Cameco and Denison Mines Look to Benefit as China and India Resume Nuclear Power Expansion
Five Star Equities Provides Stock Research on Cameco and Denison Mines
NEW YORK, NY -- (Marketwire) -- 11/29/12 -- Before the Fukushima disaster, the demand for nuclear power was rapidly growing as China and India had plans to construct over 50 nuclear reactors over the next five years. After pausing those plans in 2011 the countries have just recently began moving forward with their nuclear expansion plans. Five Star Equities examines the outlook for companies in the Uranium Industry and provides equity research on Cameco Corporation (NYSE: CCJ) (TSX: CCO) and Denison Mines Corp. (NYSE: DNN) (TSX: DML).
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China has recently lifted its ban on building new nuclear power stations in coastal areas. China plans to increase its nuclear capacity from 12 million kilowatts to 40 million kilowatts by 2015. The country hopes to meet at least half of their projected uranium demand through domestic production, and the other half through foreign imports.
In attempts to meet its rapidly growing demand for energy, India has recently secured a deal with Canada which would allow Canadian companies to export uranium to India. India has plans to generate 25 percent of its electricity form nuclear energy by 2050.
Five Star Equities releases regular market updates on the Uranium Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
"India represents a huge business opportunity for Cameco and the entire Canadian nuclear energy industry," said Tim Gitzel, Cameco's president and CEO. "The ability to supply Canadian uranium to this rapidly expanding market will mean more jobs, more investment and more development here in Canada. It will also enable India to meet its growing electricity needs with a clean, carbon-free energy source."
Denison Mines is a uranium exploration and development company with interests in exploration and development projects in Saskatchewan, Zambia and Mongolia. As well, Denison has a 22.5% ownership interest in the McClean Lake uranium mill, located in northern Saskatchewan, which is one of the world's largest uranium processing facilities.
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