Here are some of the news clips we're reading at NEI today. The United States' newly strengthened relationship with India is making waves in the global community. The Boston Globe reports that the United States has pledged to assist the nuclear power in meeting its energy needs:
The Bush administration yesterday reversed a longstanding policy and pledged to provide India with civilian nuclear energy technology, a clear sign of the emerging alliance between the two nations after decades of acrimony over India's Cold War legacy as a leader of the Nonaligned Movement.A recent analysis by Planet Ark reports that Uranium prices are soaring, and that investors are taking notice.
India got what it has wanted most in recent years from the United States: promises of nuclear reactors and nuclear fuel to meet its ballooning energy needs. In return, India pledged to ''assume the same responsibilities and practices" as other countries with advanced nuclear technology, including separating its civilian and weapons facilities and programs.
Prices of uranium, the fuel used in most of the world's nuclear power plants, have tripled in the last five years to record levels due to years of under-investment in the supply chain, traders and analysts said.Come back tomorrow for more news from the NEI Clip File.
Soaring oil prices and international attempts to reduce greenhouse gas emissions have thrown the spotlight back onto nuclear energy after many years of disfavour.
European manufacturers are looking at nuclear energy to secure long-term power prices, with Alcan considering building a plant to feed its aluminium smelting capacity in France and construction of a reactor in Finland is already under way to supply the paper and pulp industry.
China plans to build 30 new reactors by 2020 and the United States, Britain, South Korea, Russia, Ukraine, India and Chile also looking at reactor programs.
Spot uranium is trading at $29.50/lb according to the Ux Consulting (UxC) website, a leading publisher of uranium prices and price forecasts, against $8-10/lb three or four years ago.
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