• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 4 hours Shale Oil will it self destruct?
  • 15 mins Berkeley becomes first U.S. city to ban natural gas in new homes
  • 13 hours Today in Energy
  • 4 hours Iran Captures British Tanker sailing through Straits of Hormuz
  • 4 hours Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 8 hours Drone For Drone = War: What is next in the U.S. - Iran the Gulf Episode
  • 2 days Mnuchin Says No Change To U.S. Dollar Policy ‘As of Now’
  • 2 days Populist, But Good: Elizabeth Warren Takes Aim at Private-Equity Funds
  • 24 mins Renewables provided only about 4% of total global energy needs in 2018
  • 2 days Migration From Eastern Europe Raises German Population To Record High
  • 2 days Washington Post hit piece attacking oil, Christians and Trump
  • 1 day Why Natural Gas is Natural
  • 24 hours LA Solar Power/Storage Contract

Fallout From Fukushima Rattles Australia's Uranium Mining Industry

The slow-motion Japanese Fukushima reactor debacle has sent ripples worldwide, with Germany, Switzerland and Italy all now deciding to exit nuclear power.

The downturn in European interest in nuclear energy has now impacted Australia, the world’s third largest exporter of uranium oxide after Canada and Kazakhstan.

There are currently five operating uranium mines in Australia producing roughly 10,000 tons of ore in 2010, worth over $1.6 billion.

Several uranium explorers listed on Australia’s Stock Exchange watched their share price fall following the 13 June Italian referendum rejected nuclear power, with both Paladin Energy and Energy Resources of Australia losing market value, the Sydney Morning Herald reported.

Toro Energy, Extract Resources, Marathon Resources, Marengo Mining and Bannerman Resources also lost market share, with many of the companies seeing their market capitalization more than halve since the 11 March Fukushima disaster began to unfold.
Toro Energy managing director Greg Hall nevertheless remained upbeat despite the bad news from Rome, telling reporters about the Italian referendum, ''It has a high impact publicly, and on the short-term perceptions of the market … but it has very little impact on long-term uranium supply; in fact, virtually none.''

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play