Antinuclear

Paladin Uranium CEO predicts boom in uranium, especially for Japan

Paladin pins hopes on new Japanese govt, SMH, Kim Christian From: AAP November 22, 2012 URANIUM miner Paladin Energy hopes a new Japanese government will decide to restart the country’s nuclear reactors, as the price of uranium hovers around two-year lows.

Chief executive John Borshoff said that despite the shutdown of nuclear power stations in Japan after the Fukushima nuclear disaster, some reactors were now coming on line.

“We are confident that these will start coming back, working in the fleet in 2013, particularly with the change of government,” Mr Borshoff told the company’s annual general meeting in Perth on Thursday…..

He said that in order to meet worldwide demand, 15 to 30 mines would need to be built this year, an impossible task.

Paladin recently announced it will slash costs by up to $US80 million ($A76.97 million) and cut some staff after putting a freeze on development due to the weak uranium price. The company on Thursday reiterated production guidance for fiscal 2013 of between eight million pounds and 8.5 million pounds.

Shareholders on Thursday approved the company’s 2012 remuneration report, with seven per cent of votes cast against the 2012 report that showed Mr Borshoff earned $3.4 million, up from $2.5 million in 2011.
http://www.heraldsun.com.au/business/breaking-news/paladin-pins-hopes-on-new-japanese-govt/story-e6frf7ko-1226522231616

November 22, 2012 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business, uranium