Terrorists Target Uranium Mine
We received breaking news that an Al-Qaeda splinter group, the Movement for Oneness and Jihad in West Africa (MUJAO), launched an attack on the Somair uranium mine in Niger - owned by French uranium giant Areva.
One employee was killed and 14 wounded. The attacks presumably happened as retaliation for France’s recent military intervention against Islamic militants in Mali.
This will further disrupt global uranium supplies, and emphasizes what the energy experts in our webinar The Myth of American Energy Independence have been saying: Uranium is prime for price increases.
These attacks are just one more factor that will drive uranium prices higher, on top of:
- The imminent end of the Megatons to Megawatts agreement between the US and Russia – an agreement that has provided about 24 million pounds of cheap uranium per year.
- Japan’s decision to bring its idling 52 nuclear reactors back online – possibly as soon as July of this year. This comeback will instantly add 20 million pounds per year to global uranium demand.
- China’s reactor building frenzy. Right now, China is building 29 new nuclear reactors – with another 51 in the planning stages. When all is said and done, China will be nearly on par with the US, the world’s largest uranium consumer.
All proof that the time to invest in the best uranium stocks is now… before these shortage-creating events really hit the uranium sector.