going to get smashed on the open, page-15

Japan, South Korea, Taiwan and China today operate 78 reactors. Over the next 15 to 20 years, they plan to build about 45 new reactors—17 of which are already under construction. When these 17 are completed, it will mean an increase of 16,000 MWe or about 7 million more pounds of uranium consumed annually.

Currently, the bulk of uranium consumption is in Western Europe and the US. China accounts only for two percent of global uranium consumption. But the increase in demand from China will be doubled or tripled over the next few years. The effect on oil prices of China’s expanding demand in 2003 and 2004 was amazing: crude oil prices suddenly experienced an immense surge. The same effect will also take place with uranium. Chinese industries uses incredibly large quantities of fuel. The global market cannot adjust fast enough to accommodate this and consequently prices are increasing. China is going to boost global demand for uranium and India and perhaps Russia and Brazil will follow suit within the next few years. It is evident that there will be a boom market in uranium for at least the next ten years, if not longer.