Antinuclear

Now use of weapons fuel sends uranium price plummeting

Greens welcome fall in uranium price,  Scott Ludlam  15th April 2010, The Australian Greens have welcomed this week’s fall in global uranium prices, due to a global peace deal to reduce nuclear weapons.“When world leaders sign off agreements to reduce their weapons arsenals the uranium market becomes flooded with weapons-usable nuclear fuel,” the Party’s Nuclear Spokesperson, WA Senator Scott Ludlam said….
“Warheads are converted into fuel for reactors and the price for uranium drops dramatically.

“This is what caused the uranium price to collapse in the past and we’re seeing the first signs of it this week with the latest deal between presidents Putin and Obama.

“There are more than 22,000 nuclear weapons around the world today and we have seen a significant drop in the spot price and in shares for Australian uranium miners this week due to a deal which is only affecting about 3,000 of these weapons,” Senator Ludlam continued.

“If President Obama stands by his commitments on further weapons reductions, it will be interesting to see what further impacts there may be on the uranium market when world leaders meet in New York in a couple of weeks’ time for further global nuclear non-proliferation talks.

“The greater the progress towards world peace, the better for Australian regional communities facing uranium mining on their lands.” Greens welcome fall in uranium price | Greens MPs

April 16, 2010 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business, uranium | antinuclear, Australia, enriched, nuclear weapons, uranium