Saturday, June 25, 2011

Bullish predictions on uranium prices

An Energy Report interview posted on with Versant Partners Analyst Rob Chang says "in the long term, prices must rise due to a supply shortfall and the economic necessity of using nuclear power."

He attributes this to "61 reactors are under construction, already financed and moving forward. Another 25 Mlb. of uranium will be required to power these new reactors, which use approximately 400,000 lb. each. On top of that, 158 more nuclear reactors are planned, and 326 proposed. Even if only half are built, that's another significant demand for uranium when we already have a 45 Mlb. shortfall." [right, a billet of highly enriched uranium recovered from scrap processed at the Y-12 Facility in Oak Ridge, TN. U.S. Department of Energy, as posted on]

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