Uranium Miners Need 25% Price Gain to Expand, Rio’s Beyer Says
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Uranium must rise 25 percent to give mining companies an incentive to start or expand projects outside of top producer Kazakhstan, said Clark Beyer, managing director of Rio Tinto Uranium Ltd.
His comments apply to uranium-oxide concentrate’s “long-term” price, defined as delivery in more than 24 months by Ux Consulting Co. The price is $60 a pound, UxC said Sept. 20 in its latest weekly report, compared with a 2010 low of $58.