NEW YORK (TheStreet) -- Uranium Energy Corp (UEC) shares are spiking in early market trading on Monday, up 16.1% to $2, after Japan announced that it plans to restart its first nuclear reactor since 2011's Fukushima nuclear disaster.
The Fukushima reactor meltdown, which was caused by an earthquake and subsequent tsunami, forced the Japanese government to shutdown its nuclear program in 2011 as it reevaluated the safety of its reactors.
On Friday Kagoshima governor Yuichiro Ito gave final approval to restart two reactors at the Sendai power station in the southern part of the country.
"All things considered, I must say that we still need to rely on nuclear energy, and it is extremely important for us to steadily carry out the plan," said Ito on Friday.
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