The spot price for uranium has jumped by $US18 in a week, and is now at $US113 per pound. The price was paid for about 50 tonnes of uranium at an auction in the US.
The managing director of uranium company Toro Energy, Greg Hall, says the price has been affected by flooding at the Ranger Mine in the Northern Territory and also at a mine in Canada.
Mr Hall says the price highlights Australia's need to consider its role as a potential larger supplier to the international market.
"It reinforces the current debate that's going through the community on both sides of politics in terms of how Australia should participate in the global nuclear industry," he said.
"But most especially we should be reviewing our uranium supply into the global market." SOURCE: © 2007 Australian Broadcasting Corporation
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#1 The article about the uranium auction
Just a point of note: the auction of U3O8 last week was for a quantity of 100,000 lbs. of uranium at $113 USD. Mestina Minerals was the auctioner, but it would be great to find out who the buyer is. Anyone know?