In today's BRW; "Australia's uranium industry could triple in value within a decade, to be worth $2 billion a year. BHP's Olympic Dam's ore reserves are staggering. Proved reserves are 71,000 tonnes of uranium, with probable reserves of another 321,000 tonnes (before a $4 billion expansion plan). BHP also owns the Yeelirrie deposit in WA. The deposit has indicated reserves of 52,000 tonnes, but it may be larger."
The spot price of uranium is just under US$30 a pound. At the beginning of 2001, it was US$7.25. The greatest likelihood is that there will be a rise of another 20%."
On the LME, uranium spot price has gone up to US$29.85 a pound from US$29.50 last week.
