The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive. The World Nuclear Association (WNA) says it is feasible that global nuclear electricity production, at around 2,441 terawatt hours (TWh) in 2015, may return to 2011 levels this year and to pre-Fukushima levels in two-three years. In 2010, the last full year before Fukushima, nuclear generation came to 2,630 TWh. Long-term perspectives have picked up too. China plans to build at least 60 nuclear plants in the coming decade, South Africa last month kicked off a major nuclear tender, and Thursday’s signature of the Hinkley Point contract between French utility EDF (EDF.PA) and the UK government opens the way for up to 12 new reactors in Britain. As nuclear reactors need fuel, all this should be good news for uranium miners, but the radioactive metal last week hit a new decade low of $23.5 per pound.
Reuters 3rd Oct 2016 read more »