Japanese election lifts Uranium One

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IOL BR mining PIC001 REUTERS File image: Reuters

Uranium One, which mines the raw material used in nuclear reactor fuel, advanced the most in 11 months on the JSE yesterday after the pro-nuclear Liberal Democratic Party (LDP) won a landslide election victory in Japan on Sunday.

Shares in the Vancouver-based company jumped as much as 15.6 percent before midday and closed 13.5 percent higher at R18.29.

The LDP captured a two-thirds majority in Japan’s lower house of parliament in Sunday’s election.

The party’s campaign called for Japan to restart atomic reactors shut down after last year’s tsunami and earthquake. – Bloomberg

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