Wednesday's Western Cape High Court ruling, which appeared to put the brakes on the nuclear build programme, did not rattle JSE-listed Oakbay Resources and Energy, a company positioning itself to take advantage of rising uranium demand and prices.
Shares in the tightly-held company remained unchanged at R18, despite the news that the Southern African Faith Communities’ Environment Institute (Safcei) and Earthlife Africa Johannesburg, had succeeded in their bid to challenge the legality of the nuclear procurement process.
Oakbay has kept its sights on South Africa and other countries with plans for nuclear build programmes, saying it expected a 48percent increase in the global demand for uranium by 2030.
The company holds a 59percent interest in Shiva Uranium, a mining and exploration company.
Through the development of its uranium operations, Oakbay wants to take advantage of rising uranium demand and prices. Oakbay Investments owns 80percent of Oakbay Resources and Energy.