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Uranium News

Toshiba reaches deal to help resolve Westinghouse bankruptcy, rebuild finances

By: Reuters     18th January 2018 Toshiba Corp said on Thursday it had clinched an agreement to sell its claims in bankrupt US nuclear plant maker Westinghouse Electric Co in a deal that would add $3.7-billion to the Japanese owner's depleted capital base. The Japanese conglomerate has also agreed to transfer its... 

BHP second-quarter iron-ore output up 3%, maintains forecast

By: Reuters     18th January 2018 Global miner BHP on Thursday reported a 3% rise in second-quarter iron-ore production year over year and said it expects to meet its full-year target as prices for the steelmaking ingredient outperform forecasts. BHP's iron-ore output climbed to 72-million tonnes for the three months ended... 

BHP second-quarter iron-ore output up 3%, maintains forecast

DRA expands Asia-Pacific footprint

By: Martin Creamer     17th January 2018 Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities... 

DRA expands Asia-Pacific footprint
Photo by Duane Daws
DRA CEO Wray Carvelas

Australia’s Vimy maintains positive view on uranium

By: Mariaan Webb     16th January 2018 Perth-based uranium mining hopeful Vimy Resources is maintaining a positive view on the uranium market and will “actively and energetically” engage in contract negotiations this year, to underpin financing for a new mine in the Great Victoria desert of Western Australia. The company, which is... 

Glencore reserves should be valued higher – analysts

By: Martin Creamer     15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... 

Glencore reserves should be valued higher – analysts
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia
Industrial Development Corporation research and information head Jorge Maia and Unctad economic affairs officer Stefan Csordas respond to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Strong commodity price rally lifts IHS Materials Price Index for ninth consecutive week

By: Henry Lazenby     12th January 2018 The IHS Materials Price Index (MPI) is in its ninth consecutive week of gains, jumping 2.8% last week – the strongest weekly performance since early September. According to IHS Markit economist Cole Hassay, the MPI was supported by broad-based positive indicators, with eight of ten subcomponents... 

Fission hits among strongest mineralisation yet at PLS

By: Henry Lazenby     3rd January 2018 Explorer Fission Uranium has hit some of the strongest mineralisation to date at its flagship Patterson Lake South (PLS) project, in Northern Saskatchewan’s south-western Athabasca Basin. The Kelowna, British Columbia-based miner on Wednesday reported the assay results from the last three... 

Fission hits among strongest mineralisation yet at PLS

Kazatomprom records tidy profit on Westinghouse Electric Company stake sale

By: Henry Lazenby     27th December 2017 The National Atomic Company of the Republic of Kazakhstan (Kazatomprom) has recorded a profit of $85-million after it sold its 10% stake in US-based Westinghouse Electric Company, which filed for Chapter 11 bankruptcy protection in March. Kazatomprom has exercised its rights under a put option... 

Even with Trump minerals order, US miners seen trailing China

By: Reuters     23rd December 2017 Even if Donald Trump’s initiative on 'critical minerals' strengthens the US mining industry, domestic companies would still struggle to compete with low-cost Chinese competitors, according to Bloomberg Intelligence. The president signed an executive order this week to identify new US sources of... 

Even with Trump minerals order, US miners seen trailing China

Retrenched Gupta mine employees fail to receive pay

By: Martin Creamer     22nd December 2017 Forty-four people retrenched from the Shiva Uranium Mine in North West belonging to the Gupta company Oakbay have failed to receive expected December pay that formed part of an agreed retrenchment package, Democratic Alliance (DA) councillor Maritha Coetzee told Mining Weekly Online on Friday.... 

Retrenched Gupta mine employees fail to receive pay

Tokyo Electric says Canada's Cameco seeks $682m in damages

By: Creamer Media Reporter      19th December 2017 Japan's Tokyo Electric Power (Tepco) has revealed that Canadian uranium major Cameco is seeking $681.9-million in damages following a dispute that has driven the former partners to international arbitration. News agency Reuters reported from Tokyo, Japan, that Tepco has confirmed receipt of a... 

Tokyo Electric says Canada's Cameco seeks $682m in damages

IDC sues Gupta-linked firms to recover debt

By: Bloomberg     13th December 2017 South Africa’s Industrial Development Corporation (IDC) is suing four companies linked to the politically connected Gupta family after they failed to repay a loan that the state-owned development financier canceled because it suspected illegal activity. The Guptas’ Oakbay Resources and Energy,... 

Berkeley selects mining and construction contractors for Salamanca mine

By: Megan van Wyngaardt     12th December 2017 Dual-listed Berkeley Energia expects to pour concrete at its fully-funded Salamanca mine, in western Spain, in the new year, the company said on Tuesday, as it announced the award of major contracts for the uranium mine. The company said that Sanchez y Lago, one of Spain’s major construction... 

Berkeley selects mining and construction contractors for Salamanca mine

Cameco, Kazatomprom restructure JV Inkai

By: Henry Lazenby     11th December 2017 Canadian uranium producer Cameco and the National Atomic Company of the Republic of Kazakhstan (Kazatomprom) have agreed to restructure their joint venture over the Inkai in situ recovery uranium mine, in south Kazakhstan. Kazatomprom CEO Galymzhan Pirmatov and Cameco president and CEO Tim Gitzel... 

Cyril Ramaphosa calls for mining sector action 

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth 

By: Martin Creamer     8th December 2017 New ‘Proudly South African’ start-up Erudite Strategies has hit a rich vein of acceptance in Australia, where investors in junior mining projects in Africa are showing alacrity in taking up its unique client representative and owner’s engineer offering. Each of Erudite’s three leading lights has... 

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth
Mining Weekly Online’s Martin Creamer interviews Johann de Bruin, the founding director of the new project engineering company Erudite. Video: Nicholas Boyd. Video Editing: Nicholas Boyd and Lionel da Silva.

Boss consolidates Honeymoon uranium project ownership

By: Mariaan Webb     7th December 2017 ASX-listed Boss Resources has entered into a binding conditional agreement to buy Wattle Mining – the owner of 20% of the shares in the Honeymoon uranium project – in a move that will give the company full ownership of the South Australian project. Consolidating the ownership sets the Honeymoon... 

Uranium companies jump on another round of Kazatomprom production cuts

By: Henry Lazenby     4th December 2017 An announcement Monday by the world’s largest uranium producer, the National Atomic Company of the Republic of Kazakhstan (Kazatomprom), that it would curtail another 20% of output for three years, starting from January, sent most TSX-listed uranium companies’ equities soaring. The national miner... 

Uranium companies jump on another round of Kazatomprom production cuts

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Dassault Systèmes heralding in new autonomous mining era  

By: Martin Creamer     30th November 2017 The 'mine of tomorrow' is expected to be a factory-like entity equipped with a multiplicity of autonomous devices, which are controlled by technology savvy personnel working from remote centres, attendees of the natural resources forum heard in Sandton on Thursday. The ‘mine of tomorrow’ would... 

Dassault Systèmes heralding in new autonomous mining era
Dassault Systèmes Geovia CEO Raoul Jacquand interviewed by Mining Weekly Online’s Martin Creamer on mine modernisation. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Berkeley closes Oman financing transaction

By: Samantha Herbst     30th November 2017 Following shareholder approval announced on Thursday, uranium project developer Berkeley Energia has completed a strategic investment of up to $120-million with the sovereign wealth fund of the Sultanate of Oman, which means that Berkeley can now bring the Spain-based Salamanca uranium mine into... 

Integrated, regional approach needed for mine water treatment – DWS

By: Mia Breytenbach     29th November 2017 Government and regulators should promote a regional integrated approach to mine water treatment, says Department of Water and Sanitation (DWS) Mine Water/Water Quality Management chief director Marius Keet. Speaking at the Science Business Society Dialogue Conference on Linking Science, Society,... 

GoviEx receives top honours at Africa investment showcase

By: Megan van Wyngaardt     28th November 2017 TSX-V-listed GoviEx Uranium was given the gold award for best mining project at the recent Africa Investment Forum and Awards (AIFA) in Paris, France. The AIFA is an event dedicated to African business opportunities in fields such as mining, energy, infrastructure and real estate. A rigorous... 

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon

By: Martin Creamer     28th November 2017 The process of reconsidering the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill has generated a new range of procedural missteps and failed to address any of the substantive problems in the Bill, leaving the entire withdrawal of the Bill as the only constitutionally... 

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon
Photo by Duane Daws
Herbert Smith Freehills Africa co-chair and partner Peter Leon.

PEA delivers encouraging results for GoviEx’s Mutanga

By: Megan van Wyngaardt     21st November 2017 A recently completed preliminary economic assessment (PEA) at TSX-V-listed GoviEx Uranium’s Mutanga project, in Zambia, has shown that the project can produce 2.4-million pounds a year of triuranium octoxide (U  3  O 8  ) yellowcake over an initial 11-year mine life. The study has also shown that... 

'A good number of investors' considering countries offering better return-on-investment prospects than SA

By: Dylan Slater     17th November 2017 Mining policies imposed by the Department of Mineral Resources (DMR) on local industry are creating increased uncertainty for investors, a growing number of whom are considering investing in mining projects and exploration in other countries, with a greater chance of a healthier return on... 

'A good number of investors' considering countries offering better return-on-investment prospects than SA
Photo by Duane Daws
PAUL MILLER A significant volume of additional capital needs to be earmarked for every new mining project to account for risk associated with policy uncertainty

GoviEx Uranium granted exploration permit for Agaliouk tenement

By: Creamer Media Reporter      15th November 2017 TSX-V-listed GoviEx Uranium has been granted an exploration permit for its Agaliouk tenement, adjacent the Madaouela project, in Niger. Agaliouk adds 11.67-million pounds triuranium octoxide (U3O8) in the measured and indicated categories and 9.35-million pounds U3O8 in the inferred category to... 

Environmental activists to appeal enviro authorisation for proposed new nuclear power station

By: Megan van Wyngaardt     14th November 2017 Earthlife Africa Johannesburg, Greenpeace Africa and the Southern African Faith Communities’ Environment Institute (Safcei) have officially filed a notice informing the Department of Environmental Affairs (DEA) that they intend to jointly appeal the environmental authorisation for the... 

Australian uranium hopefuls welcome Cameco production cuts

By: Esmarie Iannucci     10th November 2017 Australia’s uranium hopefuls have welcomed a decision from uranium major Cameco to shutter its McArthur River mining and Key Lake milling operations, in Canada. Cameco this week announced its plans to remove some 10% of the current global uranium supply, on the back of continued uranium price... 

Guptas target South African bank regulator over account closures

By: Bloomberg     10th November 2017 A group of companies linked to South Africa’s politically connected Gupta family said the country’s banking regulator encouraged lenders to shut their accounts, broadening a battle to retain the last of their banking services. The 20 businesses, which are suing Bank of Baroda’s local unit to keep... 

Uranium producer progresses mine consolidation strategy

10th November 2017 Canadian uranium miner GoviEx Uranium will acquire the uranium mineral interests of independent power producer African Energy Resources in Zambia, with the Zambian Competition and Consumer Protection Commission announcing in June that it had reviewed and provided its approval for the transaction. 

Uranium producer progresses mine consolidation strategy
Photo by GoviEx Uranium
PROJECT PROGRESSES GoviEx has received expressions of interest from export credit agencies and project finance banks to arrange senior debt financing for the construction of the Madaouela uranium project

Govt, NGOs and industry joining forces to fend off acid mine water threat

By: Ilan Solomons     10th November 2017 Acid mine drainage (AMD) is regarded as one of the greatest environmental challenges ever faced by South Africa, says Department of Water and Sanitation (DWS) mine water management chief director Marius Keet. During a recent seminar on the need to rehabilitate mine contaminated ecosystems, he... 

Govt, NGOs and industry joining forces to fend off acid mine water threat

Etango identifies capital savings at Namibia uranium project

By: Esmarie Iannucci     9th November 2017 A processing optimisation study at the Etango uranium project, in Namibia, has reduced the expected capital costs by about $73-million, from a previous estimate of $870-million. Project developer Bannerman Resources on Thursday reported that the largest capital reductions came from a simplified... 

Price weakness prompts Cameco to shutter world highest-grade mine, Key Lake mill

By: Henry Lazenby     9th November 2017 Cameco fingered sustained uranium price weakness as being behind its decision to shutter the McArthur River mining and Key Lake milling operations, in Northern Saskatchewan’s Athabasca Basin, Canada’s largest producer of the nuclear fuel announced on Wednesday. Saskatoon, Saskatchewan-based... 

UK's Johnson to visit Washington for Iran nuclear deal talks

By: Bloomberg     8th November 2017 UK Foreign Secretary Boris Johnson will fly to Washington in an attempt to persuade the US not to abandon the Iran nuclear deal, as he battles to save his own job in London. Johnson will meet senior Republicans and Democrats to discuss the importance of the nuclear security agreement, amid... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate

By: Martin Creamer     7th November 2017 Dr Mark Bristow of Randgold Resources and Robert Friedland of Ivanhoe Mines may go head-to-head in a live on-stage gold-versus-copper debate at the Investing in African Mining Indaba event at the Cape Town International Convention Centre from February 5 to 8, Mining Indaba MD Alex Grose disclosed... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate
Photo by Creamer Media
Investing in African Mining Indaba MD Alex Grose (right) and Martin Creamer

Canadian junior mining sector riding renewed wave of confidence

By: Henry Lazenby     7th November 2017 Despite signs of improved investor confidence in Canada's prolific junior mining sector – mainly driven by rising consumer technology demand for resources – analysts are warning that the market recovery is in a delicate phase and will require discipline to survive until more substantial commodity... 

Canadian junior mining sector riding renewed wave of confidence

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