Cameco says Japan’s nuclear reactor start positive news for industry

As Japan flipped the switch on its first nuclear reactor, the uranium industry hopes this is the first reactor of many to come back.

“It’s very good news for the industry. It’s a positive signal that the Japanese market is going to return and bring back it’s reactors and we’ve been watching them closely,” Alice Wong, senior vice-president with Cameco, said.

She said Cameco expects more reactors to come online as Japan continues its review process of the reactors that were taken offline from 2011 to 2013 in the wake of the Fukushima meltdown of 2011.

“In Japan there are five plants that have made it through the review process and 19 going through the process and our estimate is that two-thirds will return over time, 30 or so reactors coming back,” Wong said.