No slow down in demand for uraniumJOHANNESBURG (miningweekly.com) – Western Australian uranium-miner Toro Energy on Monday said that the global demand for yellowcake would be driven by the continued improved use of nuclear energy, extensions to the operational life of existing reactors, and new reactors in the pipeline.
Speaking at this year’s
Paydirt Uranium Conference, Toro MD
Greg Hall stated that the commodities and equities markets needed to focus on the long-term uranium prices of $70/lb, as this was what long-term supply contracts were written on, not the spot price of around $44/lb, currently used for short-term buyers and sellers.
“Uranium demand will not ease, as there are currently 439 operating nuclear plants, 43 new plants were under construction by the end of 2008, and a further 106 are now planned or ordered. That means the key uranium deposits under resource evaluation, scoping, or feasibility study in Western Australia, have considerable upside for takeoff agreements.”