Uranium price prospects not looking too good
Oz Uranium Sector ninemsn Money 14/12/2009 3 By Chris Shaw The spot uranium price is now US$45 per pound, which is down 5% from 3-month ago levels and compares to a spot price of US$52.50 per pound as at the end of last year. Prices rallied in October as an incident at the Olympic Dam mine saw a jump in the spot price to US$49.50 per pound, but this level has failed to hold.
Given the incident is likely to take about two million pounds of uranium out of the market by the first quarter of 2010 thanks to lost production at the project, industry consultant Resource Capital Research (RCR) suggests the current price weakness is a little concerning for uranium prices going forward.
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