China Suspends Approval of 28 Nuclear Projects (URG) (USU) (URZ)
Tweet
Share
E-mailGet Alerts URZ Hot Sheet
Join SI Premium – FREE
Word spreading is that China has suspended approval on 28 nuclear projects following explosions in Japan after the massive earthquake that hit the island nation late last week. China is planning on running revised safety standards on the plans to ensure that they are up to snuff should a natural disaster of equivalent or greater magnitude strike.
China also is planning to conduct safety checks on all existing plants for the same reason.
The Official China website said "We must fully grasp the importance and urgency of nuclear safety, and development of nuclear power must make safety the top priority."
The impact seems to have been priced in to uranium shares, as they are continuing their descent on the possibility of fewer nuclear plant approvals in the near-term. Uranerz Energy Corp. (AMEX: URZ), Ur Energy Inc. (AMEX: URG), and USEC, Inc. (NYSE: USU) are leading the sector lower today.
China also is planning to conduct safety checks on all existing plants for the same reason.
The Official China website said "We must fully grasp the importance and urgency of nuclear safety, and development of nuclear power must make safety the top priority."
The impact seems to have been priced in to uranium shares, as they are continuing their descent on the possibility of fewer nuclear plant approvals in the near-term. Uranerz Energy Corp. (AMEX: URZ), Ur Energy Inc. (AMEX: URG), and USEC, Inc. (NYSE: USU) are leading the sector lower today.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- New PFA survey is most positive for this MedTech stock
- This China auto stock offers a compelling risk-reward: Morgan Stanley
- UBS flags this name, sees "significant potential for stock outperformance"
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
