Comment 51303

By Undustrial (registered) - website | Posted November 09, 2010 at 17:02:29

Canada has plenty of dedicated uranium mines, and a good many are idle and have been for ages, due to low prices and having mined out the best ore. I have lots of family and friends around Elliot Lake, for instance. Kinda hard to believe that the price of raw uranium has been in the dollars-per-pound for decades, until the last few years. Compare that with what a few pounds of ENRICHED uranium is worth, and you'll see the issues with processing costs...

Oh, and it's now around $50. When oil spiked, it took a very similar jump up toward $140. Clearly, we can't rely on $10/lb uranium in a post-oil era.

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