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Uranium News

Updated study cuts Wiluna’s projected costs

By: Esmarie Iannucci     7th March 2019 An updated scoping study for the Wiluna uranium project, in Western Australia, has reduced the potential capital cost from A$91.6-million to A$87.9-million. Projected operating costs have also been reduced from A$16.08/lb of uranium dioxide (U3O8), to A$14.59/lb. 

Kazatomprom expects revenue to grow this year

By: Reuters     6th March 2019 Kazakh uranium miner Kazatomprom expects further revenue growth this year on higher prices, it said on Wednesday after posting a 112% jump in 2018 adjusted net profit on higher sales volumes and prices. London-listed Kazatomprom's net income adjusted for one-off transactions stood at... 

Paladin approves restart PFS in Namibia  

By: Esmarie Iannucci     26th February 2019 The board of ASX-listed Paladin Energy has approved a prefeasibility study (PFS) probing the restart of its Langer Heinrich mine, in Namibia, after a concept study identified a number of options to reduce operating costs, improve uranium process reliability, and to potentially recover a saleable... 

Honeymoon resources soar

By: Esmarie Iannucci     26th February 2019 Uranium hopeful Boss Resources has reported a 149% increase in the measured and indicated mineral resource estimate at its Honeymoon restart area, in South Australia. Measured and indicated resources at estimated at 27-million pounds of uranium oxide (U3O8), with the overall resource estimate... 

Namibian uranium industry prepares for uptick

By: Mc'Kyla Nortje     22nd February 2019 Amid a depressed market and low uranium prices, the Namibian uranium industry is streamlining operations through process optimisation and undertaking additional exploration, to overcome these challenges and be prepared for when the market improves, says Namibian Uranium Institute (NUI) executive... 

Namibian uranium industry  prepares for uptick
AWAITING BETTER DAYS Any development during 2019 depends entirely on and how quickly the uranium price continues its upward trend.

Xolobeni judgment continues to confound 

By: Martin Creamer     11th February 2019 Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other.  But the... 

Xolobeni judgment continues to confound
Mineral Resources Minister Gwede Mantashe

Uranium market improvements not enough to warrant new supply – Cameco

By: Mariaan Webb     11th February 2019 Canada’s largest uranium miner, Cameco, has cautioned against investing in new uranium mines, saying that “even the promise” of new supply could create a headwind and put downward pressure on uranium prices. The Saskatoon-headquartered company, which last year idled its McArthur River/Key Lake... 

Uranium market improvements not enough to warrant new supply – Cameco

Era faces higher closure/rehab costs for Ranger

By: Esmarie Iannucci     8th February 2019 Uranium miner Energy Resources of Australia (Era) has completed a feasibility study for the closure of its Ranger project, in the Northern Territory. The closure and rehabilitation feasibility study has increased the rehabilitation provision from the A$526-million estimated at the end of 2017,... 

Era faces higher closure/rehab costs for Ranger

Aura signs offtake for Tiris

By: Esmarie Iannucci     29th January 2019 Uranium developer Aura Energy has struck an offtake agreement for 800 000 lb of uranium oxide (U3O8) from its Tiris uranium project, in Mauritania. The agreement with Curzon Uranium Trading will run for a period of seven years, at fixed prices, from the start of production and extendable... 

Paladin continues uranium sales

By: Esmarie Iannucci     17th January 2019 ASX-listed Paladin Energy has continued the sale of its uranium oxide (U3O8) stockpiles during the quarter ended December, with some 475 000 lb U3O8 sold during the quarter at an average price of $31.41/lb. Paladin in May of last year took the decision to place its Langer Heinrich operation, in... 

Berkeley shares surge on media reports

By: Esmarie Iannucci     11th January 2019 The share price of junior Berkeley Energia jumped by more than 63% on Friday, following media reports that its Salamanca uranium project, in Spain, had been approved. The ASX- and LSE-listed company told shareholders that despite the Spanish media reports, the company had received no official... 

Berkeley shares surge on media reports

C$10.3m approved to advance of Wheeler River uranium project

By: Mariaan Webb     18th December 2018 Spurred on by the positive results of its prefeasibility study (PFS) for the Wheeler River project, Canadian uranium company Denison Mines on Tuesday announced that C$10.3-million would be spent on advancing the Athabasca basin project in 2019. The budget, approved by the Wheeler River joint... 

Global uranium supply sufficient to meet future demand – NEA 

By: Marleny Arnoldi     14th December 2018 Intergovernmental agency, the Nuclear Energy Association (NEA), says the world’s supply of uranium is more than adequate to meet projected requirements for the foreseeable future, regardless of the role that nuclear energy will play in meeting future electricity demand and global climate... 

Global uranium supply sufficient to meet future demand – NEA
Cameco's Inkai mine in Kazakhstan

Westwater seeks arbitration over Turkey licences

By: Mariaan Webb     13th December 2018 Nasdaq-listed Westwater Resources said on Thursday that it would seek international arbitration over what it alleged was the illegal taking of its Temrezle and Sefaalti uranium projects by the Turkish government in June this year. Westwater has sought to open a dialogue with the government, but... 

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

Kazatomprom says it has not initiated KASE listing

By: Reuters     12th December 2018 Kazakh uranium miner Kazatomprom has not initiated the admission of shares to the Kazakh Stock Exchange, the company said on Wednesday. The exchange said this week it has opened trading in Kazatomprom shares which had initially been listed on another Kazakh bourse, the Astana International... 

CanAlaska and Cameco team up on West McArthur uranium project

By: Creamer Media Reporter      12th December 2018 Vancouver-based junior CanAlaska and uranium major Cameco have formed a joint venture (JV) on the West McArthur project, 6 km north-west of the McArthur River uranium mine. CanAlaska is the operator and 70% owner of the West McArthur JV, which is located in the Athabasca basin region, dubbed the... 

Paladin optimising Langer Heinrich for potential restart

By: Esmarie Iannucci     6th December 2018 ASX-listed Paladin Energy has launched optimisation studies at its Langer Heinrich uranium mine, in Namibia, in preparation for a restart decision. CEO Scott Sullivan told shareholders on Thursday that the company would consider multiple processing options for the mine in a prefeasibility study... 

Paladin optimising Langer Heinrich for potential restart

Innovate and generate cash at same time – Dassault Systèmes Geovia  

By: Martin Creamer     5th December 2018 The objectives of innovating and generating cash are not mutually incompatible and can be achieved at multiple levels simultaneously, says Dassault Systèmes Geovia Brand CEO Raoul Jacquand, who was in Johannesburg to showcase the French company’s suite of advanced three-dimensional (3D) software.... 

Innovate and generate cash at same time – Dassault Systèmes Geovia
Dassault Systèmes Geovia Brand CEO Raoul Jacquand spoke to Mining Weekly Online’s Martin Creamer on new mining technology. Video: Christo Greyling. Photogaphs: Creamer Media Chief Photographer Dylan Slater.

Miners bear brunt of risk aversion as investors take fright

By: Reuters     5th December 2018 A two-year recovery in the mining industry has faltered, as trade tensions between China and the United States and concerns about economic growth weaken commodity prices and deter investment. Institutional investors and fund managers say tighter regulations, namely MiFID, a major reform of... 

Miners bear brunt of risk aversion as investors take fright

URU's Zebediela licence renewed

By: Creamer Media Reporter      4th December 2018 The Department of Mineral Resources has renewed Aim-listed URU Metals' prospecting right over the Zebediela nickel project, in Limpopo. The right will expire on December 2, 2021. 

Katanga completes hot commissioning of WOL Phase 2

By: Tasneem Bulbulia     4th December 2018 Glencore subsidiary Katanga Mining has successfully completed the hot commissioning of Phase 2 of the whole ore leach (WOL) processing facility at its 75%-owned subsidiary Kamoto Copper Company's (KCC's) copper and cobalt mine in Lualaba province, in the Democratic Republic of the Congo. The... 

Congo begins audit of Glencore unit after cobalt exports halted  

By: Bloomberg     3rd December 2018 The Democratic Republic of Congo’s (DRC's) government began an audit into how radioactive cobalt produced by a Glencore unit left the country before an alarm was raised. The probe places a further strain on relations between the commodity trader and Congo’s government frayed earlier this year by... 

Saudi Arabia targets $64bn in mining revenue by 2030

By: Reuters     26th November 2018 Saudi Arabia aims to raise the kingdom's mining revenues to $64-billion from $17-billion by 2030, Energy Minister Khalid al-Falih said on Monday. Mining vast untapped reserves of bauxite, phosphate, gold, copper and uranium is key to the Saudi Arabia's efforts to diversify its economy away from... 

Rio Tinto sells Namibia uranium mine to China’s CNUC 

By: Esmarie Iannucci     26th November 2018 Global diversified miner Rio Tinto has signed a binding agreement with China National Uranium Corporation (CNUC) to divest of its 68.62% stake in the Rössing uranium mine, in Namibia, for up to $106.5-million. Rio CEO Jean-Sebastian Jacques said on Monday that the transaction represented the... 

Rio Tinto sells Namibia uranium mine to China’s CNUC

Congo State miner wants meeting over Katanga cobalt export halt 

By: Bloomberg     14th November 2018 The Democratic Republic of Congo’s state-owned miner sought an urgent meeting to discuss a decision by Glencore unit Katanga Mining last week to halt cobalt exports. Katanga, controlled by Glencore, announced November 6 it suspended sales from its Kamoto mine in southeast Congo after detecting... 

Congo State miner wants meeting over Katanga cobalt export halt

Glencore's radioactive news may help give cobalt its buzz back  

By: Bloomberg     7th November 2018 Glencore’s sudden discovery that some of its cobalt is radioactive couldn’t come at a better time. After a surge in prices last year, enthusiasm for cobalt has been fading, partly because of a surge in new supply. But sentiment could be changing after Glencore’s unit in the Democratic Republic of... 

Glencore's radioactive news may help give cobalt its buzz back

Virginia uranium-mining ban gets support at top US court

By: Bloomberg     6th November 2018 The US Supreme Court gave a mostly favorable reception to a Virginia law that bans mining at the nation’s largest known uranium deposit, as the justices weighed a challenge pressed by the owners of the property with help from the Trump administration. Hearing arguments in Washington Monday, the... 

NexGen rises on uranium PFS results

By: Mariaan Webb     6th November 2018 Investors have rewarded British Columbia uranium developer NexGen by pushing its Toronto-listed equity up by nearly 14% on Monday, following the release of the prefeasibility study (PFS) results and a mineral resource update of the Arrow deposit in the Athabasca basin in Saskatchewan. The PFS... 

High Court justices grapple with Virginia uranium-mining ban

By: Bloomberg     5th November 2018 US Supreme Court justices grappled with a Virginia law that bans mining at the nation’s largest known uranium deposit, weighing a challenge pressed by the owners of the property with help from the Trump administration. Hearing arguments in Washington, the justices considered whether Virginia’s... 

Cameco says uranium market improves, but still a need for caution

By: Mariaan Webb     5th November 2018 Although the uranium market has showed a “marked” improved over the past year, Canadian uranium major Cameco has cautioned that prices are still nowhere near where they have to be to restart the idled production capacity, let alone incentivise new production opportunities. Significant production... 

Cameco says uranium market improves, but still a need for caution
Cameco CEO Tim Gitzel

Tiris tipped for 2020 start

By: Esmarie Iannucci     30th October 2018 The Tiris uranium project, in Mauritania, is still expected to start production in 2020, ASX-listed Aura Energy said, with the company currently progressing a definitive feasibility study (DFS). A 2014 scoping study estimated that the project would require a capital investment of $45-million,... 

CRA appeals Tax Court decision that found in favour of Cameco

By: Creamer Media Reporter      26th October 2018 Uranium miner Cameco said on Friday that the Canada Revenue Agency (CRA) had appealed the September 26 Tax Court ruling, which found in favour of the miner for the 2003, 2005 and 2006 tax years. This means that it will take at least another two years before the case reaches finality. 

CRA appeals Tax Court decision that found in favour of Cameco
Cameco CEO Tim Gizel

Uranium market's Aramco unveils London IPO despite Trump threat

By: Bloomberg     22nd October 2018 The initial public offering (IPO) of the world’s largest oil producer Saudi Aramco may be on the back burner, but the IPO of its uranium-market equivalent is full steam ahead. Kazatomprom, the world’s No. 1 producer of the nuclear fuel, on Monday said it would list as much as 25 percent of its... 

Kazatomprom confirms plan for London, Astana IPO

By: Reuters     22nd October 2018 The world's biggest uranium miner, Kazakh state firm Kazatomprom, confirmed on Monday its intention to list global depository receipts on the London stock exchange as part of an initial public offering. The company, which announed the preliminary plan last week and said it would also list shares... 

US EPA withdraws proposed Obama-era rule change for uranium mining

By: Reuters     21st October 2018 The US Environmental Protection Agency said on Friday it has withdrawn a regulation proposed in the last days of the Obama administration that aimed to tighten health and safety compliance rules for uranium miners. On January 19, 2017 - a day before Donald Trump took office as president - the... 

US EPA withdraws proposed Obama-era rule change for uranium mining

Paladin revenue drops sharply as Namibia mine shuts down

By: Esmarie Iannucci     19th October 2018 ASX- and TSX-listed Paladin Energy has reported $6.6-million in revenue for the quarter ended December, from the sale of 267 423 lb of uranium oxide (U3O8). The quarterly sales results compared with the $23.6-million in revenue generated from the sale of 1.14-million lb U3O8 in the previous... 

Berkeley plunges on Spain permit uncertainty

By: Mariaan Webb     17th October 2018 The stock of triple listed Berkeley Energia plunged on Wednesday, after news reports that the Spanish government has decided not to issue the permits needed for its Salamanca uranium mine. Berkley, which on Monday alerted investors to a delay in receiving an urbanisation licence, traded nearly... 

Berkeley plunges on Spain permit uncertainty
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