Nuclear, the world realises this is the way of the future and AGS will benefit in the not to distant future, imho.
Recent editorial - news snippet from mining news -
By: Matthew Hill Published: 11 Mar 08 - 13:43 South African State-owned power utility Eskom's uranium consumption could increase by more than ten times to 4 000 t/y by 2025, from the current figure of 330 t/y as it planned to add 20 000 MW of nuclear generation capacity by that time, a company official said on Tuesday.
The utility currently only uses uranium to produce some 1 800 MW of power from two reactors at its only nuclear power station, Koeberg in the Western Cape, equating to about 5% to 7% of its total generation capacity.
Eskom would require between 3 000t/y to 4 000 t/y of U3O8, or yellowcake, by 2025, nuclear fuel manager Hans Lensink told a conference in Johannesburg.
It had plans to build five new nuclear plants by 2025, with the target to bring the first units on line by 2015/6, with the first new plant generating some 3 500 MW. These new power stations would bring nuclear's contribution to the firm's total energy mix to about one-quarter.
Eskom had invited bids from US firm Westinghouse and French company Areva, which built Koeberg, to build the first new power station, and said in February that it would select the preferred bidder by the middle of next year.
The Pressurised Water Reactor technology is preferred, given the fact that it is not only proved, but that China, Finland and France are currently deploying it, while the US has also signed agreements to restart a nuclear-energy construction programme.
AGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
