Toronto-based Uranium One, the world's fourth-largest uranium producer, looks to start construction of the Mkuju River mine in Tanzania once spot uranium prices appear likely to stay above $55 per pound, Chief Executive Officer Feroz Ashraf said in an interview.

Prices have not reached that level since May, 2011. Uranium currently trades around $32.15 per pound.

(Reporting by Rod Nickel in Toronto; Editing by David Gregorio)

By Rod Nickel

Stocks treated in this article : Paladin Energy Ltd, Areva