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Vol 47 No 23

Published 17th November 2006


Digging a black hole

As the oil price soars, nuclear power is back in fashion and the uranium to fuel it booms, the speculators get to work

The quoted price for uranium was recently just US$8 per pound. Now it is above US$60. David Miller, a geologist and market analyst, reckons that could double until new uranium projects start production. The race is on to open mines in Africa, with final approval awaited for four or five in Namibia and a large one in Malawi. Other schemes are mooted in South Africa, Niger and Congo-Kinshasa.

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