TORONTO (miningweekly.com) – Namibia-focused uranium project developer Forsys Metals believes that the price of uranium would top $83/lb by 2014 as nuclear power producers vie to secure long-term supplies.

Forsys CEO Marcel Hilmer on Friday told Mining Weekly Online he expected the price of uranium oxide (U3O8) to spike in the near term, as the current global supply of U3O8 was already significantly below the demand of about 170-million pounds a year.

The company is developing the Valencia and Namibplaas uranium projects, in Namibia, and Hilmer pointed out that the timing of advancing the projects was of critical importance, placing the company in a position to capitalise on the expected upturn in demand for the radioactive yellow product.

“I do not know of any other commodity, which could at the least, expect a 60% increase in demand,”

 

Good luck to all