Commodity prices show nuclear renaissance is underway

From the Vancouver Sun:

A renaissance in nuclear energy is underway as China doubles its target for nuclear power output and as major orders flow in from the Middle Kingdom, Scotiabank declares in its monthly commodity price report.

The news has not been lost on stock market players who have bid up prices of Canadian uranium producers like Cameco and Uranium One in recent months.

Uranium prices hit $61 US in mid-November after bottoming in March at $40.50 US, after China announced in its new five-year plan that it was doubling it target for nuclear power production to a level to 80 gigawatts, the equivalent of five per cent of the county's electrical output.

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