It is diffiuclt to find too much that is negative about nuclear energy at the minute and the outlook for the industry cointinues to look rosier than in recent times. Uranium is hitting the news a fair bit of late with a few material transactions taking pace. The interst in nuclear sems to be there - I go back to my point about visibility and exposure for BMN as being a key determinant that may change significantly in the next 6-12 months as company developments dove tail nicely with increasing focus on energy and nuclear power. Examples of press below.
I think much or all of this information may have been reported on HC already but from different sources. What caught my interest was the spread of coverage and the nature of the messages / content of the articles:
Korea
"A consortium including Korea Electric Power, Hyundai Engineering, Samsung C&T, and Doosan Heavy Industries eventually won the contract in December. They'll build four nuclear reactors in the UAE for $20 billion... and earn another $20 billion to operate the plants for 60 years."
Local Korean commentary from the Korean perspective on the recent securing by Korea of a $20b deal to build 4 reactors in the UAE. I note with interest the "plan to turn Korea into a new export powerhouse of atomic plants by building 80 nuclear reactors worth $400 billion around the world over the next 20 years."
And from the other side of the fence...
Midle East
http://weekly.ahram.org.eg/2010/981/re9.htm
"The UAE signed a series of agreements with South Korea by which the latter will build and maintain four nuclear stations at a cost of $20 billion. The deal was signed during a recent visit of the South Korean president to the UAE. The Korean Electric Power Corporation (KEPCO), one of the world's leading nuclear power organisations, is in charge of the plan. KEPCO already operates 20 nuclear power plants."
"In launching a peaceful nuclear programme and keeping it transparent, the UAE aims to serve as a model for others. The UAE will be importing nuclear fuel via the open market and also selling any fuel it may produce."
"In the UAE, as well as in other Gulf countries, nuclear power would be of great help in desalination projects.
"The UAE is seeking to control its emissions of greenhouse gases. As it embarks on ambitious development plans, especially in Abu Dhabi, the country needs to develop clean energy sources. Demand on energy is increasing as the population grows and industry becomes more sophisticated. Electricity produced from nuclear power is 75 cheaper than that produced from gas."
"Despite uraniums lackluster performance over the last few years, 2010 holds promise as utilities and buyers from Asia, where nuclear power programs are on the rise, are expected to come back into the market creating much needed demand."
"According to a recent study by the Korean-based POSCO Research Institute, the nuclear power industry stands to benefit immensely from rising global energy demands and the push towards climate change legislation."
To say nothing of South East Asia - whose expected near to medium term demands have been well documented in previous posts. I like to think of BMN as a sleeping giant of sorts that will take on greater prominance into the future. Its adevanced stage of development and prosepects must at some point come to be recognised. Soon.
BMN Price at posting:
77.5¢ Sentiment: Buy Disclosure: Held
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