Tuesday, July 26, 2005

Uranium Production below Consumption

Resource Investor - Blog - Uranium rush hits Colorado and Utah:

In western Colorado and eastern Utah, where salt wash deposits and sandstone hold uranium ore, there's a scramble on for mining claims, a demand for processing facilities and a clamor for miners.
More than 8,500 mining-claim permits have been filed in eight uranium-rich Colorado and Utah counties this year, according to records compiled by The Denver Post.
China and India are leading a worldwide push for more nuclear power with ambitious plans for new power plants. President Bush wants to increase the 20 percent of U.S. power produced in nuclear plants.
The 435 nuclear reactors in the world, including 104 in the United States, need 180 million pounds of uranium annually, but only 100 million pounds have been produced in recent years. With that growing demand, if no new supplies were mined, domestic uranium would run out in three years. "


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