Australian uranium production to rise

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Fri, Mar 6, 2009
Natural Resource Market News
Post by Melissa Pistilli, Resource Reporter

Uranium Investing News & U308.biz report uranium price has dropped over the past year but will likely recover in the next couple of years predict analysts.

In 2007, global uranium prices averaged $US99.30 per pound, dropping 38 percent to average $US61.80 per pound in 2008.

The downward pressure on the price last year was a result of hedge funds and investors liquidating uranium stocks to make up for losses in the equities markets. These actions drove the price down from about $64 per pound in August 2008 to $44 in October 2008.

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