Uranium prices could hit US$80 a pound in 2012

Financial Post reports spot uranium could hit US$80.00 a pound in 2012.

The market news is quoted as saying:

Furthermore, in a projection of future nuclear power generation, Mr. Redstone and Mr. Hughes point to data from the World Nuclear Authority that forecasts generation to grow substantially by 2015. Although Japan is expected to see a slight dip in nuclear power output — to 44GWe from the current 47GWe — the rest of the world will see a combined increase to 416GWe.

“In our view, this moderate average demand growth is sufficient to sustain long-term prices of US$60/lb and to lift prices to US$80/lb in 2012.”

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