Uranium

Uranium supply crunch by 2016 – nuclear expert says

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By Kip Keen

A nuclear expert gave uranium supply three more years – at most – before it seriously falls behind demand from the nuclear power industry.

“2016: We have to have supply in the market or the lights will gradually go out in the nuclear system,” said Thomas Drolet, Read more

Chinese one step closer to uranium buyout

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A CHINESE nuclear company has moved a step closer to bidding for Australian uranium explorer Extract Resources but the target says it is still seeking alternative suitors.

State-owned China Guangdong Nuclear Power Group is pursuing Extract because of its rights to the Husab uranium deposits in Namibia, reputedly the fourth-largest in the world. Read more

Don’t get carried away with uranium rally

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By Peter Koven

Canada’s Cameco to boost uranium spending in Australia

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By Dow Jones

CANADA’S Cameco plans to increase exploration spending in Australia by nearly a third this year after putting the country at the centre of its plans to double uranium output by the end of the decade, a senior executive said yesterday.

This year’s exploration budget would rise about 30 per cent as the company targets new deposits near its Kintyre project in Western Australia, as well as prospects in the Northern Territory and South Australia, Australian managing director Brian Reilly said. Read more

Energy Resources shares rise as output beats company forecast

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By Ross Kelly

URANIUM miner Energy Resources of Australia today said the highest December rainfall on record has flooded its Ranger pit in the Northern Territory, impeding access to high-grade ore and potentially lowering production volumes this year.

The bad news was largely anticipated, however, and beaten down ERA shares were up 4.7 per cent amid a flat wider market after the miner said it exceeded its 2011 output forecast. Read more

Australian uranium exports to India gather steam

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By Shivom Seth

Australia’s strategic ties with India are set to benefit with the Australian governing Labor party voting to overturn its long standing ban on exporting uranium to India. According to experts, an important obstacle is now out of the way with regards to Indo-Australian relations.

Australian defence minister Stephen Smith was in India recently, on his first visit after the ban was withdrawn. Smith reportedly Read more

Namibian uranium saga heats up

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By Peter Koven

Consolidation continues to be a key theme in the uranium sector.  Shortly after Rio Tinto Ltd. took control of Hathor Exploration Ltd., Chinese nuclear giant China Guangdong Power Group has made a friendly offer for Kalahari Minerals PLC.

This is relevant for Canadian investors because Kalahari owns 43% of Toronto-listed Extract Resources Ltd., which controls the giant Husab uranium project (formerly Rössing South) in Namibia. This project already has a contentious history. Read more

Uranium One completes historic Russia offering

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By Peter Koven

For a precedent-setting transaction, it went as smoothly as could be hoped.

Uranium One Inc. made history on Thursday by completing a US$463.5-million bond offering in Russia. It is the first time a foreign company has issued debt on Russian soil, and according to Toronto-based Uranium One, it should not be the last. Read more

China Guangdong Nuclear Offers $990 Million for Kalahari

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By Jesse Riseborough

China Guangdong Nuclear Power Group Co. bid 632 million pounds ($990 million) to buy Kalahari Minerals Plc as it seeks control of the world’s fourth-biggest uranium deposit in Namibia.

Guangdong Nuclear offered 243.55 pence a share for London- based Kalahari, a statement today from China’s second-largest reactor builder shows. Kalahari’s 43 percent holding in Australia’s Extract Resources Ltd. is its biggest asset. Read more

India seeks uranium mining assets

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By Shivom Seth

Energy hungry India is seeking opportunities to own uranium mining assets abroad. Even as it is looking to access uranium directly from South Africa, India is also eager to scout for uranium mines in Australia, once the country reverses its policy against sale of the nuclear fuel.

“Following the International Civil Nuclear Cooperation, we see an opportunity to own uranium assets. Read more

Kazakhstan: world’s largest uranium miner

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By John C.K. Daly

Kazakhstan’s international energy image is now that of one of the world’s rising oil exporters, an extraordinary feat given that, two decades ago its hydrocarbon output was beyond insignificant when the USSR collapsed. The vast Central Asian nation, larger than Western Europe, has now quietly passed another energy milestone. Read more

India in hunt for uranium assets as Australia is seen as ‘investor-friendly’

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By Amanda Hodge

Queensland’s Mary Kathleen looks to uranium future

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By Rosanne Barret

BACK when uranium was being mined in Queensland, the northwestern town of Mary Kathleen was a bustling community of 400, complete with a primary school, orchards and homes.

Now it’s a ghost town. Read more

Lifting of ban on uranium exports to India has huge implications for Australia

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By  Ross Louthean

With American President Barack Obama flying out of Australia today after a whirlwind 27 hour visit, Australian Prime Minister Julia Gillard must now put some hard lobbying into her plan to overturn a ban on supplying uranium to India.

This US President’s visit was a sequel to a meeting of Pacific Nations, Australia and the US in Hawaii that led to wonderful talk about new relationships, Read more

Gillard Seeks to Open Uranium Exports to India in Reversal of Party Policy

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By Phoebe Sedgman

Prime Minister Julia Gillard is seeking to overturn a ban on Australian uranium exports to India, risking a battle with her Labor Party and the Greens as she tries to strengthen diplomatic ties and boost the economy.

“Selling uranium to India will be good for the Australian economy and good for Australian jobs,” Gillard told reporters in Canberra today. She called on Labor members to back the policy shift at the party’s national conference next month. Read more

Writedown hits Paladin profit from uranium sales

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Uranium One attempts first foreign bond deal in Russia

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By Peter Koven

The Russian capital markets are not the usual stop for foreign companies looking to raise money. But Canadian miner Uranium One Inc., which is controlled by a state-owned Russian firm, forged new ground on Friday by unveiling a plan to issue US$950-million of bonds in Russia.

Needless to say, this is a unique deal. Read more

China tipped to shake up global uranium market

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By Sarah-Jane Tasker

Uranium rules could face challenge

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By Peter Koven

Rio Tinto Ltd.’s takeover bid for Hathor Exploration Ltd. throws out a potential challenge to a federal government policy that limits foreign ownership in Canada’s uranium sector.

On Wednesday, the London-based mining giant made a friendly $578-million offer for Hathor, trumping a hostile bid from Cameco Corp. and triggering speculation of a prolonged takeover battle. Hathor’s Roughrider project, located in Saskatchewan’s Athabasca Basin, is considered one of the world’s best undeveloped sources of uranium. Read more

Hathor’s Roughrider uranium deposit could become one of world’s lowest cost mines

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Hathor Exploration said a preliminary economic assessment (PA) of its flagship Roughrider uranium deposit showed it would potentially be one of the lowest cost uranium producers in the world.

The junior uranium company is the target of a hostile bid from Canada’s top uranium miner Cameco Corp Read more

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