NEW YORK, NY--(Marketwire -05/03/12)- Last year the Fukushima disaster in Japan started a downward spiral for companies in the Uranium Industry. Approximately one year later the industry looks to be finally recovering as the Global X Uranium ETF (URA) is up nearly 12 percent year-to-date. "Fukushima put a speed bump on the road to the nuclear renaissance," Ganpat Mani, president of Converdyn, said at a nuclear industry summit. "It's not going to delay the programs around the world." The Paragon Report examines investing opportunities in the Uranium Industry and provides equity research on USEC Inc. (USU - News) and Uranium Energy Corp. (UEC - News).
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Approximately 650 million people in China and India currently are living without electricity. With the high costs of fossil fuel the most viable options for these countries would be nuclear power. Indonesia, Egypt, and Chile are among some of the nations that have plans to build their first nuclear power station, the list of countries operating atomic plants currently stands at 30. According to numbers released by the World Nuclear Association there are 61 reactors that are presently under construction, and plans to build another 162.
"In two years, there will be very strong demand on the market, as new reactors start operating, and as new contracts with the existing fleet kick in," Areva SA's Chief Commercial Officer Ruben Lazo said in a previous interview.
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USEC, a global energy company, is a leading supplier of enriched uranium fuel and nuclear industry related services for commercial nuclear power plants. The company recent reported a net loss of $28.8 million or 24 cents per share for the quarter ended March 31, 2012, compared to a net loss of $16.6 million or 14 cents per share for the first quarter of 2011. Revenue for the first quarter of 2012 was $561.5 million, an increase of $181.0 million compared to the same quarter of 2011.
Uranium Energy is a U.S.-based uranium production, development and exploration company operating North America's newest emerging uranium mine. UEC's fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery project, which is ramping up initial production, and the Goliad in-situ recovery project which has been granted its Mine Permit and is in the initial stages of mine construction.
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