Uranium set to benefit from a nuclear renaissance

The tide has most definitely turned in favour of nuclear energy - but where will the uranium required come from? Justice Litle looks at which uranium producers are best placed to profit from rising demand.

Cigar Lake, in Canada's Saskatchewan province, is home to one of the richest uranium ore bodies on the planet. At 232 million pounds of proven and probable reserves, the economic value of the find is nearly $14 billion by recent spot price.

Cigar Lake production was expected to save the day for hungry nuclear power utilities - 103 of which operate in the United States. The plan was to have 7-8 million pounds of production online by 2008, with as much as 18 million pounds a year not long after. Cigar Lake was expected to supply 50% of all new uranium production within five years.

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