Uranium demand predicted to rise

Uranium demand predicted to rise

Sunday, August 13th 2006

Market analysts believe the overseas demand for uranium yellowcake could rise to unprecedented levels in the next decade.

Patersons Securities stockbroker David Johnson predicts the growing shortage of fossil fuels and the pollution caused by coal could result in a boom in nuclear energy.

He says the huge Chinese market may become a key customer for Australian uranium to meet its growing energy needs.

“China is growing rapidly – it’s very much faster than the rest of the world and they require huge quantities of energy to achieve that,” Mr Johnson said.

“They have to increasingly turn to nuclear energy to generate the electricity that’s required and on that basis you could see very rapid growth for uranium.”

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