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Wednesday, March 21, 2007 10:59:11 AM
Yet another Energy sector that has come through the recent selling squall within global markets in great shape is the ultra-high flying Uranium sector. In what can only be described as a stunning turn of events, on March 1st, Energy Resources of Australia (ERA) announced that its very major Ranger Mine, was shut down as a result of heavy monsoonal rains that had drenched the roads in the township of Jabiru near Darwin Australia. Energy Resources is one of the world's larger Uranium U308 Producers, accounting all by itself for 11% of worldwide Uranium production. While not as devastating an event as the Cigar Lake flooding which befell Cameco Ltd (CCJ) last November, this nevertheless looks to cut back badly needed supplies to a very tight market.
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