Seeking uranium
On the heels of Justice Litle's article in Wednesday's DR about the growing global demand for uranium comes two intriguing nuggets of news.
There's a follow-up to some news we had at Christmastime about a study published in the Proceedings of the National Academy of Sciences that said Iran is mismanaging its oil industry so badly that it could stop exporting oil as early as 2015. Now the author of that study's been interviewed by NPR, where he also addresses the proposition that if Iran's oil exports are doomed to decline, then it really does need uranium for nuclear power. (By the way, that will be among the areas of focus in a special report coming soon fromStrategic Investment's Dan Amoss. Stay tuned.)
Then there's this…Australia has agreed to sell some of its generous uranium reserves to China. Shipments could begin this year, although the amount is still up for negotiation.
There's squawking about whether some of this uranium might end up being diverted for weapons, but if a hawk like Prime Minister John Howard is willing to cut a deal like this with China — which after all is in Australia's "near abroad," he can't be too concerned.
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