Hi John,
Rio also shuts the Ranger mine at the end of 2020. Ranger produced 2M lbs of U in the June half. This is not news, but it will contribute to a tightening of supply. Between Ranger and Rossing, that's a larger sized chunk than Langer Heinrich, which will come out of the market. Rio achieved a sale price of US$47/lb in the last quarter. Clearly as those contracts roll off, you can forget them signing new ones for the current LT price of $32/lb.
Cheers,
Tim.
Hi John, Rio also shuts the Ranger mine at the end of 2020....
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