Uranium Hunter Corporation (OTCBB: URHN) is a publicly traded uranium exploration company with headquarters in Toronto, Canada. Uranium Hunter engages in acquiring uranium exploration properties in East Africa while building an impressive portfolio to become an established leader in uranium exploration. The company has a 100% interest in the uranium Au-property in Njombe and Songea Districts in Tanzania. Uranium Hunter Corporation is resting on the idea that many other energy companies are also resting on, and that is that alternative energy can solve many energy problems that span the globe today.
Internationally, there is a rapid movement involving nuclear energy. During the year 2000 the uranium spot price was at $7/lb in December. In May of 2007, the uranium spot price rose to US $120. Around the world, countries are becoming involved in nuclear power expansion and it is expected that many other countries will follow in their footsteps. A couple of the largest and most populated countries, India and China, have developed plans to quadruple nuclear capacity by 2020. The International Atomic Energy Agency has significantly increased their projections of world nuclear generating capacity, and they now anticipate at least 60 new plants in the next 15 years.
Nuclear energy has distinct environmental advantages over fossil fuels, in that virtually all its wastes are contained and managed, and nuclear power stations do not cause any pollution. Nuclear energy is the largest source of clean-air, carbon-free energy in North America. Nuclear power plants produce no controlled air pollutants, such as sulfur and particulates, or greenhouse gases.
Production from world uranium mines now supplies only 55% of the requirements of power utilities. A host of companies, including Uranium Hunter, hope that they can change that number in their favor. The amount of fuel required to operate a 1 million kilowatt power plant for one year using enriched uranium totals 30 tons; other forms of energy to operate the same 1 million kilowatt power plant for one year range from natural gas at 1.1 million tons, oil at 1.4 million tons, and coal at 2.2 million tons.
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