Uranex company faces reality: getting out of uranium industry, changing its name

Antinuclear

bad-smell-nukeUranex dumps uranium for graphite  Brisbane Times, May 13, 2014 – Greg Roberts  The 2011 Fukushima nuclear disaster killed the dreams of many an Australian uranium explorer.

One of those, Uranex, has survived by changing commodities.

It went back and kicked the dirt again on its tenements in Tanzania and discovered another resource there: graphite.

In 2012 a stubbornly weak uranium price and a 200 per cent rent hike by the Tanzanian government spurred it into action……..

Graphite is in demand because it is a necessary component in rechargeable lithium ion batteries.

An eventual predicted take-up of electric cars would spur even more demand – nearly 40kg of graphite is used in each of those batteries.

Graphite has been used in batteries for decades because it is an electrical conductor, but the technological explosion in smart phones and other portable devices has sent demand soaring.

Uranex would be in production by…

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