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« Stock Trader Update 07 February 2014 | Main | UK nuclear experts to help decommision Fukushima »
Thursday
Feb062014

Uranium Industry Remains in Post-Fukushima Funk

URANIUM DEMAND RISING

As the third anniversary of the Fukushima Daiichi nuclear meltdown approaches, the atomic energy industry remains in flux.

The cleanup at the crippled plant will be going on for years but the fallout has also been international.

Germany shut its 17 nuclear reactors and lurched into a hugely ambitious move toward a renewables-heavy energy policy. This decision is still having huge ramifications for the country’s domestic power industry and the interests of its giant utilities across Europe. Switzerland and Italy also turned their backs on atomic energy.

This has been bad news for uranium miners. Prices of the heavy metal, from which over13% of the world’s electricity is generatedhave been scraping along near eight-year lows. Uranium is priced around 50% below pre-Fukushima levels and 75% off the 2007 all-time high.

But some countries, including the large economies of China, the U.S., India, South Korea, the U.K. and France, have all announced plans to build new reactors. Even Japan isconsidering restarting some plants, as its energy-import bill threatens to break the bank.


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