Monday, November 14, 2005

UBS raises uranium price estimates

UBS raises uranium price estimates

NOV 11: Uranium prices during the next three years may be higher than forecast as the rising cost of crude oil and natural gas and increased environmental concern prompt countries to switch to nuclear power generation, UBS AG said.
Uranium prices may average $38 a pound in 2006, 41% higher than earlier estimated, UBS analysts Peter Hickson and Daniel Brebner said in a Nov 9 note. The price of uranium ore, used to fuel nuclear plants, has surged 62% this year to $33.25 a pound on Nov 9, according to Metal Bulletin.

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