Australian news, and some related international items

Investors rush – away from uranium stocks

The disaster at Japan’s Fukushima Daiichi power plant following the March earthquake and tsunami has essentially killed investor enthusiasm for uranium stocks……The other uranium stocks are all miners, but if there is no support for new nuclear development, then the value of these stocks will drop as well. Aside from early comments supporting nuclear power, the US has been non-committal, whereas Germany and Italy have both indicated that no new nuclear plants will be built and, in Germany, existing plants will be closed over the next decade or so.

USEC Shares Collapse on Loan Worries (USEC, URRE, UEC, URG, URZ, URA), August 5, 2011, Paul Ausick, The sole US provider of low-enriched uranium fuel for nuclear power plants is in serious trouble. USEC Inc. (NYSE: USU) shares have fallen more than -12% this morning and posted another new 52-week low on concern that the company’s loan guarantee from the federal government will not be approved in time to prevent USEC from running into liquidity problems.

Every US company involved in the nuclear fuel business is getting beaten up this morning. Continue reading

August 6, 2011 Posted by | Uncategorized | Leave a comment

Hiroshima Day anti nuclear protests in Australia

Australians in nuclear protest at Hiroshima events, Straits Times, SYDNEY 7 Aug 11, – “..Australians turned out on Saturday to rally against nuclear power following Japan’s Fukushima reactor crisis, at events to commemorate the atomic bombing of Hiroshima during World War II.

Denis Doherty, from Australia’s Hiroshima Day Committee, said about 400 people turned out to mark the 66th anniversary of the Hiroshima strike in Sydney and there were similar events at major cities across the nation.

Mr Doherty said the event saw its biggest crowds in several years and had special relevance, given the ongoing nuclear crisis in Japan which was triggered by March’s earthquake and tsunami.

‘I think people are coming to the realisation that (nuclear) is not the answer to climate change,’ Mr Doherty told AFP.

‘On all sorts of levels I think something is dawning, and if not it should be.’ Mr Doherty said the Fukushima incident had rattled the world, evoking memories of Hiroshima with images of ‘ordinary people’ suffering. ‘People are starting to think, the cost of 30 years of electricity – was it worth giving a whole lot of people radiation-induced cancer and destroying large sections of Japanese countryside?’ he said……..

August 6, 2011 Posted by | General News | 1 Comment

Radiation and the children of Fukushima

Hiroshi Ueki, 40, a former kindergarten worker, moved his wife and two sons, aged one and four, to Matsumoto in the mountainous prefecture of Nagano, 280 kilometres away.

Remembering family life in their home town, he said, “everyday I used to tell my sons: ‘Don’t touch this. Don’t eat that. Don’t take your mask off’.”

“When we got to Nagano, my son was still asking me: ‘Dad, can I touch this flower? Can I touch that car? Can I play in the rain?’ When I heard him say that, I was almost crying.”

Japanese parents live with radiation fear, Google News, By Shingo Ito (AFP) 6 Aug 11, FUKUSHIMA, Japan — Parents living near Japan’s crippled Fukushima nuclear plant are facing a nightmare dilemma: evacuate their children or live with the fear that radiation will make them sick.
Continue reading

August 6, 2011 Posted by | Uncategorized | Leave a comment

Australia’s Liberal Party would shut down Climate Change Department

Climate change department for chop: Hockey,  THE AUSTRALIAN, Sid Maher ,August 04, 2011 OPPOSITION Treasury spokesman Joe Hockey said last night he would consider disbanding the Department of Climate Change if the Coalition were to win the next election.

Mr Hockey, appearing on the ABC’s Lateline program, had been asked about the Coalition’s plan to cut 12,000 public servants’ jobs in a bid to rein in budget spending and went on to single out the department.

Mr Hockey attacked the accuracy of modelling carried out by the department in relation to the government’s carbon tax…………..This came after Climate Change Minister Greg Combet was challenged by advocates to put nuclear electricity generation on the table as Australia debates the best ways to produce low-emissions power and cut carbon pollution by 80 per cent by 2050….


August 6, 2011 Posted by | AUSTRALIA - NATIONAL, climate change - global warming, politics | | Leave a comment

Alexander Downer’s plan for a radioactive South Australia

You’ve got to hand it to  former Liberal MP Alexander Downer.  In a week when everyone else is respectfully remembering the Japanese victims of Hiroshima and Fukushima,   – or at least tactfully shutting up about Australia’s involvement in the nuclear industry there – Downer comes out with blatant marketing of the nuclear industry. – C.M. 

Downer: Nuclear power makes cents – Alexander Downer, The Advertiser, August 01, 2011…..we could build a nuclear power station. Just imagine replacing the Northern power station at Port Augusta with a nuclear power station which would be pollution free. The uranium would come from just up the road at Olympic Dam, it could be enriched at a new enrichment plant at, say, Whyalla, the waste could be stored at the world’s safest location for long-term storage, near Woomera…..

To me, it all makes perfect sense.

If we were really ambitious, we would use these facilities to make the world a safer place….”

August 6, 2011 Posted by | marketing for nuclear, South Australia | | Leave a comment

China dropping uranium imports as nuclear industry’s future in doubt

Uranium imports in marked decline, Energy industry waiting for new plan following Japan nuclear crisis, By Liu Yiyu (China Daily) 3Aug 11, Beijing – Imports of uranium slowed during the first half of this year, amid industry uncertaintycaused by Japan’s Fukushima nuclear crisis.

China imported 5,356 tons of uranium in the first six months of 2011, a 13 percent year-on-yeardrop, according to figures released by the General Administration of Customs.In the corresponding period last year, China imported 6,065 tons of the nuclear fuel, 2.5 timesthe amount for the previous year.

In 2010, China tripled its uranium imports from 2009 levels to 17,136 tons.

The slowdown suggests that uranium importers, including China National Nuclear Corp and

China Guangdong Nuclear Power Group (CGNPG), are still uncertain about the industry’sprospects before

the central government issues the revised nuclear development plan, XuYing, industry analyst at Donghai Securities, said.

China suspended approvals for new nuclear projects following the Fukushima accident inMarch and launched a six-month long national nuclear facility safety check in April…..

August 6, 2011 Posted by | Uncategorized | Leave a comment