Antinuclear

Australia’s uranium industry dream bubble about to burst

AUST URANIUM STOCKS CONTINUE TO SLIDE, Business Spectator, 15 March 11, Reuters Shares in Australian uranium miners fell further as Japan’s nuclear crisis deepened and several countries said they would reconsider their position on nuclear power.

Shares of Paladin Energy Ltd were down 3.8 per cent in early trade while Energy Resources of Australia Ltd, a unit of global miner Rio Tinto Ltd fell 1.6 per cent.

Extract Resources, which owns the Husab project, a promising 257-million pound resource that borders Rio Tinto’s Rossing mine in Namibia, dropped 4.7 per cent.

On Monday, ERA shares fell 12.2 per cent, Paladin lost 16.5 per cent and Extract dropped 7.7 per cent.Shares of Cameco , one of the world’s biggest uranium producers, slumped nearly 13 per cent in Canadian trade on Monday while Uranium One, Canada’s second-largest producer, tumbled nearly 28 per cent…..http://www.businessspectator.com.au/bs.nsf/Article/Uranium-miner-shares-continue-to-tumble-EXV9G?OpenDocument

March 15, 2011 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business, uranium