India, China to drive up uranium prices
The uranium industry's worst year is about to collide with a nuclear construction programme in India and China that rivals the ones undertaken during the oil crisis of the 1970s. The result is likely to be a 58 per cent rebound in uranium to $90 a pound from $57 now, according to Goldman Sachs JB Were Pty and Rio Tin-to Group, the third-biggest mining company. Uranium plunged 57 per cent in the past year as an earthquake damaged a Japanese nuclear plant that's the world's largest and faults shut down reactors in the UK and Germany.