Uranium Miners Woes Continue 21 Months After Fukushima Disaster

Financial Post reported that Uranium business continues to struggle since the Fukushima nuclear facility crisis in March 2011. The spot price of Uranium has taken a dip to nearly US$40 per pound, from its US$135 per pound price in 2007.

As quoted in the market news:

“More than 21 months after Fukushima, the uranium business is still stuck in a rut. Uranium’s spot price has plummeted to nearly US$40 a pound (compared to a high topping US$135 in 2007), and there has been minimal activity in the spot market. Utilities are well-supplied with uranium for the foreseeable future, and, thanks to Fukushima, the outlook for demand growth is not nearly as healthy as it was a couple of years ago.

“The recovery in Japan has been slower than we expected,” Tim Gitzel, chief executive of Cameco Corp., acknowledged in an interview.”

Click here to read the full Financial Post report.