• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 20 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days The United States produced more crude oil than any nation, at any time.
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 11 hours e-truck insanity
  • 4 days Bad news for e-cars keeps coming
  • 5 days China deletes leaked stats showing plunging birth rate for 2023
  • 7 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
U.S. Pushes to Triple Nuclear Energy Production by 2050

U.S. Pushes to Triple Nuclear Energy Production by 2050

Michigan Governor Gretchen Whitmer's plan…

Scientists Inch Closer to the Holy Grail of Clean Energy

Scientists Inch Closer to the Holy Grail of Clean Energy

Recent breakthroughs in nuclear fusion…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

This Key Uranium Player Is About to Shock The Market

This Key Uranium Player Is About to Shock The Market

Things appeared to be stabilizing in the global uranium market the last several months. With prices for the metal settling into a comfortable groove between $36 and $44 per pound.

But that peace could soon be shattered, according to reports from major nuclear player Japan yesterday.

The Japan Times reported that the country's key nuclear operator Tokyo Electric Power Co. (Tepco) is preparing to sell part of its uranium stockpiles. With documents obtained from the utility suggesting that more than 750 tonnes of uranium could be sold over the coming months. Related: Does Nuclear Power Deserve Such A Bad Image?

Tepco is considering the move in order to reduce costs associated with holding ever-growing uranium stockpiles. The company has not consumed any uranium since 2011, shortly after the Fukushima disaster resulted in a complete nuclear shutdown across Japan.

That stoppage has left uranium piling up in storage, as Tepco continues to take delivery of mine supplies purchased under long-term contracts. The company now holds 17,570 tonnes of uranium -- up from 16,805 tonnes prior to Fukushima. Related: Goldman Sachs Predicting $45 Oil By October

Tepco says it wants to reduce those stocks to pre-Fukushima levels. Implying that it could divest up to 765 tonnes.

That's equivalent to 1.69 million pounds of uranium. Or about 1% of yearly demand worldwide -- suggesting that this divestment alone shouldn't be a showstopper for prices. Related: Oil To Return To $80 With Or Without OPEC Cut Says Iranian Official

But Tepco also said it may take further steps to reduce its uranium stocks -- including terminating uranium purchase contracts it currently holds with miners globally.

Such a development would represent a significant reduction in demand. And might be enough to cause a drag on the global market.

The firm said it is looking to make all of these moves by the end of the fiscal year, this coming March. Watch for news about stockpile divestments, and purchase contracts cancellations coming soon.

Here's to clearing out the clutter,

ADVERTISEMENT

Dave Forest

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News