Uranium to Recover as China’s Nuclear Plans Offset Fukushima

Bloomberg.com reports on the uranium sector to recover in the long term.

The market news is quoted as saying:

“The question is whether what happened in Japan with older-generation reactors justifies not building newer, safer reactors, and to me the answer is no,” Spencer Abraham, a former U.S. energy secretary who is now non-executive chairman of Areva SA, the largest nuclear-equipment producer, said in a May 17 telephone interview from Washington. “China recognizes they can’t satisfy the growth in electricity demand in a single dimension and they really need a diverse group of sources.”

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