Uranium price up with global nuclear push

Foreign investors are driving up the value of Australian uranium stocks amid increased world demand for nuclear power.

As spot prices of dirty greenhouse fuels such as oil and coal fell dramatically in December, uranium prices rallied to six-month highs.
The rollout of fourth generation nuclear power stations in China, India and Europe has placed a floor under spot and long term contract prices.

Governments around the world are embracing nuclear power as part of their efforts to lower greenhouse emissions.

After sliding to a three-year low of around $US40 a pound in early November, the uranium spot price has soared more than 30 per cent to $US53 a pound.

Herald Sun