https://media.marketwire.com/attachments/201301/56000_Clipboard01.jpghttps://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=986828&ProfileId=051205&sourceType=1 NEW YORK, NY -- (Marketwire) -- 02/18/13 -- The Fukushima disaster in Japan dealt a major blow to the Uranium Industry as many countries began to abort nuclear plans shortly after the incident, sending prices for uranium plummeting by as much as 40 percent. Two years after the disaster japan finally looks ready to embrace nuclear power once again. The Global X Uranium ETF (URA) has rallied over 7 percent year-to-date. Research Driven Investing examines investing opportunities in the Uranium Industry and provides equity research on Denison Mines Corp. (NYSE: DNN)(TSX: DML) and Uranium Energy Corp. (NYSE: UEC).
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A revival in Japanese demand could provide a major boost for struggling uranium prices. Before the incident Japan's annual uranium demand was approximately 20 million pounds, but have since fallen sharply as only 2 of its 50 nuclear reactors are online. Global demand for uranium is currently about 177 million pounds, according to Cantor Fitzgerald analyst, Rob Chang,
"There's a huge push for the restarts from industry, big electricity users, government and the utilities themselves," said David Sadowski, a Raymond James analyst. "And if you look at recent polls, even people in the towns around the nuclear plants, the ones who would be affected the most, are actually supportive of bringing them back online."
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Denison Mines is a uranium exploration and development company with interests in exploration and development projects in Saskatchewan, Zambia and Mongolia. The company last month announced it will acquire a portfolio of uranium exploration projects from Fission Energy Corp. Shares of Denison have gained over 7 percent year-to-date.
Uranium Energy is a U.S.-based uranium production, development and exploration company operating North America's newest emerging uranium mine. The company recently reported an inferred resource of 4.6 million pounds U3O8 grading 0.296% at their Slick Rick project located in San Miguel County, Colorado.