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City AM: “uranium prices set to explode”
Paul Atherley, Managing Director of Berkeley Energia (BKY), is quoted in an article in this morning’s City AM reporting that uranium prices are set to “explode” in the coming years.
Paul is quoted saying: "We are about to see, in the next few years, the biggest ever deficit in the uranium market, because all the US and EU utilities will be recontracting and also competing with China's $570bn worth of expenditure on 65 new nuclear reactors."
Berkeley Energia’s (BKY) $100m uranium mine, with first production in 2018 and producing around 4.4 million pounds a year, will be ideally placed to feed in to this deficit.
The article goes on to comment that nuclear is an increasingly popular form of energy as countries move away from carbon-intensive forms of energy and are upping their nuclear power portfolios, with the US and many European nations eyeing up a roughly 20% slice of the overall energy mix coming from nuclear in the coming decades.
Security of supply is identified as a key concern in the article, given that much of the world's uranium comes from countries Kazakhstan and Niger. Berkeley Energia's project will be Europe’s only major uranium mine and will reliably supply long term customers from the very heart of the European Union.
For the full article please click here.
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