The International Atomic Energy Agency predicted that uranium supplies in Russia and the U.S. may only cover 5% of the world's demand by 2015, according to Bloomberg. Chaitanyamoy Ganguly, director of the agency's nuclear fuel forecasts, said spot prices between $50 and $100 would encourage further exploration and production.
Cameco's CEO predicted at the Reuters Global Mining and Steel Summit in New York that a uranium supply crunch is imminent due to cuts to uranium development projects and uncertainty in Russia's plans to decommision its nuclear weapons. He stated that Cameco plans to take advantage of low valuations of uranium miners to make acquisitions and said Cameco would consider deals in the $1-2 billion range.
