OREANDA-NEWS. June 23, 2009. By the end of this year the uranium price may grow by 10%, says President of Atomredmetzoloto OJSC Vadim Zhivov.

TradeTech LLC reports that, presently, one pound of uranium costs \\$69 in USD contracts and \\$49 in spot contracts. “This year the price has already grown by 20%. I think that by the end of the year it will grow by 10% but then it will stabilize. Experts say that next year it will be \\$75 per pound,” says Zhivov.

Atomredmetzoloto OJSC (Uranium Holding ARMZ) is part of Atomenergoprom OJSC, a holing consolidating the civil assets of Russia’s nuclear industry. It is the key supplier of uranium for the Russian nuclear industry. In 2008 the company produced 3,687 tons at its facilities in Russia and Kazakhstan. ARMZ’s uranium reserves total 538,000 tons, the second place among the world’s uranium mining companies.