Rising uranium prices could mean a new dawn for miners, with more projects to join the likes of BHP’s Olympic Dam. Picture: Aaron Bunch/BHP One of the world’s biggest uranium miners has laid out a dramatic bull case for the nuclear fuel, while Australia’s next active uranium producer thinks inflationary pressures across the mining industry could send prices soaring as supply struggles to meet demand from utilities.
Boss Energy ( ASX:BOE ) managing director Duncan Craib, whose company plans to bring the restarted Honeymoon uranium mine in South Australia online in the fourth quarter of 2023, says a new incentive price of $US80/lb (the price needed to encourage companies to bring new production online) means an impending supply shortage facing Western utilities could get even more extreme as the next contracting cycle heats up.
In recent years the market has factored in an incentive spot price ranging from $US50-60/lb.
Spot prices […]
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