Surging Uranium Demand, Supply Constraints Fuel Predictions Of Record Price Increases

© Reuters. Surging Uranium Demand, Supply Constraints Fuel Predictions Of Record Price Increases Benzinga – by Stjepan Kalinic, Benzinga Staff Writer.

The price of uranium recently hit fresh highs, surpassing $100/lb for the first time in years. This positive development, which prompted Denison Mines (DNN) to restart the McClean Lake mine in Canada, could just be the beginning of a long trend.

As demand for nuclear fuel keeps growing, analysts are scrambling to set price predictions, speculating whether it can surpass 2007 highs.

"Even though the price is broken out to $100, there’s a lot of opportunity here because you need to basically double production globally between now and 2040," said John Ciampaglia , CEO of Sprott Asset Management , which runs the $6.5 billion Sprott Physical Uranium Trust (OTC:SRUUF).In an interview with Crux Investor, he forecasted a surge to $160/lb this year from the current $106/lb, stating, ‘It’s going to have […]

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