| Since bottoming out at US$28 a pound in May, uranium prices have climbed 35%, becoming the one commodity that seems to be resisting the broad selloff. The surge, analysts agree, is due mostly to China’s increased reliance on nuclear energy and renewable energy sources as it moves away from coal-fired plants. But prices are still far from the point that would allow mining activity to pick up again, they warn.
“There’s some movement but I don’t think uranium prices are going to break out of the stalls in near-time,” says Matthew Keane, mining analyst with Argonaut in Perth Australia told Financial Times..............................................Full Article: Source
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