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Uranium

Saskatchewan Uranium Exploration Activity

According to the Saskatchewan Ministry of Energy and Resources, total 2010 uranium exploration expenditures in the Athabasca Basin are estimated to have reached $96.5 million, a slight decrease from 2009 expenditures which were almost $108.6 million.

The spot market price of uranium fluctuated between January 2010 and December 2010 (US$40 per pound and US$62 per pound). The 2010 average spot price (US$47 per pound) is similar to 2009 (US$46 per pound). However, the increasing trend through 2010 was an indication of the increasing gap between world uranium supply and demand.

Many companies are currently exploring for uranium in the Basin. The majority of these companies are publicly traded and are operating in joint ventures with one or more other companies. Most of the activity is in the eastern part of the Basin where the major deposits are located. However, following new exploration successes, activity is increasing in the western portion of the Basin.

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© 2012, Saskatchewan Mining Association