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Paladin boss still sees a nuclear future

URANIUM business leader John Borshoff says the outlook for nuclear power remains strong even after the Fukushima disaster, which shaved a mere 3 per cent off demand for the commodity.

URANIUM business leader John Borshoff says the outlook for nuclear power remains strong even after the Fukushima disaster, which shaved a mere 3 per cent off demand for the commodity.

Mr Borshoff, the managing director of the uranium miner Paladin Energy, says that the events in Japan in March provided only a hiccup for the growth of nuclear power worldwide.

"Uranium is still suffering from the impact of the terrible Japanese earthquake ... and the damage this caused to the Fukushima nuclear reactor," he said.

"The supply sector and the nuclear industry in general have suffered a bruising effect. [But] nearly six months later it has become apparent that the outlook for nuclear is strong and will remain so in the future."

Mr Borshoff said only a few countries had gone cold on nuclear power. Switzerland and Germany have decided to phase out nuclear power and Thailand is considering alternatives to its first proposed nuclear power plant.

He said Saudi Arabia's nuclear plans since Fukushima were going unnoticed.


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