nuclear-news

Uranium mining industry now facing a gloomy future

Canada’s Cameco, the world’s biggest uranium miner by market value, has seen its share price tumble 48 per cent since the beginning of March.

A drop in supply may also be met by a drop in demand, according to UxC. “The reduction in uranium demand will extend to the longer term as some of the reactors taken offline will be permanently shut down,” it says in its report. “In addition, other new reactors under construction or planned will likely be delayed, leading to a further reduction in demand.”….

Uranium miners hamstrung by price and demand By William MacNamara, FT.com November 16, 2011  The uranium industry, suppliers of the fuel that powers nuclear plants, is processing a few hard numbers.

These start with the benchmark spot price for uranium. Since the Fukushima disaster in March, when the price was hovering about $70 per pound, uranium has fallen to a range of $50-$55 per pound. The costs of extracting uranium are rising, and lower prices are affecting producers’ profitability and plans to invest in future supply.

Another is 14. That is the number of nuclear reactors in Japan and Germany that were shut down permanently after the Fukushima disaster in March, taking their uranium demand with them.

Then there is the share performance of the top producers. Canada’s Cameco, the world’s biggest uranium miner by market value, has seen its share price tumble 48 per cent since the beginning of March… for an industry that was expecting to thrive amid a global nuclear renaissance, the short-term outlook has darkened.

November 17, 2011 - Posted by Christina Macpherson | 2 WORLD, business and costs, Uranium