Uranium Prices Hit Two-Year Low

Bloomberg reported stockpiles in Japan and Germany keep prices low and cause mining companies to defer new development as uranium struggles to make a comeback.

As quoted in the market news:

The price of uranium for immediate delivery declined to $47 a pound as of Sept. 17, its lowest in two years, according to Ux Consulting, a Roswell, Georgia-based uranium information provider. BHP Billiton Ltd. (BHP) and Paladin Energy Ltd. (PDN) have slowed or deferred development this year of some projects to produce the raw material in nuclear reactor fuel.

Click here to read the full Bloomberg report.