With thanks to - CEBonomics - On the Uranium thread - please...

With thanks to - CEBonomics - On the Uranium thread -

please have a read of the following because we may have finally hit the bloody bottom....

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Uranium and nuclear power
Jul 31st 2012, 11:41 by The Economist online

THERE is no shortage of uranium on the planet. According to a report form the OECD Nuclear Energy Agency and International Atomic Energy Agency (IAEA), identified resources should provide some 100 years’ worth at current requirements, and plenty more is likely to be discovered. But production has lagged and prices have risen. At its peak in mid-2007 uranium cost $136 per pound. Prices fell along with other commodities in the aftermath of the credit crisis. Unlike other commodities prices have not recovered, despite the promise of a nuclear renaissance. The spot price now stands around $50 per pound. Nuclear power suffered a setback as a result of the Fukushima disaster last year, which led to uncertainty over future demand for nuclear fuel. Cameco, a Canadian miner which produces 16% of the world’s uranium, recently announced a project in Western Australia was not worth pursuing at a price below $67 per pound as soaring costs continue to hamper the mining industry. But some analysts reckon prices will rise to $70 per pound by the end of this year, driven by demand from emerging markets. China, India, South Korea and Russia in particular are set for a big strong expansion of nuclear power. By 2020, China's installed nuclear generating capacity is set to treble. The OECD/IAEA reckon the world’s nuclear electricity generation capacity will grow by at least 44% by 2035.

http://www.economist.com/node/21559800