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April 12, 2007

by Rebecca Bream

Uranium sector hots up

The worldwide revival of nuclear power has helped to push the price of uranium above $100 per pound, and the radioactive metal is currently quoted at $113 per pound, compared to $75 in February and $20 in 2004. The booming uranium price has triggered a wave of consolidation in the uranium mining sector; earlier this week UrAsia Energy approved a $2.9bn reverse takeover by fellow Canadian SXR Uranium One, and in Australia Paladin Resources on Thursday upped its hostile offer for Summit Resources by 20 per cent to $975m. Minesite.com  is running a good overview of this colourful battle, including the recent intervention of Areva of France, a possible white knight for Summit.

April 12th, 2007 in Mining, Nuclear power | Permalink

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