NEW YORK, NY -- (Marketwire) -- 07/25/12 -- After an unexpected strong start to 2012, uranium stocks have fallen hard in recent months. The Global X Uranium ETF (URA) is down more than 30 percent over the last 6 months. Despite the fall uranium stocks look to be on the upswing as Japan has finally begun to restart their first nuclear reactors since the Fukushima disaster. The Paragon Report examines investing opportunities in the Uranium Industry and provides equity research on Cameco Corporation (NYSE: CCJ) (TSX: CCO) and USEC Inc. (NYSE: USU).
Earlier this month, a Japanese pro-nuclear governor won a new term by a large margin. The gubernatorial race was the first election following Japan's restart of their first nuclear reactor. The vote showed that despite facing major national opposition to nuclear energy, rural prefectures in Japan are dependent on nuclear reactors for jobs and subsidies.
"Even if the national government eventually phases out nuclear power, the Sendai plants are an important part of the energy equation today," said Hiromi Imaya, a deputy campaign manager for Gov. Ito.
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Cameco welcomed the announcement of protocol agreement broadening the existing Canada-China nuclear co-operation agreement. "The ability to export Canadian-sourced uranium to China is incredibly important to our company," said Tim Gitzel, Cameco's president and CEO. "It will mean more jobs, more development and more investment here in Canada by Cameco and other uranium producers hoping to access this huge and growing market for nuclear energy."
USEC is a leading world supplier of nuclear fuel and advanced technology solutions. USEC operates the only U.S.-owned uranium enrichment facility in the United States. The Megatons to Megawatts program has converted 450 metric tons of weapons-grade uranium from dismantled former Soviet Union nuclear warheads into low enriched uranium fuel to generate clean, reliable electricity in commercial nuclear power plants. The program is now 90 percent complete.
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