(July 9 2012- GEOnomic Investing)
With the long-range prices for uranium starting to move up for the first time since the Fukishima nuclear disaster, analysts are warming up to uranium investments, seeing the long-term demand prospects as positive. Following the he earthquake and tsunami in February 2011, countries around the world idled their nuclear plans, sending the prices of Uranium crashing. Now, however; countries are stepping up to the plate to develop nuclear reactors.
In June , for the first time since the nuclear disaster, Japan restarted one of its nuclear reactors. The restarted reactor, which was in Ohi, Japan was restarted after the local government voted overwhelmingly, 11-1 to restart its two reactors.Globally, 63 nuclear reactors remain under construction and 97 new reactors are due to be built by 2021. Spot uranium has hovered around $50 per lb. over the last year; compared to the $70 per lb. it was before the Fukishima disaster.
Here is a list of the top 10 Uranium mining companies:
- Rio Tinto (NYSE:RIO)
- Cameco (NYSE:CCJ, TSE: CCO)
- BHP (NYSE:BHP)
- Uranium One (TSE:UUU)
- Paladin Energy (TSE:PDN)
- General Atomics
The world’s 10 largest uranium mines:
- Olympic Dam
- Rabbit Lake
*Ranking Data Compiled by Reuters