URANIUM PRICE EXPECTED TO REMAIN STABLE

Ulaanbaatar, /MONTSAME/. The spot price of uranium was likely to remain steady for the next two years, averaging between USD40/lb and USD60/lb, according to an analyst.
TradeTech CE Gene Clark has said uranium spot price enjoyed a strong rally between 2003 and 2007, rising from about USD10/lb to more than USD130/lb, before retreating to USD45/lb in October of 2008, as the global financial meltdown took hold.
During 2009, the price traded sideways, averaging around USD46/lb.However, 2010 held some promise of a modest recovery, as utilities - especially from Asia, where nuclear-energy programs were on the rise - came back into the market. The expansion of nuclear power would also increase demand for uranium and spur investment in uranium companies. For that reason, the price was expected to rise to between USD55/lb to USD65/lb in longer term.
S.Batbayar