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Thursday, December 07, 2006

2 Uranium Stories

I don't want uranium to feel left out...

Kazakh and Russian officials on Thursday inaugurated a joint venture that will mine uranium to make fuel for Russian-designed nuclear reactors, Kazakhstan's national atomic company said.
The Zarechnoye mine in southern Kazakhstan contains 19,000 tons of uranium and is expected to produce 1,000 tons of uranium annually by 2009, KazAtomProm said.
XX My take -- Russia is already building an Empire of Energy, one based on oil and natural gas. If it makes serious inroads into Kazakhstan, a former Soviet Republic with 30% of the world's proven uranium reserves, Russia will be one step closer to winning the Global War for Natural Resources. That's the struggle that I believe will define the 21st Century.

Australia will sell uranium to China starting next year under an export deal approved yesterday by a parliamentary committee that ensured international safeguards would be met.
Australia, which holds 40 per cent of the world's recoverable uranium, reached agreement in April to begin exporting uranium to China, a move that should double annual revenue from exports of the nuclear fuel to US$1 billion.

XX My take -- With China's nuclear power capacity posed to increase by about 900% over the next couple decades, this is potentially huge for Australian uranium stocks.

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