Bush Administration Nuclear Energy Initiative Hampered

Labor and equipment turmoil in uranium mining sector could slow down nuclear power plant expansion.

Sarasota, FL (PRWEB) March 20, 2006 -- Over 18 months ago, Russian physicist Dr. Dzhakishev warned the World Nuclear Association at an annual symposium, “One day nuclear power plants will face a natural uranium shortage and it is not necessary to be a prophet to foresee this.” He advised action, saying, “The key to the solution of the major problems of the uranium market lies with the development of the potential of the uranium producers.” The shortage has arrived with uranium spot prices now trading at levels last seen when Jimmy Carter was President. Instead of celebrating, uranium exploration, development and production companies are now hampered by widespread labor and equipment shortages through the sector. Industry insider, Wyoming legislator and president of Strathmore Minerals (TSX: STM; Other OTC: STHJF), a uranium development company, David Miller told StockInterview.com, “A very small number of professionals continued in the uranium industry, during the twenty-year bear market. Now that the number of uranium companies has skyrocketed to more than 420, there is a potentially catastrophic shortage of uranium expertise.”

The overheated commodities bull market since 2001 is causing a crisis throughout the mining industry. For example, the Baker Hughes North American rotary rig stood at 1546 on March 17th, up 316 percent from its nadir seven years ago and nearly twenty percent higher than a year ago. Ed Calvert, who runs Nucor Drilling Inc in Wyoming, told StockInterview.com, “There just aren’t any rigs available in the U.S. You may find one, but it’s a problem finding the right rig at the right time.”

One day nuclear power plants will face a natural uranium shortage and it is not necessary to be a prophet to foresee this.

The key to the solution of the major problems of the uranium market lies with the development of the potential of the uranium producers.

A very small number of professionals continued in the uranium industry, during the twenty-year bear market. Now that the number of uranium companies has skyrocketed to more than 420, there is a potentially catastrophic shortage of uranium expertise.

There just aren’t any rigs available in the U.S. You may find one, but it’s a problem finding the right rig at the right time.

Headhunters who have been around for twenty years say they’ve never seen a market like this. For the past ten years, the mining industry fed mining graduates to the wolves. Now they need them.

Mining companies have to expect the demand for professionals, such as production geologists, will go up with the price of metals.

Rising Commodity Prices Causing New Turmoil through the Mining Sector

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mining uranium nuclear energy labor shortage drill rigs commodities commodity prices metallurgists mining engineers geologists drillers

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