The Uranium Rush

Filed in archive Nuclear on March 30, 2007

You will love these words: Pandora, Uranium, Mining. Great combination, if I say so myself. It looks like a Vancouver Uranium Mine has recently been opened. The name of the uranium dig is, yes you got it right, Pandora. And there has been a lot of activity, including the reopening of Pandora, in terms of Uranium. An article from the New York Times says its not based on the revival of nuclear energy as an alternative to traditional fossil fuels, rather the interest in Uranium is because of very high prices for it today.

The reasons for the price spike are the drying up of Uranium supply from old Soviet weapons and the anticipated energy demand from China. Looks like the market will be bullish about Uranium for a long time, if you start counting China into the equation.