Uranium Mining in Hungary

Financial Times reported Hungary is preparing to open a uranium mine.

As quoted in the market news:

Hungary’s is not the first name that springs to mind when you mention uranium mining. Back in the bad old days of communism, in fact, the Magyar People’s Republic produced plenty of the stuff – or at least the “yellow cake” ore that, on further processing, yields uranium oxide (U308), one of the ingredients of nuclear fuel rods.

Now, with uranium prices around $150 a kg – about ten times what they were when mining ceased in 1997 – Budapest has promised to enter a joint venture with Australia-based Wildhorse Energy (WHE) to examine the viability of restarting mining in the Mecsek Hills near the city of Pécs.

Click here to read the full Financial Times report.