Uranium

BHP scouts Saskatchewan’s uranium

Vietnam Asks Canada’s NWT to Assess Country’s Potential for Uranium Mining

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By Jason Folkmanis

Vietnam’s Atomic Energy Institute signed an agreement with Canada’s NWT Uranium Corp. to assess the uranium potential of the Southeast Asian nation, which is preparing to develop a nuclear power industry.

The agreement between Toronto-based NWT and the Vietnamese institute calls for the Canadian company to analyze uranium ore in the country, including assessing the economic and technical feasibility of any reserves found, NWT said in a stock exchange statement released yesterday. Read more

India’s NALCO looking for Uranium in Namibia

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By Shivom Seth

India’s largest state-owned company, the National Aluminium Company (NALCO) is planning to scout around for uranium assets in Namibia. The company is eyeing uranium for the nuclear power plant it plans to set up on the east coast of India, in Orissa’s Ganjam district. The plant will be set up jointly with the Nuclear Power Corporation of India Limited (NPCIL).

Nalco is one of the largest producers of power in Orissa with a 1200 MW captive thermal power plant near its aluminium smelter at Angul, in the state of Orissa. Read more

AngloGold Planning to Increase Production of Uranium, Business Day Reports

Uranium price rise expected as Extract moves ahead with Rossing South

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By Lawrence Williams

In a presentation to the Africa Downunder conference in Perth, Extract Resources CEO, Jonathan Leslie was predicting higher uranium prices as burgeoning demand and shortage of supply would see it moving up from its current trading range.  Given the company is exploring, and developing, what is already estimated to be the world’s fifth largest uranium resource at Rossing South in Namibia – and it is still growing – a degree of price optimism doesn’t go amiss, but Leslie’s views are echoed by uranium analysts around the world.  Read more

Paladin Energy Targets First Uranium Deliveries to China in 2011, CEO Says

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By James Paton

Paladin Energy Ltd. said it is targeting uranium shipments to China in 2011 after signing a preliminary accord with the nation’s second-biggest builder of nuclear power plants.

Paladin, the Australian mining company producing uranium in Africa, aims to convert a memorandum of understanding with China Guangdong Nuclear Power Group Co. Read more

Will Australian uranium begin to flow to India?

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By Shivom Seth

Australia is keen to resume negotiations with New Delhi on uranium exports to India, given the possibility of the Abbott government coming to power. The huge swing away from the ruling Labor Party has almost ensured this, as Australia battles the nation’s second hung parliament in its Federal history. Read more

Extract Resources upgrades Rossing South resource

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By David Fickling

EXTRACT Resources has upgraded the resource at Rossing South, in some parts a tenfold rise.

The company said that indicated resources, the most accurate broad measure of underground material, showed 257 million pounds of uranium oxide at zones one and two of the site in Namibia. Read more

Russian CEO faces hard sell for Uranium One control

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By Peter Koven

Vadim Zhivov has a tough job to do: explaining to Uranium One Inc.’s investors that a state-owned Russian company has exactly the same goals that they do.

Mr. Zhivov is general director of JSC Atomredmetzoloto (ARMZ), the Russian uranium giant acquiring a controlling stake in Uranium One in exchange for cash and prized assets. He is in the midst of a busy marketing campaign to explain the benefits of the deal, announced in early June, to uncertain shareholders, who are to vote on it at the end of this month. Read more

Abbott to allow uranium exports to India

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By Rachel Pannett and David Winning

TONY Abbott will open up uranium exports to India if he wins power in the August 21 federal election.

The leader of the opposition told reporters that Australia’s relationship with India has been “badly mishandled” by the ruling Labor government. Read more

Rising uranium demand still can’t outpace supply

From the Globe and Mail

Uranium was all the rage during the last mining boom, when supply shortages spurred investors to drive up the price to record highs.

Instead, in a repeat of a uranium runup in the late 1970s, the hype proved overblown, sending prices down sharply and leaving a glut of the silvery element on the market.

Now, another round of uranium excitement is building as producers, led by such giants as Saskatchewan-based Cameco Corp., are hoping a major nuclear-energy push in places such as China and India will kick-start demand and put an end to three years of falling prices.

Russia also has its own plans for nuclear power domination, which experts say could bring some much-needed structure to a market that has been languishing from oversupply.

That may also help prevent another repeat of the boom-bust cycle, as investors are expected to consider more carefully the latest hype surrounding the radioactive metal.

Read the rest by clicking HERE.

Uranium Prices Have `Limited Upside’ With Market in Surplus, CRU Forecasts

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By Anna Stablum

Uranium supplies will exceed demand through 2012 and there is “limited upside” to prices for at least six months, London-based research company CRU said.

Nuclear power plants, the biggest consumer of uranium, are “well covered” with supplies, CRU associate consultant Richard Schodde said in a presentation today for the Australian Uranium Conference in Fremantle, Western Australia. Prices have dropped 6.2 percent this year to $41.75 a pound, according to Roswell, Georgia-based Ux Consulting Co. Read more

India’s growing appetite for uranium

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India is keen to shore up its uranium stockpile. Even as several state-owned firms identify mineral assets and are in the midst of floating separate ventures in foreign countries to buy out uranium reserves to feed the country’s voracious appetite for power and to maintain energy security, the Asian major’s civil nuclear plants are set to benefit from imports from friendly countries. Read more

Uranium Bottoming as China Buys Supplies From Cameco (Update2)

China is buying unprecedented amounts of uranium, signaling that prices are poised to rebound after three years of declines.

The nation may purchase about 5,000 metric tons this year, more than twice as much as it consumes, building stockpiles for new reactors, according to Thomas Neff, a physicist and uranium- industry analyst at the Massachusetts Institute of Technology in Cambridge. Prices will jump by about 32 percent next year, the most since 2006, RBC Capital Markets said. Read more