Don’t hear too much in the news recently about what is going on at Fukushima with the nuclear power plants there, but from a couple of sources that appeared it seems there was “unimaginable radiation detected in a Fukushima reactor.” Despite whatever we know about what is going on in Fukushima, Japan has 42 reactors operable and potentially able to restart, and 24 of these reactors are in the process of restart approvals. The first two reactors restarted in August and October, 2015. In addition to these reactors, Japan has two reactors under construction but another three which were likely to start building by mid-2011 have apparently been deferred because of the conditions and events related to Fukushima. Prior to the Fukushima disaster, Japan had plans to construct eight new reactors and nuclear fuel reprocessing facilities.
The circumstances in China are completely different regarding nuclear plants. In China, now with 32 operating reactors on the mainland, China is well into the growth phase of its nuclear power station construction program. Over 20 reactors are currently under construction, including the world’s first Westinghouse AP1000 units, and a demonstration high-temperature gas-cooled reactor plant. China has planned for the coming years 58 GWe (Gigawatt electricity) units by 2020, a total of 97 GWe units by 2024, and a total of 160 GWe units by 2040. To run these reactors requires uranium and lot’s of it. China since 2008 has gone through 223 million pounds of U308 uranium. China is breaking ground for between 6 and 8 reactors a year so this only means the requirement for uranium will continue to rise. China presently uses 50 million pounds more of uranium than the United States and this amount will increase by 12 percent a year. The cost of mining uranium is currently at about $75 per pound and will only increase from this point forward. Go with Uranium Energy Corp. (NYSE MKT: EUC).