Macquarie Bank invests in uranium
Going nuclear: Australia’s Macquarie buys Deutsche uranium book -source By David Sheppard LONDON, Oct 21 (Reuters) – Australian investment bank Macquarie Group has bought Deutsche Bank’s uranium book, a source familiar with the matter said, as the increasingly commodities-focused lender pushes deeper into global energy trading.
The deal includes Deutsche’s long-term trading contracts and stockpiles of low-grade uranium yellowcake, which were valued at the end of last year at around $200 million.
Industry experts say they comprise enough uranium to fuel around 10 average-sized nuclear power plants for 12-18 months………
Trading firms hold uranium stockpiles in warehouses specially licensed to store the fuel, like U.S. conglomerate Honeywell International Inc’s ConverDyn facility in Illinois; Cameco’s Port Hope facility in Ontario; and Areva SA’s facility in France. http://www.reuters.com/article/2014/10/22/macquarie-uranium-commodities-idUSL6N0SH3PN20141022
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