Within five years, there should only be enough secondary supplies to meet a quarter of the expected demand for uranium. Lack of aggressive exploration and falling inventory should keep the uranium market tight for several years.
The aggressive M&A activities in the metals market are likely to spill over into the uranium market (but because there are so few real producers, it should be more in the way of acquiring attractive projects from exploration companies).
Teck Cominco [TSX:TCK.B; NYSE:TCK] stated recently it may consider uranium acquisitions to benefit from a possible doubling of prices for the nuclear fuel.
“If there was some way into it where it makes sense financially, we’ll do it, because we like the prospects of the industry,” said Donald Lindsey, CEO of Teck Cominco.
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