SYDNEY, July 8 (Reuters) - Australian uranium companies are set for a new era of growth as a deficit builds up in the global uranium market, Citigroup analysts said in a report on the sector on Wednesday. The firm's Australian mining analysts said a deficit was likely after 2012 due to delays in starting new mines and expanding existing projects, while less uranium was coming onto the market from secondary sources.
Citi expects the spot price for uranium oxide, or yellowcake, to edge up to $60 a pound (lb) in 2010/11 from a current spot price of $52/lb, although the price could move higher if there was further supply disruptions.
Click here for more on growth in the Australian uranium industry.
