Price of Uranium Expected to Rise

TEMELIN, CZECH REPUBLIC - AUGUST 11: An electricity pylon stands in front of the four cooling towers and two reactor blocks of the Temelin nuclear power plant on August 11, 2011 near Temelin, Czech Republic. CEZ, the Czech, state-owned energy company that operates Temelin, plans to expand the number of reactors at the plant from the current two to four. Westinghouse, Areva and Atomstroyexport are all vying for the project worth $27.8 billion, and a winner is to be announced before the end of the year. CEZ CEO Martin Roman also confirmed the company's hope to raise its electricity exports to Germany as Germany shutters its own 17 nuclear power reactors in coming years, a possibility that irritates German anti-nuclear activists. 
National Journal
Add to Briefcase
Clare Foran
Oct. 7, 2013, 3:37 a.m.

When an earth­quake and a tsunami hit Ja­pan’s Fukushi­ma Daii­chi nuc­le­ar-power plant in 2011 caus­ing a melt­down, the price of urani­um plummeted. Now that’s set to change, Bloomberg re­ports.

Al­though na­tions like Ja­pan and Ger­many are shift­ing away from nuc­le­ar power and have closed down a num­ber of nuc­le­ar-power plants, emer­ging nuc­le­ar mar­kets in China and oth­er coun­tries will cause a spike in de­mand likely to send prices soar­ing. 

“New nuc­le­ar plants will sig­ni­fic­antly boost de­mand in com­ing years, even tak­ing in­to ac­count the phas­ing out of Ger­man plants,” said Olivi­er Wantz of Areva SA, the second-biggest pro­du­cer of urani­um in the world. “We see first a sta­bil­iz­a­tion of prices, with the start of a pick-up as soon as 2014.”

×
×

Welcome to National Journal!

You are currently accessing National Journal from IP access. Please login to access this feature. If you have any questions, please contact your Dedicated Advisor.

Login