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Supply constraints point to uranium rebound

Steel News - Published on Mon, 18 Apr 2011

Reuters reported that uranium prices and shares in uranium miners have fallen since Japan\'s Fukushima crisis clouded the future of nuclear energy, but these could rebound as uranium supplies are not enough to meet global demand.

Mr Amir Adnani CEO of Amex listed miner Uranium Energy Corporation saids that \"Supply and demand fundamentals don\'t tell us we should be writing an obituary for the industry any time soon.\"

Mr Adnani who was visiting Switzerland said that sentiment is bad now because of events, but nuclear energy still has an important role in the 21st century. As the crisis around the Fukishima Daiichi reactor unfolds, many countries have begun to re examine their nuclear policy. Switzerland has a moratorium on nuclear new builds while Germany has closed for three months all reactors opened before 1980.

Mr Adnani compared the nuclear industry\'s situation now to that of oil companies after the Gulf of Mexico oil spill which prompted a moratorium on deep water drilling. He said that there\'s a reason why nine months after the oil spill they have resumed drilling. Knee jerk reactions are not going to translate to sustainable long term energy policy.

He added that although Japan had decided this week to raise the severity level of the Fukushima accident to the highest level of 7, radiation leakage at the Chernobyl accident of 1986 was far higher.

(Sourced from Reuters)

Posted By : admin on Mon, 18 Apr 2011
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