Jun 24, 2010

Russian owners take over large U.S. Uranium supply - Nuclear Safe & Secure???

Businessweek / Bloomberg shareholders have nothing to fear from Russian state control.

"If you look at the amount of uranium that Rosatom has been shipping off to the United States and Canada, you can effectively say that a portion of America's lights have been kept on by Russia,"

"There were some concerns with having a controlling Russian shareholder," Jean Nortier, chief executive officer of Canada's Uranium One, said in a Bloomberg Television

PEAK URANIUM - Stockholders will benefit as uranium prices recover because demand will outstrip supply as the industry expands, Nortier said.

"The new supply that's coming in on the uranium side is not filling all these new reactors that are being built, so we're still operating in a supply shortage environment," Nortier said. "We need a significantly higher uranium price to actually fill that gap. We're certainly bullish on uranium prices going forward."

Read full at Businessweek / Bloomberg