The precious metal is building on gains from earlier in the week, triggered mainly by escalating geo-political tensions in the Middle East and North Korea’s nuclear test.
David Talbot of Dundee Capital Markets forecasts uranium demand growth of about 6% compounded annually through 2020, which ought to be more than enough to kickstart depressed U3O8 prices.
The last time the weather event was present, it wrought havoc on the mining industry in Australia, with thermal and coking coal mines in Queensland hit by flooding from cyclones and heavy rain.