Uranium Miners Jump as Japan Moves to Restart Reactors

Uranium prices and producers’ shares soared after Japan cleared the way for restart of the first of the nuclear reactors shut after the March 2011 earthquake and tsunami.
Cameco Corp. (CCO), Canada’s largest uranium producer, increased 11 percent, the biggest gain since August 2010. Denison Mines Corp. (DML) climbed 20 percent and explorer Fission Uranium Corp. (FCU) rose 18 percent in Toronto.
Kyushu Electric Power Co. (9508) today received final local approval to resume power generation at its Sendai nuclear plant in northern Japan, according to a prefecture statement. All reactors in Japan have been shut since a March 2011 earthquake and subsequent tsunami led to a meltdown at Tokyo Electric Power Co.’s Fukushima Dai-Ichi nuclear power plant, the worst nuclear disaster since Chernoby.  (more)

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