By Andrew Nelson

Last week was slightly busier than what passes for normal these days on the uranium spot market. Deals were done, volumes were heavier and there were signs of new demand emanating from the broader market as buyers emerge to take advantage of currently depressed prices.

Local operator Paladin Energy ((PDN)) was a definite beneficiary of renewed interest in uranium supply last week. The company announced it would be handed $200m by a utility six years in advance of any delivery requirements and if delivery is eventually requested, the transaction will be done at the prevailing spot price.

The next bit of positive demand-side news came from the United Arab Emirates, with the country contracting for a 15-year supply of uranium and conversion/enrichment services from a Areva, Uranium One, Rio Tinto ((RIO)) , ConverDyn, Urenco and Tenex in a deal worth $3bn.