Reuters reported Denison Mines (TSX:DML,NYSE:DNN) said it will start developing its uranium mine in Zambia once the price of yellowcake rises about $65 a pound.

As quoted in the market news:

The spot uranium price UX-U3O8-SPT has languished at just above $50 a lb for the past year, falling from around $70/lb after an earthquake and tsunami in February 2011 crippled the Fukushima plant, leading to the closure of Japan’s 50 reactors and souring sentiment elsewhere for nuclear power.

Click here to read the full Reuters report.