Wednesday, April 13, 2005

Goldletter International Uranium Report

Via Peak Energy, a report on the uranium industry. The synopsis paragraph states
Uranium industry shows strong rebound with prices having tripled to more than $20 per pound U308 for the first time since 1984; shortage in supply will result in further price increase above $30
Thanks to mine closures, the release of government stores (some of which are tied to nuclear weapons conversion to peaceful purposes), high-quality, low-cost Canadian imports, and the systematic destruction of prospecting, uranium production in the U.S. has plummeted. Unanswered is the question about how the events at Three Mile Island and the Chernobyl disaster affected the industry, and whether U.S. production represents a geological limit or merely an economic one.