Mining Weekly reports  Uranium Energy Corp., (AMEX:UEC) CEO says uranium could reach $80/lb this year.

The market news is quoted as saying:

The price of the nuclear fuel plummeted by about 15% after the Japanese Tsunami caused radioactive leaks at the Fukushima-Daiichi plant, but it has now stabilised at around $57,50, according to US-based Ux Consulting.

The uranium spot price reached a three-year high of $73/lb in February as Chinese utilities started entering the market in earnest to supply their rapidly expanding nuclear reactor fleet.

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