• 3 minutes Electric cars may make driving too expensive for middle classes, warns Vauxhall chief
  • 6 minutes Natural gas mobility for heavy duty trucks
  • 12 minutes Colonial pipeline hack
  • 8 hours U.S. Presidential Elections Status - Electoral Votes
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 13 mins Texas Power Outage Danger Until June 18th. Texans told to conserve energy!
  • 1 day Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 38 mins Will Liquid Metal Batteries Become the Standard for Large Batteries?
  • 1 day Federal Judge Says Biden Probably Wrong for Halting Drilling on Federal Land
Dave Forest

Dave Forest

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

More Info

Premium Content

This Small-Town Vote Could Be A Boost For Uranium

Another important step for the uranium market took place last week. With a key vote in Japan paving the way for the first restart of nuclear reactors in the country.

That came in the town of Satsumasendai, southwest of Tokyo. An area that hosts the Sendai nuclear power plant--made up of three reactors. All of which have been off-line since the Tohoku earthquake in March 2011.

But Satsumasendai's town council wants to change that. With a vote last week seeing 19 out of 26 council members vote in favour of restarting two reactors here.

Related: Here's A Firesale on $6 Billion in Energy Assets

Despite protests against the Sendai plant, the vote vas decisive--with only four council members voting against a nuclear restart. Three members abstained from the vote.

The decision is a key part of the restart process for the Sendai plant. Which received a positive safety evaluation from the Japanese Nuclear Regulation Authority in early September.

A potential restart here won't be immediate. With further safety checks still being required for the Sendai plant. The move must also go to a vote at the prefecture level (akin to a state government).

Related: LNG-Dependent Japan Tries To Gain Leverage Over Pricing

Assuming the plant clears those hurdles, it appears the two reactors here could come back online in early 2015. Which would be a historic event for both Japan's nuclear sector--and for the uranium market, where Japanese demand is a key driver for prices.

Of course, the lift in demand from just two reactors is likely to be minor. But a restart would be a symbolic victory for uranium--and could start an updraft in sentiment across the sector. Especially if it sets the stage for more reactors coming online next year.

Watch for final details on the Sendai safety checks, as well as the all-important prefecture vote. We'll then see about final timing for the restart here.

Here's to firing them up,
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