Energy Market Sees Uranium Return as Japan Considers Nuclear

Bloomberg reported that uranium is set to rebound from another annual decline with Japan considering reviving its atomic plants and China moving ahead with its nuclear building program, which is the biggest in the world.

As quoted in the market news:

A revival in demand from Japan is raising the prospect that supplies of the radioactive metal will shrink at the same time as China continues with a project to increase its nuclear power capacity at least fivefold by 2020. That’s a boost for uranium producers such as Perth, Australia-based Paladin (PDN) Energy Ltd. It’s also a blow for liquefied natural gas exporters including Qatar and Australia, which have helped plug Japan’s power shortage since the earthquake that led to the meltdown at the Fukushima Dai-Ichi plant in March 2011.

Click here to read the full Bloomberg report.

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Peninsula Energy (ASX:PEN) is set to be the ASX’s next uranium producer. Its flagship Lance Projects in Wyoming is headed towards production in 2015, with purchasing contracts secured for 2015 to 2024.

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