Lucas de Lange reports for miningmx.com that uranium's star is shining increasingly brighter as it becomes clear that nuclear power is being seen as the best answer to the world's energy crisis. Latest predictions are that the uranium price could reach a new record level of US$50/lb within the next six months, according to de Lange.
The current price is about $39/lb, which should already be highly profitable when South Africa's listed uranium producers sxr Uranium One and Simmer & Jack get going.
Neal Froneman, CEO of sxr, says that the Dominion Reefs deposits that his group wants to mine should produce at a maximum cost of $18/lb. Simmers is in the beneficial position that the tailings dams of the old Buffelsfontein and Hartebeesfontein gold mines have significant quantities of uranium, which were dumped there because in years gone by it wasn't profitable to mine them due to low prices. It can be reclaimed at minimal cost. There's also underground uranium-bearing ore available.
Uranium could reach a new record level The uranium price increased by around 76% in 2005, which - with one exception, sugar - represents the largest single percentage increase in a commodity price. Strong growth is predicted, especially from demand from China and India, which have to provide more electricity for their industries due to their rapid economic growth.
The current price is about $39/lb, which should already be highly profitable when South Africa's listed uranium producers sxr Uranium One and Simmer & Jack get going.
Neal Froneman, CEO of sxr, says that the Dominion Reefs deposits that his group wants to mine should produce at a maximum cost of $18/lb. Simmers is in the beneficial position that the tailings dams of the old Buffelsfontein and Hartebeesfontein gold mines have significant quantities of uranium, which were dumped there because in years gone by it wasn't profitable to mine them due to low prices. It can be reclaimed at minimal cost. There's also underground uranium-bearing ore available.
Uranium could reach a new record level The uranium price increased by around 76% in 2005, which - with one exception, sugar - represents the largest single percentage increase in a commodity price. Strong growth is predicted, especially from demand from China and India, which have to provide more electricity for their industries due to their rapid economic growth.
