Uranium price soars as Japan restarts nuclear reactors

FrieFrench

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Kyushu Electric Power Co. received final local approval last Friday to resume power generation at its Sendai nuclear plant in Kagoshima Prefecture. All reactors in Japan have been shut since the March 2011 meltdowns crisis at Tokyo Electric Power Co.’s ***ushima No. 1 nuclear plant.

The uranium spot price jumped 5 percent last weekend to $39.25 US per pound of U3O8. The trend continued this week with prices climbing to their highest level in 16 months but there are other factors besides Japan driving the uranium market higher, including the possibility of a supply deficit in the next three years.

The Solactive Global Uranium Total Return Index, which tracks 21 companies in the uranium mining industry, rose the most since December 2008. The index is still down 80 percent from its highest closing price in 2011.

Via Uranium price soars as Japan restarts nuclear reactors
 
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