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Uranium News

Western Australia approves Cameco uranium mine for development

By: Esmarie Swanepoel     17th January 2017 The Western Australian government has approved Canada-based uranium major Cameco’s Yeelirrie uranium project, subject to 17 conditions. Considered one of Australia's largest undeveloped uranium deposits, the Yeelirrie project has an estimated resource of 127.3-million pounds.  Cameco is proposing... 

Uranium Resources hopes to raise A$9.7m

By: Esmarie Swanepoel     16th January 2017 Energy metals company Uranium Resources is hoping to raise about A$9.7-million through a public offering of 4.8-million shares at A$2.01 each. Proceeds from the raising will be used to fund ongoing business activities, which Uranium Resources said could include technical studies, capital... 

Lower costs, higher grades are key for U3O8 to attract attention in difficult market

By: Henry Lazenby     14th January 2017 Uranium-focused resource companies paid attention to the changing uranium landscape this week after major producer Kazakhstan said it would curtail output by 10%, pushing spot prices higher. One of them was project developer U3O8 Corp, which is focused on uranium and by-product commodities at its... 

As Kazakh market discipline points to price trough, uranium developers focus on lower costs

By: Henry Lazenby     13th January 2017 News this week that Kazakhstan will curtail its uranium output by about 10% this year has sent spot prices to the highest levels since September, provoking cautious optimism among market observers that the trough has been traversed. “I think that this move signals a fundamental change in... 

As Kazakh market discipline points to price trough, uranium developers focus on lower costs
Photo by Fission Uranium
Fission Uranium chairperson and CEO Dev Randhawa

Production up 17% at Rio Tinto’s Era subsidiary

By: Esmarie Swanepoel     13th January 2017 Uranium miner Energy Resources of Australia (Era) has reported a 17% surge in production for the full year ended December, despite a drop in December quarter production. The Rio Tinto subsidiary on Friday reported that uranium oxide production in the fourth quarter to December reached 603 t,... 

High Court exposes DMR as incompetent, irrational investment obstructor

By: Martin Creamer     11th January 2017 A judgement of the Gauteng division of the High Court of South Africa exposes the Department of Mineral Resources (DMR) as an irrational institution with a high degree of incompetence that obstructs the mining investment it is meant to facilitate, lacks energy in resolving issues, allows appeal... 

High Court exposes DMR as incompetent, irrational investment obstructor

Uranium gains 10% as top producer plans output cut amid glut

By: Bloomberg     11th January 2017 Uranium surged the most in more than three weeks as Kazakhstan said it will reduce production by 10% this year after prices slumped in 2016 amid a global inventory glut. Spot uranium rose $2.25, or 10%, to close at $24.25 a pound on Tuesday, the highest level since September, according to data... 

Energy Fuels mulls options on heels of federal approval for Wyoming uranium project

By: Henry Lazenby     10th January 2017 US-focused uranium producer Energy Fuels is mulling over its options for the Sheep Mountain uranium project, in Wyoming, after receiving a positive federal Bureau of Land Management (BLM) final environmental impact statement (EIS) and record of decision (ROD) for the project. The news sent the... 

Energy Fuels mulls options on heels of federal approval for Wyoming uranium project

Mineral ‘wrongs’ righted 

By: Martin Creamer     10th January 2017 A company that showed diligence in applying for mineral rights ended up getting mineral ‘wrongs’, a court has found. The Gauteng division of the High Court in Pretoria has ruled that Aquila Steel South Africa is entitled to the mineral right that South Africa’s Department of Mineral Resources... 

WA approves Toro’s Wiluna project

By: Esmarie Swanepoel     10th January 2017 Uranium developer Toro Energy has received environmental approval for the extension of its Wiluna project, in Western Australia. The ASX-listed company said this week that Western Australian Environment and Heritage Minister Albert Jacob had approved the revised proposal for the Wiluna project,... 

Paladin in dire straits as offtake partner seeks more security for $200m prepayment

By: Henry Lazenby     5th January 2017 ASX- and TSX-listed uranium producer Paladin Energy on Wednesday reaffirmed that it is not to receive any further cash from offtake partner Électricité de France (EdF), saying that contrary to certain recent erroneous media reports, it was merely updating the market on the contractual process to... 

Paladin in dire straits as offtake partner seeks more security for $200m prepayment

New Year heralds several senior management employments

By: Henry Lazenby     4th January 2017 Early 2017 corporate activity saw a slew of senior management appointments being made by miners. TSX- and NYSE-listed Tahoe Resources has appointed former Goldcorp president and CEO Chuck Jeannes to the board effective January 1. 

New Year heralds several senior management employments
Photo by Bloomberg
Cuck Jeannes

European shares ease as miners, banks fall

By: Reuters     29th December 2016 European shares opened slightly lower on Thursday as miners fell and Italian banks and Credit Suisse led banking shares lower. The pan-European STOXX 600 index was down 0.3%. Volumes were subdued during the last few days of the year. 

European shares ease as miners, banks fall

Scotiabank Commodity Index set to end 2016 on high note

By: Henry Lazenby     21st December 2016 The Bank of Nova Scotia expects its benchmark Scotiabank Commodity Price Index to finish the year up 25%, with all sub-indices showing positive performance, the third largest Canadian banking group said Tuesday. The oil and gas index rose 55% in the year-to-November after both oil and natural gas... 

Scotiabank Commodity Index set to end 2016 on high note
Photo by Bloomberg
The surprise rally of bulk commodities, especially metallurgical coal, has lost some momentum in the final weeks of 2016

Berkeley Energia takes another step towards mine construction

By: Megan van Wyngaardt     20th December 2016 Aim-listed Berkeley Energia on Tuesday said that construction at its 100%-owned Salamanca uranium mine, near Madrid, Spain, will start early next year, following the order of the first major items for the crushing circuit. Proceeds raised from a recent $30-million equity raise have been used to... 

Mintek demonstrates new tailings treatment process

By: David Oliveira     16th December 2016 State-owned research organisation Mintek earlier this month demonstrated its Retreatment Flowsheet for Au and Uranium Tailings, or Reflaut, tailings treatment process at gold miner Gold Fields’ South Deep mine, in Johannesburg. Reflaut has been used at South Deep since last month, and removes... 

Mintek demonstrates new tailings treatment process
Photo by Duane Daws
REFLAUT RETREATMENT Mintek’s Reflaut demonstration plant at South Deep retreats about 200 kg/h worth of tailings, producing about 2 g of concentrate for every ton of tailings

Paladin holds a fire sale

By: Esmarie Swanepoel     15th December 2016 Uranium miner Paladin Energy has divested of a number of its non-core Australian exploration assets to Uranium Africa for A$2.5-million. The assets included the Oobagooma and Angela/Pamela projects, in Western Australia and the Northern Territory respectively, as well as Paladin’s interest in... 

WA Environment Minister amends Wiluna expansion

By: Esmarie Swanepoel     15th December 2016 The Western Australian Minister for Environment has amended certain conditions contained in the Environmental Protection Authority's (EPA's) report for the extension of Toro Energy's Wiluna uranium project, and has added a new condition. The Minister’s response was to appeals lodged against the... 

Uranium Energy receives final mine area permit for Burke Hollow project

By: Henry Lazenby     15th December 2016 Texas-based miner Uranium Energy Corp (UEC) has received a final mine area permit issued by the Texas Commission on Environmental Quality (TCEQ) for its Burke Hollow in-situ recovery (ISR) project, in the south of the state. The Burke Hollow project is the third development as part of the... 

Peninsula raises cash for streamlined strategy

By: Esmarie Swanepoel     9th December 2016 Uranium producer Peninsula Energy has raised A$8.5-million through a share placement, and flagged a possible A$5-million raising through a share purchase plan (SPP), to fund its streamlined strategy for the Lance project, in the US. Peninsula told shareholders this week that 17-million ordinary... 

The hardly recognised coal miners who limited impact of Soviet nuclear disaster

By: Dylan Slater     9th December 2016 It is a little-known fact that a team of coal miners of the former Soviet Union risked their long-term health by playing an integral part in the dangerous task of safemaking, containment and legacy-preparatory works following the Chernobyl nuclear power plant disaster of 1986.  

The hardly recognised coal miners who limited impact  of Soviet nuclear disaster
Photo by Reuters
NEW ERA The existing Chernobyl sarcophagus was re-covered with the recently constructed New Safe Containment shelter to prevent leakage from the existing infrastructure, which is decaying after 30 years of operation

Mintek reveals new tailings retreatment process   

By: David Oliveira     7th December 2016 State-owned research organisation Mintek on Wednesday demonstrated its Reflaut tailings treatment process at gold miner Gold Fields’ South Deep mine, in Johannesburg. Reflaut, which stands for Retreatment Flowsheet for Au and Uranium Tailings, has been used at South Deep since November and... 

Mintek reveals new tailings retreatment process
Mintek Minerals Processing division head of flotation Kevin Pillay discusses the organisation’s new Reflaut tailing retreatment process. Camerawork and Editing: Nicholas Boyd.

Uranium Resources retires debt

By: Esmarie Swanepoel     7th December 2016 ASX-listed Uranium Resources will retire its A$8-million debt due to Resource Capital Fund (RCF). The energy metals developer on Wednesday announced a transaction, which would see an investor purchase an initial A$2.5-million of notes from RCF. These notes would the be exchanged for a share of... 

Laramide, Uranium Resources ink LoI to amend terms of payment

By: Samantha Herbst     6th December 2016 Dual-listed uranium developer Laramide Resources has signed a letter of intent (LoI) with Texas-based miner Uranium Resources to amend the definitive share purchase agreement, signed on April 6, stipulating that Laramide would acquire Uranium Resources’ wholly owned subsidiary Hydro Resources,... 

Berkeley pushes ahead with Salamanca build

By: Esmarie Swanepoel     6th December 2016 Uranium developer Berkeley Energia has completed key land acquisitions that will allow the company to accelerate the development of its Salamanca project, in Spain. Following a $30-million equity raising, Berkeley acquired and leased over 500 ha of land, which will allow for the completion of... 

Indaba invaluable, time-efficient industry barometer – previous delegates

By: Nadine James     5th December 2016 Considered the preferred deal-making platform for mining in Africa, the Investing in African Mining Indaba – scheduled to run from February 6 to 9, in Cape Town – offers invaluable networking opportunities and informative discussions and presentations, contributing to the success of African... 

Indaba invaluable, time-efficient industry barometer – previous delegates
TIME IS MONEY The Mining Indaba is the most time-efficient way of gaining insight into African mining

Toro flags costs cuts at Wiluna

By: Esmarie Swanepoel     5th December 2016 Beneficiation and process design studies for the Wiluna uranium project, in Western Australia, have flagged a "substantial" reduction in the size and cost of the planned operating facility, Toro Energy said on Monday. A redesign of the process flow sheet reduced the capital cost of the proposed... 

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. 

Paladin in talks with lenders as debt repayment deadline looms and mine sale is delayed
The Langer Heinrich mine in Namibia

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
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