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Australia’s next uranium producer says the industry is “on the cusp of a new Renaissance” as nuclear utilities begin to engage with miners on the back of price spikes in the spot market.
Uranium miners have suffered from almost a decade of low spot prices that has seen investment leach from the sector.
Owners of nuclear reactors have been able to rely on low-priced material in the spot market to supplement their long-term contracts.That option is quickly closing up as feverish uranium buying from the North American-listed Sprott Physical Uranium Trust, hedge funds and mining companies has put a rocket under uranium prices.Dawdling in the low US$30s for each pound of yellowcake for most of the year, the price shot up to more than US$50/lb in quick time before hitting choppy waters a couple weeks ago.After sliding below US$40/lb it was back up to […]
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