after the Liberal Government lifted a ban on uranium mining.
Independent Investment Research senior analyst Claire Aitchison said uranium demand was supported by 63 new reactors under construction, 18 reactors undergoing power capacity upgrades and anticipation of further Japanese reactors coming back online following the Fukushima disaster.
Ms Aitchison expects Toro shares, trading at 11.5 cents yesterday, to improve to 14.4 cents.
However, she warned another disaster like Fukushima would have a significant impact on the nuclear industry, while increasing construction and mining costs due to labour shortages would affect the Wiluna project.
“Given the high leverage to the uranium market, a fall in uranium prices will have an adverse impact on the company’s revenue once producing or the event of a significant and sustained fall in prices may render the project uneconomical to develop,” she said.
The World Nuclear Association says there has only been a small fall in operating and anticipated world nuclear generating capacity since Fukushima.
http://au.news.yahoo.com/thewest/business/a/-/national/15445582/uranium-market-to-improve-in-long-term/
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