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Sarasota, FL, United States, 2007/03/10 - According to one industry expert, the world’s third largest uranium producer could lose up to four million pounds of anticipated production during 2007 because of a recent cyclone in Australia’s Northern Territories. Current value of US$340 million.
The world’s third largest uranium producer, Energy Resources of Australia (ERA), could lose as much as four million pounds of production in 2007 as a result of recent cyclone and flooding damage, according to industry expert Dr. Gene Clark, chief executive of TradeTech. Dr. Clark evaluated photos of flooding at Ranger Pit 3 after ERA announced a ‘force majeure’ on its uranium sales contracts on March 5th. TradeTech publishes the weekly spot uranium price on Fridays through the nuclear industry trade magazine, Nuclear Market Review.
The loss of production could represent as much as four percent of the world’s uranium mining production in 2007, further pressuring the tight supply situation global nuclear utilities face. At the recent spot uranium price, the production loss has a current value of US$340 million.
Stockinterview.com is an online news service, which provides investigative reporting, editorial, analysis and provocative commentary of the nuclear fuel cycle, uranium mining, nuclear power, energy and the environment, biotechnology research and the natural resource industry. StockInterview.com is now the most popular website for uranium mining stocks as a result of its best-selling publication, “Investing in the Great Uranium Bull Market: A Practical Investor’s Guide to Uranium Stocks.”
The 304-page trade softcover edition of “Investing in the Great Uranium Bull Market,” is now available online or Amazon by visiting amazon.com
TradeTech, and its predecessor companies-NUEXCO Information Services, CONCORD Information Services, and CONCORD Trading Company, has supported the domestic nuclear fuel cycle (uranium) industry for more than 35 years, and is widely recognized for its expertise in trading activities and its comprehensive knowledge of the technical, economic and political factors affecting this industry. TradeTech provides expert market consulting, participates in the buying and selling of uranium products and services, and maintains an extensive information database on these industries.
After publishing the weekly uranium spot price indicator in the Nuclear Market Review magazine every Friday, TradeTech publishes the price indicator on the consulting service's website at uranium.info