Australia expects uranium windfall

Toronto News.Net
Thursday 9th July, 2009

A report on uranium has stated Australia should be in line for strong profits when an expected deficit builds up in the global uranium market.

Australian mining analysts have said a deficit is likely after 2012 due to delays in starting new mines and expanding existing projects.

Expansion plans have already been started by BHP Billiton, the owner of the Olympic Dam project, which is anticipating high demand from China.

Olympic Dam contains about one-third of the world's known uranium.

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