Published 5:26 AM, 28 Jul 2011 Last update 7:44 AM, 28 Jul 2011, Business Spectator
QUICK SUMMARY | FULL STORY | BHP | RESOURCES & ENERGY
Analysts are predicting that BHP Billiton Ltd will delay uranium production at the Olympic Dam mine expansion in South Australia as a result of the Fukushima nuclear disaster in Japan and ensuing uncertainty about the future of nuclear energy, according to The Australian.
Olympic Dam, home to the world's largest known uranium deposit, is scheduled to be expanded beginning next year as part of a $US20 billion-plus ($A18.4 billion) expansion that is subject to company and government approval.
However, plans to boost uranium production by a third from current levels may be halted as uranium demand continues to weaken in the wake of the Fukushima nuclear disaster.
Deutsche Bank analyst Paul Young produced a detailed report saying he expects BHP to maintain current uranium production levels until well into the next decade, according to The Australian.
Hopefully this might help to keep the price of Uranium up.
EXT Price at posting:
$7.93 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)