In a statement issued Tuesday, Energy Resources of Australia forecast that long term demand for uranium remains strong.

ERA, which is 68% owned by Rio Tinto, forecasts that demand will remain strong, despite recent weakness in spot prices.

Uranium long term market prices in September settled at $95 US dollars per pound. During the same period in 2006 prices were $54 USD per pound. Uranium prices have begun to rebound after 16 weeks of falling or flat prices.

TradeTech LLC reported Monday that spot uranium price rose $3 USD to $78 USD per pound. Spot uranium hit a high of $138 USD in June.

South Africa's Rand Merchant Bank (RMB) and AngloGold Ashanti (NYSE AU) are considering the sale of Nufcor International Ltd.

Nufcor is co-owned by the two entities and is in its 50th year of uranium production. Nufcor is the marketing agent for all uranium produced in South Africa.

Activists Pressure BHP On Uranium

A group of activist shareholders plan to pressure BHP Billiton to stop uranium production.

The group of shareholders is asking BHP to take a "moral stand" against the uranium trade.

The group, BHP Billiton Shareholders for Social Responsibilities, has received 60 signatures to support their measure. 100 signatures are needed to get the issue on the agenda of BHP's annual meeting next month.

"BHP Billiton's outstanding commercial success and market pre-eminence carries an equally large moral obligation to provide leadership on issues of uranium production and nuclear proliferation," the group's spokesman John Poppins told The Guardian newspaper.

"Claims that uranium is `carbon free' completely ignore the substantial carbon costs of its mining, processing, power station construction, protection and disposal."

You are invited to visit The New Uranium Thread on the ADVFN message boards.