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Lower deman for uranium is forecast

Uranium One cuts demand forecast by 8%-10% TORONTO Mining Weekly, 9th August 2011 – Canada’s Uranium One has cut its demand growth projections for uranium for its namesake product by 8% to 10% over the next decade,…..

Last month, Australia-based Paladin Resources cut its 2012 uranium production guidance to 7.4-million pounds and 7.9-million pounds from the previous forecast of 8.2-million pounds, mainly because of delays to its stage-three expansion at the Langer Heinrich mine in Namibia.

This was followed by an August 4 announcement by uranium’s perennial under-performer, Rio Tinto’s Energy Resources of Australia, that it had nearly halved the reserves at its Ranger mine……

Yellow cake prices dropped to $49/lb from around $66/lb in the immediate wake of the Japanese disaster, and have since settled at about $52/lb.–

August 11, 2011 - Posted by | business and costs, Canada, Uranium

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