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Article: Uranium shines in rush for alternative fuel.
- Article from:
- Economic Times (New Delhi, India)
- Article date:
- July 6, 2005
CopyrightCOPYRIGHT 2005 The Economic Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Nidhi Nath Srinivas
Jul. 6--NEW DELHI -- Uranium is fast becoming the new gold as high oil prices make nervous governments reach out to alternative fuels for power generation.
The prices of the metal have quadrupled from 20-year lows in '00. But this may be 'only the beginning', warn observers. In the last eight weeks, the spot price of uranium has jumped many times to reach the highest level in 25 years.
Analysts say the market is so tight that the purchase of under 2m pounds of uranium by the Uranium Participation Fund -- which has a mandate to buy and store uranium for the benefit of its shareholders -- boosted the price by 20 ...