|
|
Article: Mellow yellow: uranium. (mining companies plan large investments in new projects as uranium prices are as high as they have been since 1987)(Brief Article)
- Article from:
- The Economist (US)
- Article date:
- August 10, 1996
CopyrightCOPYRIGHT 1996 Economist Newspaper Ltd. 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)
|
MELBOURNE
IT LOOKS like grey sand. It is radioactive. And its price is going through the roof. Uranium has spent a decade in the commercial doldrums. By early August, however, the spot price of U3O8, the oxidised form in which uranium is commonly transported and traded, also known as "yellowcake", had risen to $16.50 a pound, its highest level since 1987 (see chart).
[TABULAR DATA OMITTED]
Uranium mines are starting to dust off expansion plans that have lain dormant for years. To the horror of environmentalists, Western Mining Corporation (WMC), an Australian group, has just announced plans to spend A$1.25 billion ($1 billion) expanding its Olympic Dam ...