February 18, 2012

VIDEO - Strathmore CEO David Miller: Uranium Prices to Surge

Published on Saturday February 18 2012 (AEST)

Uranium prices are due to surge as supply cannot meet demand, and that's even without factoring in new power plants coming on line, says David R. Miller, CEO and director of uranium miner Strathmore Minerals, which produces uranium in Wyoming and in New Mexico.

Furthermore, oft-touted power sources like natural gas and alternative energy have their setbacks as well, and soon the world will wake up to the clean attributes of nuclear energy.

"There are 440 operating nuclear power plants and there are 62 more under construction. The existing fleet consumes 180 million pounds of uranium per year. The existing miners produce about 140 million pounds a year. So there's a shortfall right now before we turn on one more nuclear power plant," Miller told Newsmax.TV in an exclusive interview.

Expect supply to fall at least in the U.S., when Russia halts uranium sales in 2013 when a contract expires.

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