part of article from mine web--SINOHere is the last part of an article printed today by MineWeb.IRC`s Doug Silver a well repected commodities strategist wrote about Uranium.Mention`s Sino`s thirst for uranium.
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"Don't think for a minute that the uranium fad is over," despite lower metals prices, Silver asserted." He noted that the commodity has "a huge place in future society" because the world has a "huge need for [clean] power." He advised that miners "could see a rebound in the uranium prices very quickly."
Silver joked that Cameco may have to switch to ISL mining at its Cigar Lake uraniummining project because of its recurring problems with water flows into the mine shafts. "My read on it is Cigar Lake is toast," he declared.
In the meantime, Silver urged miners and mining investors to pay attention to the massive growth plans recently announced by GE Capital, GE Energy and other related subsidiaries. Clean technology, including nuclear power plants, is a massive business for GE Energy, which also has the technology and best products to fulfill U.S. dreams of oil independence.
GE Energy is also the only U.S. company that builds power plants, and will probably be entrusted within building new power plants in this country.
The Chinese government is now shooting for 50% more nuclear power than it originally targeted, a development which could benefit companies such as GE Energy and GE Capital. As China continues to ramp up its nuclear power plant construction program, nonetheless, the nation lacks sufficient high-grade uranium reserves, and mining production has been inefficient.
The Chinese Nuclear International Uranium Corporation (SinoU) is developing up a mine in Niger and is investigating prospects in Kazakhstan, Uzbekistan, Mongolia, Namibia and Algeria. Canada and South Africa are also seen as potential suppliers for SinoU. China is also hedging its bets with long-term Australianuranium contracts.
In summation, Silver urged mining professionals not to panic and to "hang in there" because "there's a lot of money still out there" for investment in new mining projects.
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