Uranium too low to incentivise new mines – Uranium One

By: Liezel Hill
17th November 2009

TORONTO (miningweekly.com) - Uranium prices will need to firm significantly to justify the development of many of the mining projects being considered around the world, Jean Nortier, the CEO of Vancouver-based Uranium One, said on Monday.

Nortier said he believes the market is underestimating the volume of uranium that will be needed to fuel new reactors being built or planned, especially in Asia, and overestimating the supply, both from mines and other sources, that will be available over the coming decade.

"In our view, current prices are much too low to provide the incentive needed to bring on sufficient new supply to meet the medium and long term demand for uranium," he said on a conference call.

Edited by: Liezel Hill

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