Monday, 14. March 2011
Topic: nuclear power - on March 14, 2011 at 2:38:00 PM CET
Reactor reaction wipes $1.5bn from uranium holdings
MORE than $1.5 billion was wiped off the value of uranium stocks yesterday as the market reacted savagely to the nuclear crisis unfolding in Japan.
As explosions rocked Japan's ailing Fukushima nuclear plant, the market seemed convinced the incident would harm ambitions for uranium to play a bigger role in energy production around the world.
Diversified miners like BHP Billiton and Rio Tinto escaped the worst of the market punishment yesterday, despite being substantial uranium producers.
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