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Nuclear lobby strategy of sucking in buyers: Westinghouse financing new reactor sales

Buy-US-nukesWestinghouse offers to co-finance new nuclear reactors  12 October 2014  Czech News Agency

No decision on a new tender has been made but expansion remains possible Prague, Oct 12 (ČTK) — US-Japanese company Westinghouse Electric Company, which earlier took part in the tender to extend Czech nuclear power plant Temelin, has offered to co-finance the construction of new nuclear sources in the Czech Republic, Westinghouse CR head Pavel Janík has told the Czech News Agency.

Westinghouse’s offer has also been confirmed to ČTK by the ministries of finance and industry.

“I can confirm that the management of our company has sent such an offer. We are ready to hold talks with the Czech government about the models of nuclear plant construction financing which are used in the development of AP1000 plant projects in the USA and Bulgaria,” said Janík.

Westinghouse already uses similar models in Bulgaria and Britain.

Czech power utility ČEZ, the operator of Temelín, canceled the tender for the plant’s extension in April this year. The main reason was the government’s decision not to provide financial guarantees for purchasing prices of electricity from the extended plant.

The costs of Temelín’s completion were estimated at between 200 billion Kč and 300 billion Kč………

“The Industry and Trade Ministry welcomes this information (Westinghouse’s offer),” Miroslav Kyncl of the ministry’s press department said.

The other bidders in the canceled Temelín tender were Czech-Russian consortium MIR.1200 and France’s Areva. Areva was later excluded…….http://www.praguepost.com/technology/42037-westinghouse-offers-to-co-finance-new-nuclear-reactors

October 13, 2014 Posted by | business and costs, EUROPE | Leave a comment

France doesn’t want domestic nuclear power, but keen to sell it to South Africa

fighters-marketing-1South Africa, France ink nuclear partnership, DW 10 Oct14 Only three weeks after partnering with Russia, South Africa has reached a similar nuclear agreement with France. The deals represent Pretoria’s renewed steps in building up the country’s nuclear energy program. outh Africa signed a nuclear power deal with France, the South African government announced Friday, as Pretoria aimed to expand its nuclear power to 9,600 MW.

President Jacob Zuma authorized “an agreement on cooperation in the development of peaceful uses of nuclear energy” with the French Republic, a statement from his office said.

The deal comes only three weeks after Africa’s second-largest economy reached a similar agreement with Russia, which will provide the country with eight nuclear reactors by 2023 in a $50 million (39.5-million-euro) contract.

But Russia has estimated the contract value to be more around tens of billions, as one reactor costs around $5 billion.

No further details on the deal with France were provided, and the circumstances surrounding the signing remain murky, according to local media reports……http://www.dw.de/south-africa-france-ink-nuclear-partnership/a-17987145

October 11, 2014 Posted by | France, marketing | 2 Comments

Will the 6000 Fukushima radioactive clean-up workers ever get the promised danger pay?

safety-symbol1flag-japanNuclear workers kept in dark on Fukushima hazard pay 25 CNBC  Reuters  7 Oct 2014  Almost a year after Japan pledged to double hazard pay at the stricken Fukushima nuclear plant, workers are still in the dark about how much extra they are getting paid, if anything, for cleaning up the worst nuclear disaster since Chernobyl.

Under pressure to improve working conditions at Fukushima after a series of radioactive water leaks last year, Tokyo Electric Power Co President Naomi Hirose promised in November to double the hazard pay the utility allocates to its subcontractors for plant workers. That would have increased the amount each worker at the nuclear facility is supposed to earn to about $180 a day in hazard pay.

Only one of the more than three dozen workers interviewed by Reuters from July through September said he received the full hazard pay increase promised by Tepco. Some workers said they got nothing. In cases where payslips detailed a hazard allowance, the amounts ranged from $36 to about $90 a day – at best half of what Hirose promised.

In some instances, workers said they were told they would be paid a hazard bonus based on how much radiation they absorb – an incentive to take additional risks at a dangerous work site…….

Tepco still relies on some 800 mostly small contractors to provide workers for the cleanup after the tsunami that swamped the plant on March 11, 2011 sparked meltdowns at three reactors. Subcontractors provide almost all of the 6,000 workers now employed at the plant. Tokyo Electric employs only about 250 on its own payroll at the facility.

The workforce at Fukushima has almost doubled over the past year, mostly as part of an effort to protect groundwater from being contaminated and to store water that comes in contact with melted fuel in the reactor buildings.

Some of the workers who arrived recently at the plant have been building bunkers to store highly radioactive sludge, which is a by-product of the process whereby contaminated water is treated. Others are installing equipment to freeze a ring of earth around four reactors at Fukushima to keep water from reaching the melted cores, an unprecedented effort directed by Kajima and expected to cost nearly $300 million.

Kazumitsu Nawata, a professor in the University of Tokyo’s department of technology who has researched conditions inside Fukushima, said that if workers do not receive pay that is commensurate with the risks they are taking, they will ultimately look elsewhere for employment. If more experienced workers leave for safer jobs in Tokyo where constructionprojects are accelerating ahead of the 2020 Olympic Games, it will also increase the likelihood of accidents at the plant, Nawata said in an interview.

“Until now, we have relied heavily on the goodwill of workers. But it’s already been three years since the accident. This is no longer sustainable,” he said. http://www.cnbc.com/id/102068504#.

October 10, 2014 Posted by | employment, Japan | Leave a comment

France’s Energy Dept ponders on costs of keeping old nuclear plants going: renewables may be cheaper

nukes-sad-flag-franceFrance to weigh costs of maintaining older plants in nuclear policy http://in.reuters.com/article/2014/10/05/france-nuclear-idINL6N0S00F220141005  PARIS Sun Oct 5, 2014 Oct 5 (Reuters) – France’s energy minister said on Sunday that the cost of maintaining older reactors would be factored into any decision on the future size of its large and aging nuclear power fleet.

The government already plans to shut the Fessenheim plant on the German border as part of a pledge to bring down atomic energy to 50 percent of French power output by 2025 from the current 75 percent, the highest share in the world.

But it has skirted the issue of whether to extend the operating life of its 58 nuclear reactors, which state-owned utility would like to prolong from 40 years to up to 60 years.

“Investments in reactors at the oldest plants don’t last forever. You then have to re-invest and that is very expensive,” Energy Minister Segolene Royal told France 3 television.

“If it costs a lot more to carry out maintenance to make older plants secure, it would be better to build renewable energy installations,” she said.

France, like other European countries, faces rising costs to maintain a nuclear fleet with an average age of about 30 years. EDF has estimated that extending the life of the plants would cost 55 billion euros.

About half of its reactors are due to reach the current 40-year limit during the 2020s. French nuclear watchdog ASN has said it will give an initial opinion on the issue next year. Royal is steering through parliament an energy transition bill that introduces a cap on nuclear power production, which would force EDF to close an equivalent capacity when it launches the 1,600 megawatt Flamanville reactor, due in 2016.

She said this week the government could choose to close another site than Fessenheim but dismissed as “fanciful” a 5 billion euro estimate made by two parliamentarians for the cost of closing Fessenheim. (Reporting by Gus Trompiz and Michel Rose; editing by Jane Baird)

October 6, 2014 Posted by | business and costs, France, politics | Leave a comment

European Commission goes along with charade hiding costs of UK’s Hinkley C nuclear farce.

European Commission issues smokescreen ‘protection’ to hide consumer exposure over Hinkley C Dave Toke’s green energy blog http://realfeed-intariffs.blogspot.co.uk/ , 4 October 2014
 The European Commission, in signalling its intention to give the green light to the British Government’s Hinkley C nuclear power plant deal under the ‘state aid’ permission procedure has failed miserably to protect British consumers against the consequences of what must be the highly likely outcome of cost overruns in building the Hinkley C plant. Instead it has issued what must be seen as a smokescreen of ‘protection’ to British electricity consumers by asking the British Government to introduce rules clawing back profits made by EDF. See http://www.reuters.com/article/2014/10/03/eu-britain-edf-nuclear-idUKL6N0RY3FE20141003?irpc=932

protest-Hinkley-CObservers might be forgiven for imagining that the 35 year contract for Hinkley C, underpinned by £10 billion of state loan guarantees paying higher premium prices (£92.50) than privately built onshore windfarms receive for only 15 year contracts, will give EDF and their Chinese partners big profits. However this impression is an artefact of the ludicrous propaganda perpetrated for many years that nuclear power stations are potentially profitable, competitive, operations. They are no such thing. Continue reading

October 6, 2014 Posted by | business and costs, politics international, UK | Leave a comment

Banks won’t finance nuclear facilities – the $squillion liability

text-my-money-2Consumers Shoulder the Risks

According to Schneider, commercial banks no longer back reactor project financing, because it’s too risky. It is for this reason that the Asian Development Bank has never financed a nuclear facility.

“Without upfront customer financing no one in the U.S. will build a new reactor,” he said.

Nuclear Power Costs Billions More Than Promised  By Epoch Times | October 1, 2014“……..despite nuclear’s green reputation experts say it’s a bad deal.  It requires a comparatively tiny amount of uranium to generate electricity, so most of the cost consumers pay for nuclear power comes from building the reactor. But the construction of new facilities often proves much more expensive than promised.

 New reports find that at least three quarters of all nuclear reactor projects worldwide are officially delayed. According to Mycle Schneider, International consultant on nuclear policy, and lead author of the World Nuclear Industry Status Report (WNISR) 2014, construction delays can run projects billions over budget.

In a conference call on Sept. 19, Schneider pointed reporters to the European pressurized water reactors under construction in Finland and France. These projects are now estimated at $11 billion each, totaling about $7 billion over budget and over four times as much as the original estimates 10 years ago.

The 66 units under construction worldwide have a huge range in terms of delays. Eight units have been under construction for over 20 years, but others have a setback of only three years.

The longest delay is the Watts Bar project in Tennessee where construction began in 1972.The Tennessee Valley Authority currently predicts that the reactor will be online by December 2015 and cost as much as $4.5 billion—$2 billion more than projected in 2012. Continue reading

October 6, 2014 Posted by | 2 WORLD, business and costs | Leave a comment

USA’s Airforce to give nuclear officers a special high pay rate

AF approves special pay for nuclear career fields, US AirForce, October 02, 2014 WASHINGTON (AFNS) —

Assignment incentive pay and special duty assignment pay for select total force nuclear career fields became effective Oct. 1, following Secretary of the Air Force Deborah Lee James’ recent announcement.

“The purpose of these special pays is to incentivize Airmen to volunteer for and perform duties in a particular career field, location and/or special assignment where the scope of responsibility and required skills exceed those of other Airmen in the same career field and rank,” said Brig. Gen. Brian Kelly, director of force management policy.

Select officers and enlisted members serving in eleven nuclear career fields and assignment areas will receive between $75 and $300 per month.  Nuclear careers fields selected for these special  pays include enlisted service members assigned to command post, nuclear aircraft maintenance, security forces, missile maintenance, aircraft armament systems, nuclear weapons and support personnel who deploy to the ICBM complex.  Missile launch, security forces and missile maintenance officers will be eligible to receive special pays as well……..http://www.af.mil/News/ArticleDisplay/tabid/223/Article/503220/af-approves-special-pay-for-nuclear-career-fields.aspx

October 6, 2014 Posted by | employment, USA, weapons and war | Leave a comment

$1 billion increase in price for new South Carolina nuclear power plant

nuclear-costsFlag-USAPrice tag for SC nuclear plant could grow by $1B http://www.postbulletin.com/news/nation/price-tag-for-sc-nuclear-plant-could-grow-by-b/article_ac849e2f-4c85-59e7-8144-9b7408674671.html 2 oct 14, 

ATLANTA (AP) — The firms building a new nuclear plant in South Carolina say their construction costs could grow by more than $1 billion.

That development is troubling for a nuclear industry trying to prove it can build new power plants without the cost overruns that plagued its projects decades ago. SCANA Corp. announced Thursday that the firms building and designing two new reactors at its V.C. Summer plant say the utility’s costs could grow by about $660 million dollars in 2007. Co-owner Santee Cooper would face a roughly $540 million charge.

Officials for SCANA Corp. and Santee Cooper say they have not accepted any financial responsibility for those costs, and the charges could change.

The plant being built in South Carolina is a sister project to another facility under construction in Georgia.

October 3, 2014 Posted by | business and costs, USA | Leave a comment

Regulators order Duke Energy to repay customers $54 million for nuclear equipment never produced

dollar-2Flag-USAPSC orders Duke to refund to customers $54 million for nuclear plant equipment that was never produced
 Ivan Penn, Tampa Bay Times Staff Writer Thursday, October 2, 2014  TALLAHASSEE — In the face of growing public outcry, state regulators today ordered Duke Energy Florida to credit $54 million to customers for nuclear equipment that was never produced for the now canceled Levy County nuclear project……..

 state Attorney General Pam Bondi joined a growing chorus of state leaders urging the PSC to refund to ratepayers money they paid for equipment for a nuclear plant. Neither the plant nor the equipment was ever built.

In a letter to commission Chairman Art Graham, Bondi said, “I am writing to express my deep concerns over the Public Service Commission . . . staff’s recent recommendation to side with Duke Energy to withhold $54 million in credits rightfully due to its customers.”

Today’s “meeting of the Commission presents an opportunity to do what is in the best interest of those customers who have been shouldering the burden of the $54 million for a nuclear plant project that will never come to fruition,” Bondi wrote.

Duke, the state’s second largest investor owned utility, had expected to have more than 3,000 megawatts of power from the upgrades to the Crystal River nuclear power plant in Citrus County and construction of a pair of new reactors in Levy County.

But a botched upgrade of the Crystal River facility led Duke to permanently close the plant and soaring costs of the Levy nuclear plant led the utility to cancel that project.

The two nuclear projects’ costs to Duke ratepayers reached $3.2 billion, though customers will never receive a kilowatt of power from the plants for that money.

The PSC vote to order the $54 million refund means customers will stop paying for expenses related to the Levy project by mid 2015. Without that order, payments of $3.45 a month for the average residential customer would have run through early 2016.

An eight-year-old state law enabled Duke to collect the money in advance for the Levy project. The law, the Nuclear Cost Recovery Clause, or so-called “nuclear advance fee,” allows Florida utilities to collect money from their customers for nuclear projects before they begin producing power.

Duke is suing its former contractor, Westinghouse Electric Co., in federal court in North Carolina to reclaim the $54 million because the company never produced the equipment after receiving the money. Westinghouse is counter-suing Duke for $512 million for canceling the contract for the Levy project. http://www.tampabay.com/news/business/energy/bondi-urges-psc-to-order-duke-to-refund-54-million-for-nuclear-equipment/2200407

October 3, 2014 Posted by | business and costs, USA | Leave a comment

OECD and IAEA warn of uranium industry’s uncertain future

OECD/IAEA Red Book   The latest edition of the ‘Red Book’ − ‘Uranium 2014: Resources, Production and Demand’ − has been released by the OECD Nuclear Energy Agency and the International Atomic Energy Agency.8………

“Uranium miners have been hit harder by the Fukushima Daiichi accident than any other segment of the nuclear fuel cycle,” the Red Book states, and Fukushima “has eroded public confidence in nuclear power in some countries and prospects for growth in nuclear generating capacity are in turn being reduced and subject to even greater uncertainty than usual.”

nuclear-dead-catUranium’s dead cat bounce as miners play chicken  Dr Jim Green − Nuclear Monitor 2 Oct 2014 “…..the price increase has been driven by supply-side concerns and speculation instead of increased demand or even speculation regarding increased demand. UBS commodities analyst Daniel Morgan said in early September: “There’s been a few supply-side issues which has been enough for a very modest price rise. What the market really needs is a demand-side driver to get the price going and in my view we don’t have one at the moment.”2

Macquarie Group’s Stefan Ljubisavljevic predicts a uranium supply surplus for the next five years unless some unprofitable mines close.1 Raymond James analyst David Sadowski said in May that many utilities around the world “are sitting on near-record piles” of uranium.11 For example China has stockpiled about eight years’ supply (at its current rate of consumption) while it may take Japanese utilities a decade or more before they exhaust existing stockpiles.12

The long term price, where most uranium business is conducted, was still languishing at US$44 / lb in late August, a six-year low.3

A number of mines have been put into care-and-maintenance over the past year, including Paladin Energy’s Kayelekera mine in Malawi, and the Honeymoon mine in South Australia, owned by a Rosatom subsidiary. Many other planned mining projects have been cancelled or deferred or scaled down, and some uranium mining companies are being downgraded. Recent examples include:

Continue reading

October 3, 2014 Posted by | business and costs, Uranium | Leave a comment

Secrecy and poor labour conditions at Fukushima nuclear plant

Fukushima-inspectionFukushima Worker: “All sorts of troubles going on in plant”; Officials won’t tell public what really happens — People should worry, it’s not under control — Employees wear disguises over fear of retaliation — Reporter: Tour of plant “was very strange… feels completely dead… not many people” (VIDEO) http://enenews.com/fukushima-worker-all-sorts-troubles-going-inside-plant-officials-arent-disclosing-problems-public-im-concerned-safety-employees-wear-disguises-fear-retaliation-plant-control-people-be-worried-vi?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ENENews+%28Energy+News%29

NHK
, Sept. 24, 2014 (at 2:15 in): [A Fukushima Daiichi worker’s attorney] warns that the current system could endanger the entire decommissioning process… “Tepco should be held accountable for turning a blind eye. It needs to improve labor conditions, otherwise the situation will make it impossible to secure enough workers to deal with the nuclear accident.” >>Watch the video here

The Guardian, Sept. 9, 2014 (emphasis added):Fukushima fallout continues… [There’s an] unprecedented attempt by four Fukushima Daiichi workers to sue the utility for unpaid wages… [T]he four men… wore masks in court for fear of reprisals from their employers… “A year ago, the prime minister told the world that Fukushima was under control. But that’s not the case,” Tsuguo Hirota told Reuters… “It’s becoming a place for amateurs only, and that has to worry anyone who lives near the plant.”… “My health could suffer… I believe there are many people who can’t speak out about this kind of problem,” one of the workers told public broadcaster NHK.

Time Magazine correspondent Hannah Beech, Sept. 7, 2014: Just to get into the plant it –again — it’s like a Hollywood movie… What was very strange about walking into this place is that it feels completely dead. You don’t see that many people moving around. And those people that you do see, there’s not a palpable sense of urgency, but you realize that the work that they’re doing is so important. And they may not be getting the full of backing that they should to be able to do this. >> Full interview here

NPR, March 11, 2014: About 100 out of the 4,000 people working in the plant every day are TEPCO employees. The rest are subcontractors… Workers [are barred from] speaking to the media… I met a TEPCO worker who was on the job when the quake and tsunami hit… and talked in his car… on the condition that we not identify him and disguise his voice. He says it’s well known at the plant that shoddy work is being done… Many problems inside the Fukushima plant go unreported… The worker says that the Japanese government now needs to step in and guarantee the welfare and safety of all the workers…

TEPCO employee at Fukushima Daiichi (at 2:45 in): I’m concerned about my safety… There are things they feel they don’t have to disclose. There are all sorts of troubles going oninside the plant.

Full interview with the anonymous Fukushima worker here http://enenews.com/fukushima-worker-all-sorts-troubles-going-inside-plant-officials-arent-disclosing-problems-public-im-concerned-safety-employees-wear-disguises-fear-retaliation-plant-control-people-be-worried-vi?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ENENews+%28Energy+News%29

September 29, 2014 Posted by | employment, Fukushima 2014, Japan | 1 Comment

“The nuclear industry is in ­decline” – a report that upsets the industry

nukes-sad-Nuclear’s fortunes on the wane THE AUSTRALIAN SEPTEMBER 29, 2014 Robin Bromby Business columnist
Sydney :……….now along comes some disquieting analysis of the nuclear electricity story. Normally, we would have seized on the annual report during the week fromManhattan Corp (MHC), which has the Ponton uranium project in Western Australia, and which coincided with yet another rise in the spot uranium price, up $US2.50 a pound to $US36.50/lb. Executive chairman Alan Eggers writes that the uranium sector has been dominated by “negative industry sentiment, falling supply and lacklustre demand among buyers of nuclear fuel”. He then outlines a reasonably cheerful outlook, and one to which Pure Speculation has been an adherent.

Until we read another report written by eight European and Japanese heavyweight thinkers in the field, headed by Paris-based Mycle Schneider. Their World Nuclear Industry Status Report 2014 has a stark and simple message: “The nuclear industry is in ­decline”.

There are 388 operating reactors around the world, 50 fewer than in 2002. Installed capacity is back to where it was 20 years ago.

The nuclear share of the world’s power generation declined from its peak of 19.6 per cent in 1996 to 10.8 per cent in 2013. In terms of revenue, nuclear now accounts for a lower percentage than in 1984.

In all, there are 67 “current” ­nuclear reactor projects, which sounds impressive until the report explains that eight of those reactors have been listed as “under construction” for more than 20 years; at least 49 have encountered construction delays, some for several years, and for the first time Chinese projects have also been delayed; for the remaining 18 reactors, either construction began within the past five years or the reactors have not yet reached projected start-up dates.

“Delays have occurred in the development of the nuclear programs for most of the more advanced newcomer countries, including Bangladesh, Jordan, Lithuania, Poland, Saudi Arabia, Turkey and Vietnam,” the report adds……..http://www.theaustralian.com.au/business/opinion/nuclears-fortunes-on-the-wane/story-fnciihm9-1227073165703

September 29, 2014 Posted by | 2 WORLD, AUSTRALIA, business and costs | Leave a comment

Doubtful that Japan’s nuclear reactors will ever restart

radiation-sign-sadflag-japanRocky road ahead for Japan’s nuclear restart, Ecologist Jim Green and Peer de Rijk / Nuclear Monitor 26th September 2014  Japan’s government is trying to get its failing nuclear power industry up and running, write Jim Green and Peer de Rijk. But in the post-Fukushima world, it faces formidable obstacles. Experts believe most reactors will never restart – and Japan’s stricken utilities may have to find $30 billion or more to finance their decommissioning……… Continue reading

September 29, 2014 Posted by | business and costs, Japan | Leave a comment

The US Nuclear Power Program is Based on an Exceedingly Bad Business Model

dollar-2Will Fukushima Become An Extinction Level Event? “Fukushima: Dispossession or Denuclearization?” — The Final Chapter, The Millennium Report 13 Sept 14  “……….Bear in mind that the following quote comes from a 1986 issue of Forbes Magazine, and that the economic and financial status quo throughout the US nuclear power industry has only sunk lower since the mid 1980s.

The failure of the U.S. nuclear power program ranks as the largest managerial disaster in business history. The utility industry has already invested $125 billion, with an additional $140 billion to come before the decade is out – and only the blind, or the biased, can now think that money has been well spent. – Forbes Magazine, February 1986

Maintenance procedures and preventative measures, plant overhauls and cold shutdown, temporary plant closures and premature decommissionings have plagued the nuclear energy industry from the very beginning. It is now experiencing a snowballing of these events, as the costs associated with them are skyrocketing. What relevance does this worsening predicament have to Earth changes and technospheric breakdown?

First, both of these major co-factors — Earth changes and technospheric breakdown — will only intensify for the foreseeable future. As they do, the business model that undergirds the nuclear energy industry will become more untenable. Not only is nuclear power generation the most cost ineffective of all the major energy-producing platforms, it is vulnerable to the greatest costs associated with required maintenance and repair, as well as failure prevention and remediation in the wake of a nuclear accident.

Clearly, because of unrealized revenue generation targets and cost overruns alone, the NEP business model is unsustainable. Global Climate Change and Technospheric Breakdown will only create an environment wherein costs will continue to escalate dramatically as the many aging plants worldwide get older and more decrepit. Ultimately, a breaking point will be reached whereby the current form of the Nuclear Energy Paradigm will no longer be a reasonable business proposition; not that it ever has been.

That Fukushima has placed such an exceptional financial burden on TEPCO validates this ubiquitous and ongoing scenario. Not only has Fukushima effectively bankrupted TEPCO, it has placed a huge cost burden on the Japanese government. It also has the potential to drag down every other business concern associated with TEPCO. The Japanese government is not immune to the extraordinary claims which may be filed in the future by the countless citizens and businesses that have legitimate grievances. These unfunded liabilities alone may end up taxing the people in ways never seen before.

The international cost ramifications have been curiously downplayed in this regard. However, given the current state of tensions between Japan and some of its neighboring countries, the current compassionate stance can easily be replaced with an understanding that Japan really screwed up, and that it ought to be held liable for damages related to all Fukushima-generated radiation damage. If damages could be proven in an international court of law, both China and North Korea might have a serious change of attitude in the not-too-distant future.

Perhaps then the politicians in Tokyo will begin to respond to this matter with prudence and foresight. The current energy policy surrounding nuclear power has been a gross failure, even when based on economics alone. Since 2011, so much has happened, and not happened, throughout the Japanese nuclear energy industry that it is a wonder any money is still allocated toward its proliferation.http://themillenniumreport.com/2014/09/will-fukushima-become-an-extinction-level-event/

 

September 26, 2014 Posted by | 2 WORLD, business and costs | Leave a comment

Poor outlook again for uranium market, with renewed glut

Uranium Rally Threatened by Surplus as Mine Strike Eases Bloomberg, By Ben Sharples September 23, 2014 The rally in uranium spurred by speculation of further sanctions against Russia is poised to unravel as a supply surplus builds with the end of a labor strike at the world’s biggest mine in Canada……

The glut is forecast to continue for a sixth year even after production shutdowns from Australia to Africa and the strike at Cameco Corp.’s McArthur River operation in Canada…..

Market Glut

Cantor estimates a uranium market surplus of 13.2 million pounds in 2014 while Raymond James Ltd., a financial adviser, on Aug. 27 forecast an overhang of about 10 million…….

Paladin Energy Ltd. said it would close its Kayelekera operation in Malawi until uranium climbs above $70 a pound, while Russia’s Atomredmetzoloto shut the Honeymoon mine in Australia last year…….http://www.businessweek.com/news/2014-09-23/uranium-rally-threatened-by-surplus-as-mine-strike-eases

September 24, 2014 Posted by | business and costs, Uranium | Leave a comment