AXcess News: U.S. Uranium Miners Dig in on Prospects of Higher Prices

  
    
  
  
    
      International Atomic Energy Agency (IAEA) chief, Mohamed ElBaradei, told 
      U.S. Secretary of State Condoleezza Rice last week that steeply rising 
      global energy demands have heightened proliferation concerns which can 
      only be satisfied by new multilateral controls on the nuclear fuel cycle.
    
    
      ElBaradei pointed out that there were now 442 nuclear power reactors 
      operating in 30 countries - most in North America and Western Europe - 
      supplying about 16 percent of the world's electricity.
    
    
      But the IAEA chief said that the recent expansions have been primarily 
      in Asia and Eastern Europe; of 28 reactors now under construction, 16 
      are in developing countries.
    
    
      Despite proliferation concerns by the U.N. watchdog organization, the 
      demand for uranium is growing and most likely will run up the 
      commodity's cost.  According to the Energy Information Administration, 
      U.S. utilities loaded 58 million pounds of uranium into the country's 
      103 nuclear reactors in 2005. In the same year, domestic uranium miners 
      fell short on what the utilities required, only producing about 2 
      million pounds, AXcess News' James Fitch writes.
    
    
      According to uranium geologist David R. Miller, re-starting many of the 
      U.S. uranium mining projects abandoned over the past two decades could 
      produce more than 25 million pounds of uranium.
    
    
      Junior exploration and development miner Golden Patriot Corp. (OTCBB: 
      GPTC) agreed with Miller. Having acquired the past producing Lucky Boy 
      uranium mine in Arizona earlier this year, the New York-based mining 
      company is banking on higher demand for uranium ore to make its 
      once-profitable mine live up to its name - Lucky Boy.
    
    
      Golden Patriot reported last week that it successfully completed a 
      drilling program at the mine and was awaiting results of those assays.
    
    
      Brad Rudman, President of Golden Patriot, was quoted as saying, "The 
      next few weeks will be exciting for Golden Patriot's management and 
      shareholders."
    
    
      Note to Editors: "News Features" are stories provided to publishers 
      copyright-free for print or online display at no charge. All we ask is 
      that publishers include our byline (AXcess News) as the source, and a 
      link to our Web site: http://www.axcessnews.com. 
      If you are interested in displaying our news on a regular basis, please 
      contact our editorial department at: 775-841-5368.
    
  
International Atomic Energy Agency (IAEA) chief, Mohamed
ElBaradei, told U.S. Secretary of State Condoleezza Rice last week
that steeply rising global energy demands have heightened
proliferation concerns which can only be satisfied by new multilateral
controls on the nuclear fuel cycle.

   ElBaradei pointed out that there were now 442 nuclear power
reactors operating in 30 countries - most in North America and Western
Europe - supplying about 16 percent of the world's electricity.

   But the IAEA chief said that the recent expansions have been
primarily in Asia and Eastern Europe; of 28 reactors now under
construction, 16 are in developing countries.

   Despite proliferation concerns by the U.N. watchdog organization,
the demand for uranium is growing and most likely will run up the
commodity's cost.  According to the Energy Information Administration,
U.S. utilities loaded 58 million pounds of uranium into the country's
103 nuclear reactors in 2005. In the same year, domestic uranium
miners fell short on what the utilities required, only producing about
2 million pounds, AXcess News' James Fitch writes.

   According to uranium geologist David R. Miller, re-starting many
of the U.S. uranium mining projects abandoned over the past two
decades could produce more than 25 million pounds of uranium.

   Junior exploration and development miner Golden Patriot Corp.
(OTCBB: GPTC) agreed with Miller. Having acquired the past producing
Lucky Boy uranium mine in Arizona earlier this year, the New
York-based mining company is banking on higher demand for uranium ore
to make its once-profitable mine live up to its name - Lucky Boy.

   Golden Patriot reported last week that it successfully completed a
drilling program at the mine and was awaiting results of those assays.

   Brad Rudman, President of Golden Patriot, was quoted as saying,
"The next few weeks will be exciting for Golden Patriot's management
and shareholders."

   Note to Editors: "News Features" are stories provided to
publishers copyright-free for print or online display at no charge.
All we ask is that publishers include our byline (AXcess News) as the
source, and a link to our Web site: http://www.axcessnews.com. If you
are interested in displaying our news on a regular basis, please
contact our editorial department at: 775-841-5368.