Tokyo Electric says no plans to sell all uranium stakes

Japan’s Tokyo Electric Power Co (Tepco) said it has no plans to sell all the stakes it holds in overseas uranium projects, denying a newspaper report that it would take such a step to raise funds for victims of the Fukushima crisis.

The Yomiuri newspaper reported that the utility is considering selling its stakes in the Kharasan, southern Kazakhstan, and Cigar Lake, Canada.

Tepco issued a statement that a steady flow of long-term uranium supplies through investments is key in securing a stable power output and that therefore, the company had no plans to sell the stakes. Kharasan would yield 600t of uranium concentrate annually for the company – around 20% of its requirement. Cigar Lake would enable Tepco to acquire a further 450t.