The major uranium suppliers of the 1990s

Between 1946 and 1990, the world uranium mining industry has experienced two complete boom/bust cycles. Each cycle has consisted of distinct and lengthy periods of expansion and consolidation, separated by a brief period of relative stability in the 1960s. Currently, the industry is in a consolidation phase with the strong getting stronger and the weak disappearing. A small number of producers have weathered this consolidation phase, and three have emerged as, and will likely remain, the major uranium producers in the 1990s. These three producers are: Cameco, Cogema, and RTZ. From an economic viewpoint, it is generally accepted that such a consolidation results in greater price stability. This stability derives partly from reduced competition, which would normally result in increased prices. Currently however, significant new suppliers are emerging, resulting in increased competition, which may limit any significant price rise. These key competitors are the Soviet Union, China, and the Australian producers. As a group, they represent additional strong supply participants which will compete for world market share with the new open-quotes Big 3close quotes of the 1990s