Uranium prices hit $75

Uranium prices have resumed their upward climb after an apparent five-week lull. The spot price for the fissile metal, the key component of atomic fuel, rose to $75 (U.S.) a pound in the week ended Monday, up $3, Ux Consulting Co. LLC of Roswell, Ga., said in a weekly report.

Uranium has been one of the hottest performers among commodities in the past several years. Its spot price has more than tripled since 2004, and a number of analysts expect it to approach the $100-a-pound mark this year. The metal does not trade on any public market, and Ux Consulting tracks prices by keeping tabs on private deals.

A key recent impetus for the upward climb was the flooding late last October of a massive planned Cameco Inc. mine at Cigar Lake, Sask., that, assuming it can be saved and brought on stream down the road, could churn out as much as 17% of annual world production.

- Uranium goes up to $75 while crude oil hovers around $57. That's interesting.

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