RE: low volume = buying opportunityAgree... but most of long-term EFR shareholders may have loaded up already.
While numerous countries are talking/building new nuclear power plants, especially China (REALLY HOT there) & India, quite some oppositions to uranium mining have been heard. People want to benefit from the nuclear energy, but don't want uranium mining in their backyards. I was wondering where they will get uranium fuel to power their nuclear plants in the future if no new uranium mining is permitted OR no one is interested in investing in uranium exploration and mining.
Ironically even some Indians also oppose uranium mining in their backyard.
Cheers!
Peter
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Print This Post| Email This Page:Topic: Uranium — May 4th, 2008
Opposition to uranium mining in Meghalaya, India, may be dampened asThe Department of Atomic Energy (DAE) announced a “detailed whitepaper” on uranium mining, which would be presented to the MeghalayaAssembly. Mounting protests have put pressure on the government to takeaction as Meghalaya has 16% of India’s uranium reserves, totalling13,500 tonnes.
The Union Minister of State, Jairam Ramesh /www.business-standard.com/common/news_article.php?autono=321977&leftnm=3&subLeft=0&chkFlg=">had this to say:
“The central government will not do anything against the wishesof the government of Meghalaya or the public opinion of the state. Thisis a huge challenge and we will address it in a very transparentmanner. Most of our nuclear power plants are running at 50 per cent capacity due to shortage of uranium. Thisshortage is the reason why we are going for the Indo-US nuclear deal.Uranium from Meghalaya can help us feed our nuclear reactors to a greatextent.”
We draw your attention to this shortage of uranium! If thisstatement is correct then it tells us two things. Firstly, they havethe capacity to increase their energy production if they can secure asteady supply of uranium. Secondly, once they have finalised this dealwith the US a steady supply of uranium will be taken off the market. Asatisfactory conclusion to this situation with the protestors will gosome way to alleviating the pressure on demand for uranium, however itbodes well for uranium prices going forward, as India continues withits own industrial revolution.
The protests are based on the fear that uranium mining causescancer, a team of doctors and scientists from Mumbai’s Tata MemorialHospital are to be assembled in order to combat and allay the fearsthat the protestors have raised.
The nuclear industry needs to prove on a global basis that uraniummining and atomic power can be utilised without any adverse effects tothe population. We are constantly seeing protestors raise similarissues across the globe thus hampering the nuclear renaissance. Moreeffort is required to promote the safety aspects, environmental impactsand the benefits of nuclear power. A universal acceptance is neededotherwise its lights out for the uninformed!
Have a good one.
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