More Nuclear News You Can Use ...

China has $60 billion Plan for Nuclear Power CHINA needs a budget of 450 billion yuan (US$60.36 billion) in the 15 years to 2020 for nuclear plants as the nation seeks alternatives to coal-generated electricity, according to a new industry plan.

Uranium hits $90 per pound. Everyone's having production shortfalls ...

Cameco said yesterday it will delay the start of its Cigar Lake mine to 2011. The mine was originally expected to account for about a 10th of world output from this year. It is the largest untapped source of uranium and flooded in October 2006.

Uranium One, owner of South Africa's biggest uranium deposit, on Oct. 30 cut its 2008 production target by 38 percent because of a shortage of sulfuric acid needed to recover the metal from mines in Kazakhstan.

Paladin, the Australia-based company producing uranium in Namibia, said Oct. 26 it will produce 650,000 pounds at the Langer Heinrich mine in the second half of this year, a third less than expected.

Nuclear Renaissance in Russia. Kiriyenko has called for a significant increase in the share of nuclear power in Russia's electricity generation--partly to free up gas for profitable exports. He proposed doing this by adding 40 reactors to Russia's 31 existing plants by 2030 and by raising the share of nuclear energy in generating electric power from 17% to 25%.

Check out my new gold and energy blog at MoneyAndMarkets.com