Word: uranium
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PUCA is conducting the hearing to determine if nuclear power plants are economically realistic in the future in view of rising prices for uranium, high construction expenses, and environmental risks...
Last week General Electric Co., the U.S.'s largest electrical-equipment manufacturer, joined the trend. G.E. announced that it plans to acquire Utah International Inc., a large but little-known San Francisco-based mining company (1974 sales: $500 million) that has extensive reserves of coal, uranium and other natural resources in the U.S. and abroad. GE plans to pay about $ 1.9 billion in stock for Utah International...
...atomic power plants; lead times on such projects are long and cost overruns can be breathtakingly high. Jones says that GE sees Utah as "an important opportunity in the natural-resources industry." Some Wall Street analysts believe that the company may be particularly interested in Utah's uranium mining and processing operations. The merger with Utah would enhance GE's ability to sell profitable "turnkey" deals covering everything from the reactor to the atomic fuel to power-company customers...
Lethal Garbage A reactor's wastes, mainly the depleted uranium fuel, are so highly radioactive that they pose serious risks to humans. Much of the waste will remain dangerous for centuries, and nuclear power critics argue that it is not fair to produce lethal garbage that could endanger future generations. Government experts are remarkably untroubled by that prospect. They point out that the total amount of waste that nuclear plants will produce by the year 2000 would fit, if stacked six feet high, on a single football field. The Federal Government proposes to bury the wastes deep...
Beyond that, uranium prices have more than tripled, from $7 per lb. in 1973 to $25 per lb. today; uranium delivered in 1982 might cost about $43. The Federal Energy Administration has launched an investigation into possible causes of the price spiral, which is upsetting the best laid plans of the nuclear industry...