Uranium stocks jump on Japanese nuclear restart news

With local politicians giving their blessing today, the long awaited restart of Japan’s nuclear reactors is set to begin in 2015 with two reactors at the Sendai nuclear plant.

The governor of Japan’s Kagoshima prefecture, Yuichiro Ito, gave his approval to restart the reactors – the final approval necessary to proceed. A vote in the prefecture assembly supported the decision 38 to nine.

The news sent the spot price of uranium up 4.3% to US$39.50 per lb U₃O₈, according to Bloomberg.

Shares in uranium miners and juniors, which have lagged a rise in the uranium price this year from a low of US$28.25 per lb in June, also reacted.

Read the complete article at NorthernMiner.com/news/uranium-equities