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Uranium News

Paladin in talks with lenders as debt repayment deadline looms and mine sale is delayed

By: Esmarie Swanepoel     1st December 2016 Uranium miner Paladin Energy has initiated discussions with key stakeholders, including certain of its convertible bond holders, regarding its upcoming debt repayments as the planned sale of a stake in its mine in Namibia has been delayed. The miner has to repay $212-million at the end of April. 

Capital expenditure to continue downward trend

By: Henry Lazenby     29th November 2016 Despite a modestly more buoyant outlook for key metal prices, mining capital expenditures (capex) are expected to continue on a downward slide over the next three years as miners seek further cost cuts and to improve operational margins, according to analysis by Fitch Group research arm BMI.... 

Capital expenditure to continue downward trend

Berkeley doubles uranium sales in Spain

By: Esmarie Swanepoel     28th November 2016 Uranium developer Berkeley Energia has signed an offtake agreement with commodity trader Interalloys trading for the sale of first production from the Salamanca mine, in Spain. The offtake agreement followed a letter of intent (LoI), which was signed in September. 

Berkeley doubles uranium sales in Spain

SNC-Lavalin wins Argentina nuclear consulting contract

By: Henry Lazenby     26th November 2016 TSX-listed engineering and construction group SNC-Lavalin has won a pre-project contract from Argentina's Nucleoeléctrica Argentina (NA-SA) for the CANDU nuclear new build project at the Atucha site in the district of Zàrate. The six-month contract will allow SNC-Lavalin to engage with suppliers... 

Discredited DMR making ill-considered demands on struggling industry

By: Martin Creamer     25th November 2016 The Department of Mineral Resources (DMR) is making ill-considered demands that have little hope of being met. Instead of following the continent’s African Mining Vision and Zambezi Protocol, the DMR is going out on a dictatorial limb. 

Discredited DMR making ill-considered demands on struggling industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter and Chamber of Mines Senior Executive Public Affairs and Transformation Tebello Chabana

Busa concerned about Eskom, govt misalignment on nuclear component of IRP 

By: Terence Creamer     24th November 2016 Business Unity South Africa (Busa) expressed concern on Thursday about a seeming lack of alignment between government and Eskom on the nuclear component of the newly released draft base case of the Integrated Resource Plan (IRP). In a statement welcoming the Department of Energy’s (DoE’s)... 

Busa concerned about Eskom, govt misalignment on nuclear component of IRP

DMR appointment causes concern

By: Martin Creamer     23rd November 2016 Mineral Resources Minister Mosebenzi Zwane has controversially made a key appointment within the Department of Mineral Resources (DMR) on the grounds that it is only temporary.   Earlier this month, the Democratic Alliance (DA) Shadow Minister of Mineral Resources, James Lorimer MP, requested... 

DMR appointment causes concern
DA Shadow Minister of Mineral Resources James Lorimer MP

Uranium prices continue downward creep as buyers await bargains

By: Henry Lazenby     22nd November 2016 Uranium oxide prices remain under significant pressure as a significant contango persists and falling spot prices are pulling the long-term contract price lower. “There’s a price-off bias. Customers believe if they wait a bit longer they will realise a lower price,” Canadian uranium miner... 

Uranium prices continue downward creep as buyers await bargains

Rights NGO raises concerns about impact of mining on Malawi near-mine communities

By: Ilan Solomons     18th November 2016 Malawi’s government has failed to protect the rights and livelihoods of people living in nascent mining communities, states independent human rights organisation Human Rights Watch (HRW). The organisation alleges that families living near coal and uranium mining operations face “serious problems”... 

Rights NGO raises concerns about impact of mining  on Malawi near-mine communities
CONCERNING CONSEQUENCES Families living near coal and uranium mining operations, in Karonga district, face ‘serious problems’ with water, food and housing

As DoE prepares to release IRP, all eyes will be on nuclear 

By: Terence Creamer     17th November 2016 The Department of Energy (DoE) will on Tuesday November 22 release the long-waited draft of the updated Integrated Resource Plan (IRP) for electricity, as well as the draft Integrated Energy Plan (IEP). The release, which will take place in Pretoria, follows the Cabinet decision of November 2,... 

As DoE prepares to release IRP, all eyes will be on nuclear
The Koeberg nuclear power station, in the Western Cape

Business, labour need to combine as errant DMR turns dictator

By: Martin Creamer     17th November 2016 The point has been made that mining business and labour have never been closer than now and that they need to make use of the current window of opportunity to establish a better foundation between themselves so that they can collectively shame the government into moving mining forward for the... 

Business, labour need to combine as errant DMR turns dictator
Chamber of Mines CEO Roger Baxter

Plateau clears first social hurdle on road to project permitting

By: Henry Lazenby     17th November 2016 Project developer Plateau Uranium has passed the first major milestone on the way to production permitting and a full environmental impact assessment (EIA) study for its Macusani uranium project, in Peru. Andean communities and the Peruvian Environmental Authority has accepted and approved the... 

Eskom board member with Gupta links and named in probe resigns

By: Bloomberg     16th November 2016 Mark Pamensky, who is a director of a company owned by South Africa’s Gupta family that has ties with President Jacob Zuma’s son, resigned as a board member at state-owned Eskom Holdings, less than a week after the utility’s chief executive officer’s quit. Recommendations will be made to the... 

Paladin's Manyingee sale moves ahead

By: Esmarie Swanepoel     15th November 2016 Uranium miner Paladin Energy has inked a sale of tenement agreement with ASX-listed MGT Resources over the Manyingee mining lease, in Western Australia. The two companies in July this year signed a binding term sheet under which MGT will acquire a 75% interest in the Mayingee project for... 

Namibia mine sale delayed – Paladin Energy

By: Esmarie Swanepoel     11th November 2016 Uranium miner Paladin Energy has warned shareholders of a delay in the completion of the sale of a 24% interest in the Langer Heinrich mine, in Namibia, to a Chinese company. The dual-listed firm is selling a 24% interest in Langer Heinrich to CNNC Overseas Uranium Holdings and up to 75% of its... 

Namibia mine sale delayed – Paladin Energy

Miners set to cash in on Trump's White House

By: Reuters     10th November 2016 Mining companies led gains on London's FTSE bluechip index on Wednesday as Republican Donald Trump's victory in the US presidential election spurred hopes for higher metal demand and drove investors to buy gold as a shelter against economic uncertainty. The FTSE mining index rose around 5% to... 

DMR must be challenged, good governance must be assured

By: Martin Creamer     7th November 2016 Mining has the wealth-generating potential to boost economies, but countries blessed with a mineral endowment must at least do their bit by assuring good governance. Regrettably, against the background of the recently released 'State of Capture' report of former Public Protector Thuli Madonsela,... 

DMR must be challenged, good governance must be assured
Photo by Duane Daws
Former Public Protector Thuli Madonsela

China uranium demand to double by 2020 but prices seen depressed – CNNC

By: Reuters     7th November 2016 Chinese demand for uranium is expected to nearly double to 9 800 t/y by 2020 from the end of 2015, although a near-term supply glut will keep prices depressed, said the head of a unit of state-owned China National Nuclear Corporation (CNNC). China is in the middle of a nuclear reactor building... 

Tanzania's President Magufuli says plans tighter mining laws

By: Reuters     7th November 2016 Tanzania plans to further tighten controls on its mining sector to ensure that the country maximises the benefits from its wealth of natural resources, President John Magufuli said on Friday. Africa's fourth-largest gold producer also has vast deposits of natural gas, coal, diamonds, uranium and... 

Foreign demand still drives African mining

By: Sascha Solomons     4th November 2016 Africa’s mining and quarrying activities continue to be characterised by export-oriented activities and, as a result, the mining sector of this mineral-rich continent is driven primarily by the commodities appetite of the world’s largest economies. “While this is great for mining States in Africa... 

Foreign demand still drives African mining
JACQUES ERASMUS To become globally competitive, emerging economies in Africa are looking to leverage the latest technological advancements

Cameco sees strong Q3 despite new contract price lows

By: Henry Lazenby     3rd November 2016 Uranium miner Cameco has reported a strong third-quarter profit despite spot market and contract prices falling to new lows. As at the end of the September quarter, the average reported spot price was $23.00/lb, down $3.70/lb from the previous quarter. 

Cameco sees strong Q3 despite new contract price lows

Mining decline will continue unless new minerals Bill changed – Lorimer 

By: Martin Creamer     2nd November 2016 The decline of South Africa’s mining sector will continue unless the new Mineral and Petroleum Resources Development Act Amendment Bill – passed by the National Assembly on Tuesday – is radically changed, says Democratic Alliance Shadow Mineral Resources Minister James Lorimer MP. The Bill, sent... 

Mining decline will continue unless new minerals Bill changed – Lorimer
The Democratic Alliance’s Shadow Mineral Resources Minister James Lorimer MP

Ontario invests C$2.5m in mining R&D; Minister outlines progress to position province as mining leader

By: Henry Lazenby     2nd November 2016 The Ontario government on Tuesday announced that it would invest C$2.5-million in the Centre for Excellence in Mining Innovation's (CEMI's) ongoing work with the Ultra Deep Mining Network (UDMN), which is helping the mining sector develop and adopt commercially viable innovations. Part of a... 

Ontario invests C$2.5m in mining R&D; Minister outlines progress to position province as mining leader
Photo by Ontario Ministry of Northern Development and Mines
Minister of Northern Development and Mines Michael Gravelle addresses the Mining Innovation Summit 2016, held in Sudbury

Qld gets tough on Ben Lomond

By: Esmarie Swanepoel     31st October 2016 The Queensland government has issued an environmental protection order (EPO) to privately-held Uranium Mineral Ventures dealing with the Ben Lomond uranium mine. The EPO was issued by the Department of Environment and Heritage Protection (EHP) to further strengthen safeguards against any release... 

Bannerman raises cash for Etango

By: Esmarie Swanepoel     28th October 2016 ASX-listed Bannerman Resources has raised A$4-million through a share placement to institutional and sophisticated investors to advance work at the Etango uranium project, in Namibia. Some 133.3-million shares, at a price of 3c each, were issued to raise the capital. 

Bannerman raises cash for Etango

Shell launches diluent for North American market

By: David Oliveira     28th October 2016 At this year’s MINExpo International, which took place last month in Las Vegas, in the US, global petrochemicals group Shell launched its ShellSol 2046NA solvents extraction diluent tailored for the North American market. Shell global business development manager Monica Karamagi explains that... 

Boss starts PFS at Honeymoon

By: Esmarie Swanepoel     26th October 2016 A prefeasibility study (PFS) has been launched at the Honeymoon uranium project, in South Australia, with completion of the study targeted for the second quarter of 2017. ASX-listed Boss Uranium said on Wednesday that the PFS would consider opportunities to further optimise the process route and... 

Caterpillar’s Q3 profit sags, casts dim outlook with lowered 2016 guidance 

By: Henry Lazenby     26th October 2016 The world’s largest earthmoving and mining equipment manufacturer Caterpillar has booked a sharply lower third-quarter profit, citing global economic weakness and an abundance of used equipment available, which is slowing sales. The NYSE-listed company expressed concern that the tough market... 

Caterpillar’s Q3 profit sags, casts dim outlook with lowered 2016 guidance

Fission reports growing high-grade resource to the west

By: Henry Lazenby     24th October 2016 Explorer Fission Uranium has confirmed new high-grade mineralisation at the R840W zone, currently outside of the Triple R resource area, and also at the main R780E zone, beneath the Triple R deposit, at its Patterson Lake South (PLS) property, located in Canada's Athabasca basin region. The... 

Deep Yellow appoints Borshoff as new head

By: Esmarie Swanepoel     24th October 2016 Uranium developer Deep Yellow has appointed John Borshoff CEO and MD, effective immediately, to succeed outgoing MD Greg Cochran. Borshoff stepped down as CEO of uranium miner Paladin Energy in August 2015 after founding the company some 21 years before. 

Difficult partner search jeopardises Areva State rescue

By: Reuters     20th October 2016 French Areva is struggling to find a buyer for its new nuclear fuel unit, analysts and sources said, a key condition for the European Union to clear a State rescue package for the group, hit by years of losses. Experts say third-party investment would prove to the European Commission that the new... 

Acid mine water quick-fix possible as water deficit looms, Oppenheimer, De Beers told 

By: Martin Creamer     19th October 2016 Water-constrained Gauteng may see an acid mine drainage (AMD) quick-fix in order to save the fresh water from the Lesotho Highlands Water Project from being wasted on AMD dilution instead of being available to the economy, environmental adviser Dr Anthony Turton said on Wednesday. Delivering the... 

Acid mine water quick-fix possible as water deficit looms, Oppenheimer, De Beers told
Photo by Duane Daws
Environmental adviser Dr Anthony Turton

Paladin lifts Q3 uranium output as Langer Heinrich output rises, costs fall

By: Henry Lazenby     18th October 2016 Despite Australia-based uranium producer Paladin Energy lifting saleable uranium output by 16% in the quarter ended September 30, it missed its sales guidance by 50 000 lbs of uranium oxide (U3O8), citing a re-timing of sales negatively influencing results. Total sales for the quarter amounted to... 

Paladin lifts Q3 uranium output as Langer Heinrich output rises, costs fall
Langer Heinrich, Namibia

Peninsula gets more cash for Lance

By: Esmarie Swanepoel     14th October 2016 Uranium producer Peninsula Energy has signed agreements with shareholders Resource Capital Fund and Pala Investments for a further $5-million in project funding. The ASX-listed company said on Friday that existing convertible loans with the two shareholders would increase from $15-million to... 

Peninsula gets more cash for Lance

Global decrease in exploration activity

     14th October 2016 Lower commodity prices, market instability, reduced investment and increased environmental awareness, have been cited as reasons for the global decrease in exploration activity by scientific agency for natural sciences the US Geological Survey (USGS). The agency released its yearly report on... 

Global decrease in exploration activity
EXPLORATION EMPHASIS Global exploration activity last year predominantly comprised of gold and copper exploration

Malawi starts geological mapping programme

     14th October 2016 Malawi has signed an agreement with a consortium of geological survey organisations for a countrywide Geological Mapping and Mineral Assessment Project (Gemmap) to assist in the growth of the minerals sector by providing detailed references for mineral exploration and mine planning. The... 

Malawi starts geological mapping programme
HIDDEN GEMS? In its efforts to boost mineral exploration and mining revenue, the Angolan government has launched a mapping project to discover untapped mineral reserves

Technological innovation will drive new exploration strategies  

By: Nadine James     14th October 2016 Increased innovation in analytical instrumentation and unmanned aerial vehicle, or drone, technology will further enhance the means and cost of exploration, thereby enabling the development of new exploration strategies, says mining consultancy The MSA Group. Oxford University and University of... 

Technological innovation will drive new exploration strategies
A NEED FOR INNOVATION New technologies could reduce the cost of greenfield exploration, which would hopefully result in an increase in activity which has been declining for several years

Mining juniors poised for recovery – PwC

By: Henry Lazenby     13th October 2016 Junior mining companies make up more than 50% of the total market capitalisation on the TSX Venture Exchange, up from 36% on June 30, 2015, a new report by professional services firm PwC has found. As evidenced in PwC Canada's 2016 Junior Mine report, titled ‘Signs of Life’, cash flows from... 

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