Foreign Demand May Jeopardize Uranium Supply for U.S. Utilities

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We discussed with the Ux Consulting president from which countries future uranium supplies may come, and who is going after those supplies more aggressively. He warns about the risks and rewards of Kazakhstan and Mongolia, looks to Africa for supplies, and talks about Russias expansion.

StockInterview: How do domestic uranium prospects rate in the eyes of U.S. and foreign utilities?

Jeff Combs: I dont think that utilities expect the U.S. to be a major supplier of uranium. What youre seeing with China and other countries, where nuclear power is growing, is that theyre definitely looking to secure supplies. The Chinese are going to Kazakhstan and also Australia, where there are a lot of uranium reserves, a lot of potential for growth. I think theres some potential for growth in the U.S. But if you had a fast growing nuclear power program, I dont think the U.S. is the first place Id look. I believe that you can look for some opportunities in the U.S. But in general, the U.S. utilities are basically in competition with some of these newer entrants into the market for available supplies. Those are primarily outside of the U.S., as U.S. utilities also depend on imports...

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