Uranium price recovery unlikely, Greenpeace says

There is no hope of a uranium price recovery this decade, Greenpeace International predicts. The environmental group recently released a report in Australia entitled “Uranium Demand, Supply and Prices: 1991-2000.” The report predicts uranium prices will remain “close to their current low levels in real terms” to the end of the century, based on supply and demand projections.

Spot prices of uranium have fallen to below US$9 per lb. Early in the 1980s, the mineral sold for more than $40.

Greenpeace funded production of the report in support of its campaign to halt development of new uranium mines in Canada and Australia. Author of the report is Ciaran O’Fairceallaigh, an economist at Griffith University in Brisbane.