Spot prices of uranium yellowcake have risen by some 46% to around $30.2/lb ($66/kg) on international markets since the beginning of the year.

Prices have risen on growing demand in China along with supply concerns given a growing optimism that new nuclear build programmes will commence in the USA and Europe.

Global demand for yellowcake totalled about 67,000 tonnes in 2004, up 1.5% from 2003.