Uranium spot will double in 1-3 yearsUranium One prediction
Excerpt: . . . high-cost uranium mines will not survive competition and will be closed down, Uranium One chief executive Chris Sattler told journalists at a briefing in Moscow.
Uranium One - a step away from becoming a 100-percent unit of the Russian nuclear corporation - is betting on a price surge in the mid-term, hoping to boost revenues, Sattler said.
"The reason is that, according to industry expert UxC, 50 percent of global production just doesn't make money at the current price level", he said.
The shuttering of some high-cost mines would squeeze global supplies and result in prices rising to around $60 per pound in 1-3 years, according to Sattler.
He added that prices would also be boosted once around 24 million pounds of secondary uranium is removed from the market under the U.S.- Russian Megatons to Megawatts Programme, which winds up this year.
Full article: https://www.reuters.com/article/2013/08/20/russia-uranium-idUSL6N0GL25U201308