NEW YORK, NY--(Marketwire -03/09/12)- Despite a recent hit, uranium stocks have been some of the strongest performers on Wall Street. The Global X Uranium ETF (URA) is up in excess of 20 percent this year as the growth outlook of Nuclear Energy appears strong after falling hard last year on Japan's nuclear disaster. Five Star Equities examines the outlook for companies in the Uranium industry and provides equity research on Uranerz Energy Corporation (AMEX: URZ.TO - News) (TSX: URZ.TO - News) and Ur-Energy Inc. (AMEX: URG - News) (TSX: URE.TO - News). Access to the full company reports can be found at:
A recent conference in New Delhi at the International Nuclear Symposium reaffirmed India's commitment to nuclear energy. Indian Atomic Energy Commission Chairman Srikumar Banerjee said, "Without nuclear energy, the economic growth of the country would be slowed down." Responding to concerns following Japan's tragic nuclear disaster last year, Banerjee said, "there is no point in avoiding the questions that have come up in people's minds -- we need to address them head-on... It is important for the public to understand India cannot renounce nuclear power."
India has 20 nuclear power plants in operation with an installed capacity of 4,780 megawatts, and another seven reactors under construction.
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In more developed markets, the U.K and France signed a deal to strengthen co-operation in the development of civil nuclear energy. Meanwhile, safety regulators in the U.S. gave approval for the construction of two nuclear power reactors in Georgia.
According to The Wall Street Journal, the "AP1000" being built in Georgia is specifically designed with a "passive" cooling system that relies on natural convection currents rather than electric pumps so the reactors can cool themselves for several days while waiting for power to be restored.
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