Uranium Ban "A Lost Opportunity"

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"Every other province (except Nova Scotia) can explore for uranium," said Mr. Ken Chernin,a financial analyst with Acadian Securities Inc., who noted that large amounts of capital, driven by higher uranium prices, are being spent on uranium exploration in Newfoundland and Labrador.

Nova Scotia imposed a moratorium on uranium mining in 1982 in response to public concerns about the safety of nuclear energy. It is the only province in Canada with such a ban.

Nova Scotia’s moratorium on uranium exploration and mining could be costing the province in a world looking to reduce carbon emissions, says a financial analyst with Acadian Securities Inc. in Halifax.

"It seems like a lost opportunity," Ken Chernin said in an interview Thursday.

Nova Scotia imposed the moratorium in 1982 in response to public concerns about the safety of nuclear energy. It is the only province in Canada, the world’s largest uranium producer, that bans uranium exploration and mining.

Growing concerns about climate change have prompted something of a nuclear renaissance, with many jurisdictions considering nuclear energy, which produces no carbon dioxide emissions, as a green alternative to dirty and dwindling fossil fuels like oil, gas and coal.

"Every other province can explore for uranium," said Mr. Chernin, who noted that large amounts of capital, driven by higher uranium prices, are being spent on uranium exploration in Newfoundland and Labrador.

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