NEW YORK, NY — (Marketwire) — 08/23/12 — The Fukushima disaster of last year delivered a crippling blow to the Uranium Industry, as both uranium stocks and prices plummeted. Uranium prices are currently around $50 a pound, roughly 50 percent lower since the disaster. More than a year after the incident the Uranium Industry may finally be on the road to recovery on renewed demand from China. The Paragon Report examines investing opportunities in the Uranium Industry and provides equity research on Uranium Energy Corp. (NYSE: UEC) and Ur-Energy Inc. (NYSE: URG) (TSX: URE).
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China currently has 14 nuclear reactors operating with a capacity to produce 11.8 gigawatts. By 2015 the country has plans to expand their nuclear-power generating capacity to 40 gigagwatts as they begin to shift away from coal. According to a recent Wall Street Journal article over the next twenty years China could build as many as 100 nuclear reactors.
A report, commonly known as the Red Book, from the Organization for Economic Cooperation and Development nuclear energy agency and the International Atomic Energy Agency states that uranium demand is expected to continue to grow for the “foreseeable future.” According to the report, by 2035 annual reactor-related uranium requirements is projected to increase from 63,875 mt to between 98,000 mt and 136,000 mt.
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Uranium Energy Corp is a uranium production, development and exploration company operating North America–s newest emerging uranium mine. The company–s fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery project, which is ramping up initial production, and the Goliad in-situ recovery project which has been granted its Mine Permit and is in the initial stages of mine construction.
Ur-Energy is a dynamic junior mining company focusing on exploration and development of uranium properties in the United States and in Canada. Ur-Energy is completing permitting activities to bring its Lost Creek Wyoming uranium deposit into production and to build a two-million-pounds-per-year processing facility.
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