Antinuclear

Uranium industry casting around for ways to save itself, in declining market

HOW TO CURB DECLINING URANIUM PRICES http://www.namibian.com.na/letters/full-story/archive/2013/april/article/how-to-curb-declining-uranium-prices/ Martin Harris
URANIUM prices have suffered a significant decline since the Fukushima nuclear disaster in Japan.
The drop in prices has had a global affect on operations for many companies. In Namibia this can be seen from the pending retrenchment of workers at Rössing Uranium Mine and the upcoming temporal closure of Trekkopje Uranium Mine.
Namibia is ranked among the top five producers of uranium in the world, alongside Kazakhstan, Canada, Niger and Australia. Together the above mentioned countries account for more than 50 percent of world production. To get the best out of our uranium reserves, an OPEC-style trading block should be considered. Russia and South Africa, the world’s two major platinum producers are in the process of implementing such a block. Creating such a market regulatory body similar to OPEC will curb the over-supply of uranium and hence increase direct price control.
Namibia can take the initial step and spearhead the formation of such a block. This would allow top uranium producing countries to influence the market and hence prevent future retrenchments, mine closures and will result in Namibia getting the best out of its resource.

April 6, 2013 - Posted by Christina Macpherson | Uncategorized