Posted in | News | Uranium | Coal | Natural Gas

Japanese Nuclear Problems Could be Good News for Australian Mining Sector

As the world watched with bated breath how nuclear reactors leaked radiation in Japan, a more pressing problem is also developing in the island nation. The power and electrical generation capacity of the country is going to be severely challenged. This could translate into good news for the mining sector in Australia.

The demand for coal in Japan is likely to rise as the country tries to meet the shortfall left by the redundant nuclear plants in the short term by goal and natural gas. There is a good chance that Australia will be able to export coal and liquefied natural gas to Japan in the next couple of years as Japan struggles to get its power shortage sorted out.

Fitch analyst Arnon Musiker said that Australia's thermal coal and LNG export industries were well positioned to meet Japan's changing primary fuel requirements. He added that Japanese gas-fired electricity generators were operating at high capacity prior to the earthquake and have limited ability to further increase production.

Morningstar analyst Mark Taylor said that the Japanese disaster might result in some delays to approvals and some re-engineering and increase in reactor cost. There has been a rebound in uranium shares on Monday. The price of uranium may take a hit globally as well.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Scanlon, Joel. (2019, March 19). Japanese Nuclear Problems Could be Good News for Australian Mining Sector. AZoMining. Retrieved on October 09, 2024 from https://www.azomining.com/News.aspx?newsID=3770.

  • MLA

    Scanlon, Joel. "Japanese Nuclear Problems Could be Good News for Australian Mining Sector". AZoMining. 09 October 2024. <https://www.azomining.com/News.aspx?newsID=3770>.

  • Chicago

    Scanlon, Joel. "Japanese Nuclear Problems Could be Good News for Australian Mining Sector". AZoMining. https://www.azomining.com/News.aspx?newsID=3770. (accessed October 09, 2024).

  • Harvard

    Scanlon, Joel. 2019. Japanese Nuclear Problems Could be Good News for Australian Mining Sector. AZoMining, viewed 09 October 2024, https://www.azomining.com/News.aspx?newsID=3770.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.