Australian uranium stocks slump amid Japan crisis

SYDNEYL: Uranium stocks in Australia fell on Monday in the wake of the Japanese earthquake and tsunami that has left officials grappling to contain a potential nuclear disaster.

Energy Resources of Australia, which owns the Ranger uranium miner, shed 12.23 percent to close down at Aus$8.25 while uranium miner Paladin Energy dropped 16.49 percent to Aus$3.95.

Uranium explorers were also lower, Toro Energy diving 23.08 percent to 10 cents and Extract Resources Ltd shedding 7.71 percent to close at Aus$9.81.

BHP Billiton eased 0.23 percent to Aus$44.09 as the overall S&P/ASX 200 index fell 0.40 percent to close at 4,626.4.

Australia is home to 27 percent of the world's reserves of uranium, which fuels nuclear power plants, most of which is exported to the United States, France and Japan. Australia does not have any nuclear power plants itself.