NEW YORK, NY -- (Marketwire) -- 11/29/12 -- Before the Fukushima disaster, the demand for nuclear power was rapidly growing as China and India had plans to construct over 50 nuclear reactors over the next five years. After pausing those plans in 2011 the countries have just recently began moving forward with their nuclear expansion plans. Five Star Equities examines the outlook for companies in the Uranium Industry and provides equity research on USEC Inc. (NYSE: USU) and Uranium One, Inc. (TSX: UUU).
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China has recently lifted its ban on building new nuclear power stations in coastal areas. China plans to increase its nuclear capacity from 12 million kilowatts to 40 million kilowatts by 2015. The country hopes to meet at least half of their projected uranium demand through domestic production, and the other half through foreign imports.
In attempts to meet its rapidly growing demand for energy, India has recently secured a deal with Canada which would allow Canadian companies to export uranium to India. India has plans to generate 25 percent of its electricity form nuclear energy by 2050.
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USEC is a leading supplier of enriched uranium fuel and nuclear industry related services for commercial nuclear power plants. Since 2002, USEC has been developing and demonstrating a highly efficient uranium enrichment gas centrifuge technology called the American Centrifuge. USEC is working to deploy this technology in its American Centrifuge Plant.
Uranium One is a Canadian-based company and one of the world's largest publicly traded uranium producers with a globally diverse portfolio of assets located in Kazakhstan, the United States and Australia. The company reported production in the third quarter of 2012 surged 23 percent to 3.1 million pounds.
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