AUSTRALIAN uranium explorers have endured yet an additional bad day of trading, with confidence in the nuclear power sector additional injured by political developments in Europe. Italy has joined Germany and Switzerland in rotating its back on nuclear power, after a public referendum on Monday voted to rescind laws that meant to revive Italy's nuclear industry. Introduced in 2009, the laws were the initial step in plans to have 25 per cent of Italy's electricity complete by nuclear power by 2030.
But concerns over the current nuclear meltdown in Japan prompted more than 90 per cent of Italian voters to dispose of nuclear power, just as they did at a referendum in 1987 following the Chernobyl nuclear meltdown. Several ASX-listed uranium explorers observe their share price fall on the news, with Paladin Energy diminishing 18¢ to $2.61 and Energy Resources of Australia falling 21¢ to $4.04.
Falls were also record by Toro Energy, Extract Resources, Marathon Resources, Marengo Mining and Bannerman Resources. Many of individuals companies have watch their market capitalization more than halve because the Fukushima disaster in March.Energia Minerals - whose share cost fell 1¢ to 9¢ - will be directly precious by the Italian decision given the company's plan to expand two uranium projects in the Lake Como region of northern Italy.
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