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Vimy adds to Mulga Rock resource

By: Esmarie Swanepoel Uranium developer Vimy Resources, previously known as Energy and Minerals Australia, has reported a 60% increase in the resource estimate at Princess deposit, at its Mulga Rock uranium project in Western Australia. The Princess deposit is now estimated to host a resource of 3.8-million tonnes,... 

Peninsula secures funding for Lance construction

By: Esmarie Swanepoel US-focused Peninsula Energy has signed a $69.4-million funding deal to fund the remaining construction and Stage 1 ramp-up of its Lance uranium project, in Wyoming. The fully underwritten institutional funding included a $16.8-million placement to Resource Capital Fund, with the shares priced at... 

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open for business’ approach and myriad investment opportunities – in terms of greenfield and brownfield projects across the commodity spectrum –... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

Strateco Resources files motion to sue Quebec government for $190m

By: Henry Lazenby Uranium explorer Strateco Resources is claiming C$190-million from the Quebec government in a motion it filed with the Superior Court of Quebec on Thursday to institute proceedings. Boucherville, Quebec-based Strateco was seeking damages for the loss of its mothballed flagship Matoush project, in... 

Strateco Resources files motion to sue Quebec government for $190m

Australia may export uranium and coal to Ukraine

By: Esmarie Swanepoel Australian Prime Minister Tony Abbott on Thursday raised the possibility of Australia exporting uranium and coal to the Ukraine, in an effort to relieve its reliance on Russia for gas. Abbott said in a press conference that he had discussed the possibility of exports with Ukrainian President... 

FIRB approves Toro investment

By: Esmarie Swanepoel The Foreign Investment Review Board (FIRB) has approved a A$10-million investment into uranium developer Toro Energy’s Wiluna project, in Western Australia. Last month, Toro executed a binding unitisation agreement with investor The Sentient Group, which would subscribe for 125-million shares in... 

Mulga Rock open for public comment - EMA

By: Esmarie Swanepoel Uranium developer Energy and Minerals Australia (EMA) has called for public opinion on the environmental scoping document for its Mulga Rock project, in Western Australia. The environmental scoping document formed part of the ongoing environmental evaluation for the proposed A$300-million... 

China General Nuclear uranium unit looking to invest in Canada - official

By: Reuters The uranium subsidiary of China General Nuclear Power Corp (CGN), one of the country's two state reactor builders, is looking to invest in mines in Canada "in the near future", an official with the firm said on Friday. "Canada's uranium reserves are amoung the largest in the world and we hope to... 

Peninsula signs US offtake deal

By: Esmarie Swanepoel Uranium miner Peninsula Energy has entered into a sales agreement with a US power utility to supply up to 912 500 lb of uranium between 2016 and 2024. Peninsula said on Wednesday that the agreement contained a base price that was consistent with the current term contract price reported by... 

Alliance hopes to raise funds

By: Esmarie Swanepoel ASX-listed Alliance Resources was hoping to raise about A$4.96-million through a nonrenounceable rights issue, offering shareholders two new shares for every 11 shares held, at 8c each. The rights issue represented a 23.8% discount to the company’s last closing price and a 27.2% discount to the... 

Mining, independence at stake as Greenland goes to the polls

By: Reuters Greenlanders go to the polls on Friday with hopes for a mineral-rich independence from Denmark foundering on the reality of a tiny, shrinking economy. The fall of premier Aleqa Hammond last month in an expense scandal has muted the nationalist rhetoric that promised independence based on wealth... 

Miners ask court to lift ban on uranium mining near Grand Canyon

By: Reuters The American mining industry is asking a federal appeals court to overturn a ban on new uranium mining claims near the Grand Canyon in a legal battle with environmentalists over impacts on the premier US park. In 2012, the Obama administration set aside for 20 years new mining claims and limited... 

Forsys reports positive metallurgical results for Namibia project

By: Creamer Media Reporter SGS South Africa has completed a metallurgical study on Namibia-focused uranium explorer Forsys Metals’ Norasa project, which comprises the Valencia and Namibplaas projects. The metallurgical study was a major component of the feasibility study (FS) for the project, which was being prepared by... 

SA meets more nuclear vendors amid ‘costly diversion’ criticism 

By: Terence Creamer The Department of Energy (DoE) confirmed on Wednesday that the second nuclear vendor parade workshop, which took place at a venue in the Drakensberg, had been concluded with delegations from China, France, South Korea and the US. The first such workshop, which was also held in the Drakensberg in... 

SA meets more nuclear vendors amid ‘costly diversion’ criticism
Photo by Duane Daws
Professor Anton Eberhard

Paladin raises A$50m

By: Esmarie Swanepoel Uranium miner Paladin Energy has completed an accelerated institutional component of its A$144-million entitlement offer, raising about A$50-million, with more than 86% of entitlements taken up. The dual listed miner said on Wednesday that the new shares, which were priced at 26c each, would... 

Paladin embarks on sweeping recapitalisation exercise

By: Natalie Greve Uranium producer Paladin Energy has announced a throng of measures aimed at recapitalising the company and addressing its long-term funding requirements, including the convertible bonds due in November next year. Following these and other initiatives, which were due to be implemented in early... 

Cameco not eager for sales contracts at current prices – CEO

By: Reuters Canadian miner Cameco Corp is not interested in signing long-term uranium sales contracts at current prices, and utilities who buy the radioactive material to power nuclear reactors are also cautious, CE Tim Gitzel said on Friday. Gitzel said despite the recent bounce in uranium prices, Cameco... 

Kibo to restart uranium activities

By: Natasha Odendaal Dual-listed Kibo Mining is set to develop its currently idled uranium assets, in Tanzania, through a 50:50 joint venture (JV) partnership with Metal Tiger. The binding memorandum of understanding (MoU) inked this week with Aim-listed Metal Tiger would allow Kibo to pull the Pinewood portfolio out... 

Alliance to withhold Four Mile capex contribution

By: Esmarie Swanepoel The board of ASX-listed Alliance Resources on Thursday said it had made the decision not to contribute the 2015 capital expenditure planned for the Four Mile uranium project, in South Australia. Earlier this month, Alliance lodged a grievance with the Supreme Court of Australia against joint... 

Heap leaching may lower Olympic Dam costs – BHP Billiton CEO

By: Esmarie Swanepoel Diversified miner BHP Billiton CEO Andrew Mackenzie said on Thursday that the miner was investigating heap leaching opportunities at the Olympic Dam operation, in South Australia, as a gateway to expansion. Speaking at the company’s annual general meeting, Mackenzie told shareholders that heap... 

Heap leaching may lower Olympic Dam costs – BHP Billiton CEO
Photo by Bloomberg
BHP CEO Andrew Mackenzie

Uranium One posts larger Q3 adjusted loss, regains Kazakhstan permits

By: Henry Lazenby Canadian uranium producer Uranium One on Friday reported a bigger adjusted net loss for the three months ended September 30, as production faltered in Kazakhstan owing to permitting issues. The Toronto-headquartered company, with a globally diversified portfolio of assets in Kazakhstan, the US,... 

Alliance turns to Supreme Court to gain control of Four Mile production

By: Esmarie Swanepoel ASX-listed Alliance Resources has taken its grievance with project partner Quasar Resources to the Australian Supreme Court, in an effort to gain control of its share of production from the Four Mile uranium mine, in South Australia. Earlier this week, Alliance announced that Quasar had passed... 

Four Mile budget passes without Alliance approval

By: Esmarie Swanepoel ASX-listed Alliance Resources has failed to impede joint venture partner Quasar Resources from passing the 2015 programme and budget for the Four Mile uranium project, in South Australia. A majority vote at the end of last week passed the 2015 programme and budget, entailing the production of... 

SA signs nuclear agreement with China, gears up for workshop with French 

By: Terence Creamer In what is now the fourth such agreement, Energy Minister Tina Joemat-Pettersson signed an ‘Inter-Governmental Framework Agreement on Nuclear Cooperation’ on Friday with China’s National Energy Administration director Wu Xinxiong. Similar agreements have been signed with South Korea, France and... 

SA signs nuclear agreement with China, gears up for workshop with French
Photo by Duane Daws
Energy Minister Tina Joemat-Pettersson

Strateco gains Australian uranium ally

By: Henry Lazenby Uranium explorer Strateco Resources has agreed to a transaction that will see shareholder the Sentient group offload a 19.8% equity interest in the company to Toro Energy, which has a promising uranium project in Western Australia. Under the terms of the deal, Sentient had agreed to subscribe for... 

Toro executes A$10m project level investment

By: Esmarie Swanepoel Uranium developer Toro Energy has executed a binding unitization agreement with investor The Sentient Group, confirming a further A$10-million investment in the Wiluna uranium project, in Western Australia. At the start of the week, Toro announced that Sentient had agreed to subscribe for... 

Toro sharpens Wiluna focus as it secures A$10m cash injection

By: Esmarie Swanepoel Uranium developer Toro Energy on Monday announced that it had entered into a binding financing and asset acquisition agreement with resources investor The Sentient Group, which would deliver a A$10-million capital injection to the ASX-listed junior. Sentient has agreed to subscribe for... 

Cameco stock slides on production woes, expects possible 5% revenue dip

By: Henry Lazenby TORONTO (miningweekly.com) – Canadian uranium producer Cameco on Wednesday reported weaker-than-expected third-quarter results to shareholders, as labour and operational issues at two of its significant mines impacted on output and prompted the company's TSX-listed stock to trend lower. The... 

Cameco stock slides on production woes, expects possible 5% revenue dip

Russia kicks off South Africa’s ‘nuclear vendor parade’ 

By: Terence Creamer The Department of Energy (DoE) reported on Thursday night that it had concluded its first “nuclear vendor parade workshop” with a delegation from the Russian Federation and that further meetings were planned with vendor countries such as France, China, South Korea, the US and Japan. The workshop,... 

Russia kicks off South Africa’s ‘nuclear vendor parade’
Rosatom logo

Govt-ordered Ranger mine spill report published

By: Esmarie Swanepoel The federal and Northern Territory governments have released the findings of an independent expert report into the leach tank failure at uranium miner Energy Resources of Australia (ERA’s) Ranger mine, in the Northern Territory. The government-ordered independent report, released this week, has... 

Paladin’s Langer Heinrich output below forecast

By: Esmarie Swanepoel September quarter production from the Langer Heinrich mine, in Namibia, was significantly lower than expected, as unforeseen issues with process circuit scaling exacerbated production losses from planned maintenance, ASX- and TSX-listed Paladin Energy reported. The uranium miner had previously... 

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