Wednesday, January 22, 2014
Uranium was first discovered by Klaproth in 1789 and made popular by Fermi in 1934 when he used it in nuclear weapons. Demand for the element increased after the 1973 oil crisis and by the 90s, uranium demand overtook supply. As the trend continued, uranium prices jumped from $20 per pound to $60 per pound between 2005 and 2006. Supply was expected to increase as companies accelerated mining to boost their stock prices. This, coupled with the liquidity crisis in 2007, caused uranium prices to tumble to $45 per pound by 2010, and companies which were formed just to capitalize on the uranium bubble went bust.
Read More : Uranium Bubble