Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Uranium Stocks
Uranium Price
Our RSS Feed

Uranium Updates

Enter your email address:

Follow Us on Twitter
« G8 to go Nuclear! | Main | Uranium: and now some good news! »
Friday
Apr252008

British Columbia: A policy of no uranium mining?

BC mining 26 April 2008


In a recent announcement by Kevin Krueger, the minister of state for mining, British Columbia (BC) re-affirmed that he would not support the exploration and development of uranium. In contrast their neighbours, Alberta, have appointed a panel of experts to study the use of nuclear power as a possible power source to generate the steam required in order to extract oil from the tar sands projects.

It is true that BC does not have the up coming demand for power that the tar sands projects require and can therefore afford to turn their backs on uranium mining. However, they do have a need for electricity and one day they might well be reliant on Alberta’s oil to satisfy their own energy demands. So if Alberta goes ahead with the development of nuclear energy will BC continue with this ban? It appears to us to be rather short sighted to ban uranium mining just because you do not need it. Why?

Well it must surely be cheaper to truck in uranium from BC than have to get shipped half way across the world. These transport costs will be built into the cost of extracting the oil and of course passed on to the customer, which could be the residents of BC.

There is also an environmental consideration here in terms of transportation. Shipping materials has never been a hazard proof way of transporting materials as evidenced by the number of disastrous oil spills that we have suffered over the years. What happens when a ship carrying uranium runs into trouble? It must be safer to use locally sourced uranium. Alberta’s other neighbour, Saskatchewan, deserves a medal for encouraging such operations, developing its own economic base and supplying others who need uranium.

As we write we note that a strike at the Grangemouth refinery in the United Kingdom has caused panic buying at the pumps. The price of petrol could go up as high as £1.50 a litre according to the some in the media.

£1.50 is equivalent to US$2.97, C$3.01, AUD$3.18, Euro 1.90, INR 119.0, CNY 20.80, RUB 70.26, etc.

This incident only serves to underline just how tight the situation is with the supply of oil and once again reinforces the need for alternatives such as nuclear power. This problem is global so we can only hope that BC will one day recognise the predicament that the rest of the planet is being dogged by and have a change of heart.

If you are new to this web site and would like to stay in touch with the uranium sector and investment ideas regarding uranium stocks, then please click this link and enter your email address.





PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (4)

Your article about the B.C. uranium mining ban did not look far enough. Just across the Alberta border to the east is one of the largest uranium supplies in the world. A ban by B.C. would have zero effect on the tar sands development. On the other hand it would be a bonus for Cameco, Triex, Denison, JNR, Hathor, Canalaska, Pitchstone, Strathmore and others operating in the Athabasca Basin. This is one of the richest uranium areas in the world and only a few miles from the tar sands.
Del

April 26, 2008 | Unregistered CommenterDel Funk

policy of no mining ? huh..thats too bad... but because they have a policy of no mining it just creates more value for the other uran companies who can mine uranium ...case in point...like cameco with their flooded mines-because they have a problem mining uranium -which creates a lack/shortage -it just makes the companies who can mine uranium more valuable ! very volatile sector this uran sector-but with shortage /problems of mining creates opportunity for great rewards! look out for chinas bid for cameco ! if this happens im thinking a great increase in price of uran stocks and the price of uranium !

April 27, 2008 | Unregistered Commenterlou

For our American friends, including myself: $2.97/liter = $11.45 / gallon.

That makes $3.50/gallon gas look comparatively not so bad.

April 28, 2008 | Unregistered CommenterRyan

I live here in BC and if my information is correct we are already importing power from Alberta on the eastern part of the Province.

I would like to see a few others ban the uranium mining as I own a number of uranium companies stock and want to see it take off.

Good old BC pandering to the uninformed.

June 10, 2009 | Unregistered CommenterGary

PostPost a New Comment

Enter your information below to add a new comment.
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>