Distressed uranium company pins its hopes on nuclear power revival in Japan
Uranium Energy Cuts Output as Nuclear Fuel Prices Lie Low Bloomberg, By Gerrit De Vynck – Sep 5, 2013 Uranium Energy Corp which mines and processes the nuclear fuel in Texas, is cutting production as prices trade at a seven-year low…..Uranium spot prices have fallen 22 percent this year amid delays in the restart of nuclear plants in Japan following the March 2011 earthquake and tsunami. Last month, Cameco Corp. (CCO), the world’s third-largest uranium producer, dropped its projected sales volume from its German trading unit Nukem Energy GmbH to 8 million to 10 million from 9 million to 11 million pounds.
“This uranium price is tied to what’s going on in Japan,” said David Talbot, an analyst for Dundee Securities Corp. in Toronto. Once Japanese regulators approve more plant restarts, it will signal to the world to begin buying uranium again and the price will rebound, he said….. http://www.bloomberg.com/news/2013-09-05/uranium-energy-cuts-output-as-nuclear-fuel-prices-lie-low.html
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