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Demand for Nuclear Power Fueling Drive for Uranium Mining
SUGAR LAND--July 18, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Renewed concerns over global warming and record-high crude oil prices have left many policymakers rethinking their views on nuclear power plants. Nuclear power stations, unlike their coal-fired counter parts, do not release carbon dioxide, a leading culprit in global warming. As a result, there has been an increased demand for the mining of uranium, which is used for nuclear power. Through its subsidiary UraMin, AREVA NP, jointly owned by AREVA S.A. (EPA:CEI) (Paris) and Siemens (NYSE:SI) (Munich, Germany), is on its way to becoming Africa's leading uranium producer with several exploration projects planned. One of UraMin's projects is set to become the third-largest uranium mine in Namibia after Rio Tinto's (NYSE:RTP) (London) Rossing mine and Paladin Energy's (ASX:PDN) (Subiaco, Australia) Langer Heinrich mine.
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Industry Segment: Metals & Minerals
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