URANIUM 1.02% $24.70 uranium futures

spot price 51.50/lb, page-6

  1. 5,800 Posts.
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    That article is almost misinformation...

    Germany had only just recently started reversing its previous anti-nuclear stance, and was not long into the process of recommissioning its nuclear power plants. So, the announcement of Germany "closing all 17 nuclear power stations" is a bit misleading. All they're doing is reverting to the status quo.

    And this was done for the purely pragmatic reason of appeasing the Green Party, to keep Merkel in power - she is in a similar situation to Gillard - the Greens are needed to keep her in power.

    Also, the timetable for the nuclear switch-off runs up to 2022, which gives 11 years for a lot to happen, including change of government, change of mind, and most importantly - the realization that they cannot generate enough power themselves to satisfy the growing needs.

    The irony, therefore, is that Germany will once again have to purchase electricity from the grid next door - in France. And France is 80% nuclear (with no problems). So, for the perceived reduction in Germany's uranium usage, one has to add in the INCREASED demand that France will need. In fact, France are increasing their nuclear power generation capabilities close to the German border specifically for this purpose.

    Germany accounted for less than 5% of the world's uranium demand, so the loss of this over 11 years, but with the extra need added back in from France, means that the German decision and announcements mean almost nothing.

    It's all about sentiment - but the existing 443 nukes around the world, plus the 60 or more that are currently being built or planned, will STILL need to get their uranium supplies from somewhere...


 
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