Research Shows Southern African Uranium Supply Will Grow

Mining Weekly reported that a research conducted by consulting firm, Frost & Sullivan has shown that the uranium production in Southern Africa will reach up to 21,260 t by 2016.

As quoted in the market news:

“Increasing foreign direct investment and the expansion of uranium mines in Southern Africa will result in production levels rising sharply in the medium-to-long term. Major international mining companies are making significant efforts to boost uranium production through the enhancement of expansion and exploration programmes in Southern Africa,” Frost & Sullivan mining research analyst Yeukayi Kadzere remarked.

Click here to read the full Mining Weekly report.

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Peninsula Energy (ASX:PEN) is set to be the ASX’s next uranium producer. Its flagship Lance Projects in Wyoming is headed towards production in 2015, with purchasing contracts secured for 2015 to 2024.

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