The prospects for uranium mining in Mauritania remain strong despite the recent catastrophic earthquake and tsunami in Japan, which caused radiation leakages at nuclear reactors there and a sharp fall in the price of uranium. The disaster has led many governments worldwide to announce their intention to review plans to build nuclear power stations, the main market for uranium. In the days following the damage to the Japanese nuclear reactors, global uranium prices fell by roughly 10%, to below US$60/lb. According to a uranium sector analyst, Sydney Warwick Grigor-quoted by an Australian magazine, Business Spectator-US$60/lb is the minimum price to encourage investment in new mines. However, The Economist Intelligence Unit expects the market for uranium to recover, as it remains the most practical alternative to increased dependence on polluting fossil fuels. The sector currently accounts for close to 14% of global electricity generation, and several countries, notably China and India, have ambitious plans to build new power stations; China aims to increase its nuclear generation capacity by 700% by 2020. If anything, the disaster in Japan will lead to heightened safety standards and may be used as a justification, in China's case, for a lowering of targets to more achievable levels. Overall, while uranium prices may remain suppressed in the short term, the price is expected to recover and to support Mauritanian production. Meanwhile, by late March, Forte Energy-an Australian-owned company that has been conducting surveys in Bir en Nar, Zednes region, in the north of the country (January 2011, The domestic economy)-had completed 17 test drills and reconfirmed their previous positive results.