Price for uranium grown on spot market
22/07/2008, Kazakhstan Today
Almaty. July 22. Kazakhstan Today - Prices for uranium have grown for the last month on the spot market, according to consulting companies TradeTech Uranium Information and The Ux Consulting Company. August and September futures for uranium have also risen at New York commodity exchange-raw NYMEX.
Merrill Lynch notes that the present prices for uranium are low; therefore, some uranium mines can become unprofitable.
Demand for uranium in 2008 can grow by 0.8 %, the analysts of Deutsche Bank AG forecast. The first wave of increase of demand will be due to the developing economy of China, India and other Asian countries, Bloomberg informs. International Energy Agency supporting reduction of emissions of hotbed gases calls upon the countries to construct nuclear stations. According to the agency, 32 atomic power stations a year should be built in the world to reduce emission of hotbed gases twice by 2050.
According to Bloomberg Agency, leading manufacturers of uranium last year were Canada, Australia, Kazakhstan, Russia, Namibia and the Republic of South Africa.
Africa provides significant part of world production of uranium continuing building of open cast mines causing huge damage to the environment.
According to the forecast of Goldman Sachs, JB Were Pty and Rio Tinto Group, prices for uranium will considerably grow up to the end of 2008.
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