Australian news, and some related international items

Greed and stupidity in uranium investment world

You would think that investors would wake up to the hype!  The so-called “nuclear renaissance” is just not happening.

Even the market for nuclear weapons is now looking dodgy – these being no protection whatever from terrorists, (in fact  a target for them)

China is looking to slow down its economy.-  China’s supposed  great uranium binge is a BHP executives’ fantasy

There is  a glut of uranium supply, made worse by the weapons reduction program, which now supplies  uranium (mining not needed)

From today’s CTV News: Despite the low spot and term prices, uranium producers have shown almost no discipline by reducing current or planned output,”…Despite falling uranium prices, worldwide spending on exploration and mine development grew 133 per cent to $1.6-billion in 2008 from 2006″

In sunny Australia, passing up the chance to develop 21st Century renewables,  we are mindlessly letting banks, super funds etc,  put our money into this gaping hole of impending loss – the almost certainly doomed uranium industry.

July 22, 2010 - Posted by | Christina reviews, uranium | , , , , , , , ,

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