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Nadeem
Veteran Investor
Joined: 11 Jul 2004
Posts: 639
Cash Points ££ 13955.74
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 Posted: Fri Jan 19, 2007 2:57 am Post subject: Investing in Uranium Mining - China's Uranium Fever ! |
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rush of Chinese miners is heading for Australia right now. We've seen this kind of thing before — in 1851. Back then, the Chinese miners were after gold. This time, they're after another metal ... uranium. Will they find it? If history is any guide, yes.
The Chinese are very good at mining. In fact, they were so good at finding gold that the Australians considered them supernaturally lucky. The animosity was palpable, evident in phrases like “a Chinaman's chance.”
It wasn't just luck, though ... the Chinese used innovative techniques. For example, Western Australia is often bone-dry, and it's hard to find water to separate the gold from the dirt. The Chinese solved the problem by digging out gold-rich creek beds and letting seasonal flooding work its magic.
Fast forward to Australia today. Six Chinese companies are among more than 40 mining concerns competing for a license to explore two uranium prospects south of Alice Springs in central Australia. If the Chinese win out, it will be their first wholly-owned Australian uranium project.
I love when Chinese money flows into Australian uranium projects. In fact, one of my original picks for Red-Hot Asian Tigers was an Australian uranium prospector that received an infusion of Chinese cash. I like the stock so much that I told my subscribers to add more at a later date. The two positions closed last week up 88% and 105% from our tracked entry points!
Of course, uranium investments have been doing well in general ...
Great Things Are Happening for Uranium Around the World
If recent news is any indication, things are only going to get better for uranium in 2007. Take a look at the latest developments ...
In Australia, Prime Minister John Howard is leading the fight to lift his country's restrictive “Three Mines” policy, which allows only three uranium mines to be open at the same time. Restrictions are being rolled back at the state level as well. This means we could see a regular stampede of miners bringing new resources to market.
In Asia, the Chinese are seeking Australian mining licenses for a very good reason — they plan to import 2,500 metric tonnes of Australian uranium per year by 2020.
The really bullish news is that China's expected annual uranium demand is three times as much — 7,500 metric tonnes. Why such strong demand? Because China's nuclear program is kicking into overdrive. And the same thing is happening in Japan, Korea, and India!
In the U.S., utilities are starting to look at building new nuclear power plants again. While the U.S. has 103 working reactors, no new nuclear plant has been started since the 1970s.
Full Article - http://www.marketoracle.co.uk/Article223.html |
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