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Tue April 10, 2012
A year after Fukushima meltdown, uranium prices level off
Uranium prices are leveling off around fifty dollars per pound; the stabilization comes after prices dropped considerably in the wake of Japan’s Fukushima Daiichi power plant meltdown.
The disaster one year ago caused uranium spot prices to drop from around $70 per pound to $50. However, experts say they expect the uranium market to be balanced once again in the next year.
Ken Vaughn of Cameco Resources, says unstable prices over the last year have not changed the company’s plans to open three, new in-situ uranium mines in the state.
"After Fukushima last year our senior management made the comment that we still had great faith in the long term future of the nuclear energy industry and that we're still committed to our goals of doubling our production by 2018. That remains true today." Cameco’s three new operations are currently winding through the permitting process.
In addition, Vaughn says they’re working on expanding their processing capabilities at the Smith Ranch – Highland facility which is already in operation – while another company, Peninsula Energy, is planning to start construction on a mine in northeast Wyoming.