Uranium mining is set to soar in the future due to rising demand for nuclear power, with Asia's colossal reserves looking set to meet these needs, according to natural resources expert GBI Research. The new report, suggests that mounting demand for nuclear power generation will boost uranium prices, offering to make Asia-Pacific a tidy sum, but only if they can overcome environmental and professional hazards. According to the Australian Bureau of Resources and Energy Economics and Sciences (ABARES), the spot price of uranium, which hung around the $62 per pound mark in 2011, will reach around $81 a pound by 2016 due to the massive surge in demand. The availability of huge reserves, coupled with rising prices, will drive the Asia-Pacific uranium mining industry.
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