nuclear-news

Centennial Project – uranium mining’s poor prospects

(USA) Powertech pauses uranium mine Company: Nuke disaster hurt industry, Centennial Project, Coloradoan.com , Apr. 27, 2011“…..The March 11 Tohoku earthquake in Japan and nuclear meltdown at the Fukushima Dai-ichi nuclear power plant that followed sent uranium prices plummeting….. “This is about as bad a story as you can imagine for the U.S. nuclear power industry,” said Charles Mason, True Chair of energy economics in the economics and finance department at the University of Wyoming, who is writing a book about uranium exploration and its impacts. “It certainly is bad news.”

Once it became clear the quake would lead to prolonged nuclear disaster, nuclear industry forecasters started to predict unhappy consequences for uranium prices….. Powertech’s current financial state could cast even more doubt on the future of the Centennial Project, according to the filing. Powertech said in its report that to maintain “a portion” of its interest in the Centennial Project, the company is required to make “significant” option payments in June.

April 29, 2011 - Posted by Christina Macpherson | business and costs, Uranium, USA