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Green pledge pushes Japan to nuclear restart, Cameco trades up

Michael McCrae

Kitco News

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(Kitco News) - The head of Japan's energy ministry told the Financial Times that nuclear power is essential if the country is going to meet its green targets.

The interview with Hiroshi Kajiyama was published on Monday (paywall).

Japan has pledged to make the country carbon neutral by 2050.

"Personally, I think nuclear power will be indispensable," Kajiyama told the FT.

Kajiyama previously held positions in the nuclear industry.

On Monday, the mayor of the town of Takahama in Fukui Prefecture green lit the restart of the Nos. 1 and 2 reactors at Kansai Electric Power Co.'s Takahama Nuclear Power Plant. Both reactors are over 40 years old. The story was reported by Japan Times.

Signs of Japan returning to nuclear power have been good for Cameco. In the last week uranium giant Cameco (NYSE:CCJ) has traded at a 52-week high of $15.16. The company is up over 50% in the past year.

By Michael McCrae

For Kitco News

Contact mmccrae@kitco.com
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