WoW Gold CheapThe interests of nuclear energy as an alternative to costly fossil fuels has driven the spot price of uranium over 50 percent since July and made the uranium stocks on the rise. Investors tend to reverse some of these benefits as a result of the ongoing crisis in Japan, analysts said.
"If a nuclear accident," said Salman Partners analyst Raymond Goldie senior mining, "would certainly be a cause of world public opinion against nuclear power, and that will certainly be an impact on long-term demand for uranium. "
Shares of uranium miners in Australia top - some of the world's largest - fell sharply when trading opened in Sydney on Monday. Energy resources, Australia (ERA.AX), a unit of Rio Tinto (RIO.AX) (RIO.L) fell 9.5 percent in early trading, but shares in Paladin (PDN.AX) declined by 11 per cent.
Meanwhile, engineers in Japan have been pumping seawater into the damaged nuclear reactor to prevent a catastrophic collapse of large-scale but significant damage has occurred and the plants probably will not work, however, according to experts.
While the Japanese authorities seem to have prevented the worst case, a royal flush, the political impact of the crisis had already hit home in the United States.
Senator Joe Lieberman, who chairs the Senate Homeland Security panel, said Sunday the U.S. should "slow down" the new nuclear plants until the impact of an event in Japan, it has become clear.
The United States currently has 104 nuclear reactors, and analysts expect four to eight new reactors to be built. In 2008, more than 30 reactors in the planning stage - most of whom have been victims of economic crisis.WoW Gold
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