Uranium Stocks Set to Rock

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

Date posted: 07/17/14

Tim Boreham in Melbourne, reports that it was long forgotten in favor of graphite, rare earths, potash and even nickel, the uranium sector has received its best news since the March 2011 Fukushima disaster sent the sector into meltdown. Not that local uranium stocks were emulating the stricken plant by blowing their tops off this morning. Japan National Regulation Authority has given approval for two reactors at Kyushu Electric Sendai plant to be restarted, signalling the revival of more of Japan 48 reactors. Pre-Fukushima, Japan was one-third reliant on nuclear energy and was entering its first (northern) summer without this energy source. At $US28 a pound, the spot uranium price is languishing at its lowest level in nine years. Most supply deals are via long-term contracts, which currently average around $US45lb. This is still well off the industry accepted break-even price of circa $US60lb for a new project.