TD Newcrest sees uranium at $90/lb in 2013

Mining Weekly(Editorial) reports uranium prices will climb to $90/lb by 2013 says  Greg Barnes, TD Newcrest analyst.

The editorial is quoted as saying:

Addressing the Prospectors and Developers Association of Canada (PDAC) Toronto convention, Barnes said the recent slide in price was the result of speculation that China would sell 800 000 lb of uranium on the spot market, and the US energy department’s announcement that it would continue a programme to sell the nuclear fuel to fund the cleanup of contaminated sites.

He saw neither of these as credible threats to the uranium market, saying that Chinese demand would rise to 40-million to 50-million pounds a year by 2020 – about one-fifth of predicted global demand by that time.

Click here to access the entire editorial.