R/€ = 15.99 Change: 0.10
R/$ = 14.01 Change: 0.20
Au 1221.51 $/oz Change: 6.02
Pt 845.50 $/oz Change: 3.71

Uranium News

Denison extends high-grade Gryphon mineralisation at Wheeler River

By: Henry Lazenby     4th November 2017 Uranium explorer and development company Denison Mines has extended the new high grade unconformity-hosted mineralisation up-dip and about 250 m along strike to the northeast of the Gryphon deposit, which is part of the 60%-owned Wheeler River uranium project, in the Athabasca basin of Northern... 

Uranium-endowed South Africa stands to benefit from ambitions to improve electricity access in Africa

By: Dylan Slater     3rd November 2017 In tandem with growing ambitions to increase access to electricity for many African citizens who currently have no or limited access to electricity comes the call for new large-scale power stations to be built. In line with this expansion is a keen interest in nuclear power stations and,... 

Uranium-endowed South Africa stands to benefit from ambitions to improve electricity access in Africa

Guptas inflated Oakbay price through trading by Singapore firm

By: Bloomberg     2nd November 2017 The Gupta family inflated the share price of a company it controlled on its Johannesburg Stock Exchange debut by lending money to a Singapore firm to be used to trade the equities. That came ahead of plans to raise funds for a uranium mine. The Guptas, who are embroiled in a corruption scandal... 

GoviEx’s acquisition of African Energy Resources finalised

By: Anine Kilian     30th October 2017 Dual-listed GoviEx Uranium has completed the acquisition of African Energy Resources’ uranium interests in Zambia. “The combination of African Energy’s Chirundu and Kiraba Valley tenements with GoviEx’s Mutanga project finally unites these neighbouring properties and significantly expands and... 

Cameco equities fall as miner swings to surprise Q3 loss; pares outlook

By: Henry Lazenby     27th October 2017 Canada’s largest uranium producer Cameco has reported a disappointing third-quarter loss for the three months ended September, prompting investors to punish the TSX-listed stock and pushing it 13% lower in early trading on Friday. The Saskatoon, Saskatchewan-based company, swung to a headline... 

Cameco equities fall as miner swings to surprise Q3 loss; pares outlook

Obama administration's decision on uranium sale probed by House

By: Bloomberg     25th October 2017 US House committees are investigating why former President Barack Obama’s administration allowed a Russian-backed company to purchase American uranium mines in 2010. The House Intelligence and Oversight panels will look into the matter, Devin Nunes, a California Republican who is chairperson of... 

Shared vision needed for mining to boost entire economy – Mgojo

By: Martin Creamer     24th October 2017 A collective national vision, which must be viable, inclusive and transformative, is urgently needed to unleash mining’s latent ability to energise the entire South African economy, Chamber of Mines president Mxolisi Mgojo said on Tuesday. Speaking at a media lunch, Mgojo emphasised the folly of... 

Shared vision needed for mining to boost entire economy – Mgojo
Photo by Duane Daws
Chamber of Mines president Mxolisi Mgojo

India relaxes rules for coastal and offshore mining

By: Ajoy K Das     23rd October 2017 In a bid to deepen exploration and mining of atomic and rare earth minerals across the country, the Indian government is putting in place a slew of measures. For starters, the government has notified that it will relax mining norms in fragile coastal areas and that the exploration and mining of... 

South Africa spending less than its peers on mining research and development

By: Mia Breytenbach     20th October 2017 While South Africa had increased its investment in mining research and development (R&D) since 2014, the country’s investment was still below that of its peers, delegates heard during a panel discussion on ‘Technological Innovation and Advancements in the Mining Industry’ at the Joburg Indaba... 

Remove exploration red tape or mining will die, geologist warns 

By: Martin Creamer     19th October 2017 The excessive red tape around minerals exploration must be removed to prevent the demise of South Africa’s vital mining industry, consulting exploration geologist Allan Saad said on Thursday. Saad, who spent 18 years in geological roles with mining major Rio Tinto and who formerly represented the... 

Remove exploration red tape or mining will die, geologist warns
Consulting exploration geologist Allan Saad outlines current exploration constraints to Mining Weekly Online’s Martin Creamer. Photographs: Christo Greyling. Video and Video Editing: Nicholas Boyd.

AngloGold Ashanti sells Moab Khotsong to Harmony; Kopanang to Heaven-Sent

By: Natasha Odendaal     19th October 2017 JSE-listed AngloGold Ashanti has disposed of its various South African gold and uranium mining assets in the Vaal river region to Harmony Gold Mining for $300-million. The transaction comprised the Moab Khotsong mine, the Great Noligwa mine and related infrastructure; AngloGold Ashanti’s entire... 

AngloGold Ashanti sells Moab Khotsong to Harmony; Kopanang to Heaven-Sent
Moab Khotsong

Niger must halt job cuts at Areva's uranium mine, group says

By: Bloomberg     18th October 2017 Activists in Niger urged President Mahamadou Issoufou to negotiate with Areva SA after the French company said it will cut 200 jobs at one of its uranium mines in the West African nation to adjust to lower prices for the nuclear fuel. “It’s absolutely untrue that the only solution is to lay off... 

Peninsula hopes to sell Karoo project

By: Esmarie Iannucci     18th October 2017 ASX-listed uranium miner Peninsula Energy will divest of its 74% interest in the Karoo projects, in South Africa. The company on Wednesday told shareholders that while it had advanced the Karoo projects from exploration to early stage prefeasibility over the past decade, Peninsula has now... 

Brexit takes bureaucracy to the atomic level for UK industry

By: Bloomberg     17th October 2017 To understand the implications of Brexit, it helps to go nuclear. Of all the international regulatory challenges created by the UK’s impending departure from the European Union, the atomic-energy industry may best encapsulate the decision’s bottom-line effect: more bureaucracy and costs for a... 

Councillor, ten others arrested in Gupta owned Shiva mine protest

By: African News Agency      12th October 2017 A councillor was among 11 people arrested for public violence and malicious damage to property in Tigane near Klerksdorp following a protest, North West police said on Wednesday. Lieutenant Colonel Pelonomi Makau said the councillor was expected to appear in the Hartbeesfontein Magistrate’s Court... 

South Africa should consider agromining – US professor 

By: Martin Creamer     11th October 2017 South Africans, who have been mining for metals for more than a century, were this week urged to farm for metals. South African-born Stephen Haggerty, a distinguished research professor of Florida International University in the US who spoke to Mining Weekly Online while in Johannesburg, outlined... 

South Africa should consider agromining – US professor
Florida International University distinguished research professor Stephen E Haggerty talks to Mining Weekly Online’s Martin Creamer on the potential to farm for metals. Photographs: Duane Daws. Video and Video Editing: Lionel de Silva.

Laramide unveils maiden uranium resource at Church Rock

By: Henry Lazenby     11th October 2017 Dual-listed Laramide Resources has announced a maiden inferred resource for its Church Rock in-situ recovery (ISR) project, in New Mexico. Prepared by Roscoe Postle Associates, in Denver Colorado, with the assistance of Laramide's technical team, the technical report calculated a compliant... 

Opinion: South Africa’s coal mining sector could shrink by 46% 

6th October 2017 In this opinion article, independent economic risk consultant Rob Jeffrey argues that the mining industry and coal industry need to fight for their very future otherwise all is lost. Few people realise that future economic, political and social prosperity are at currently stake. Decisions made in... 

Opinion: South Africa’s coal mining sector could shrink by 46%
Rob Jeffrey

Aura's Mauritania uranium project gets environmental nod

By: Esmarie Iannucci     5th October 2017 The Mauritania government has approved the environmental and social impact assessment of the Tiris uranium project, being developed by dual listed Aura Energy. “For a uranium project, one of the most important steps in its path to development is the environmental approval step,” Aura Energy... 

Offshore capital equipment markets come in handy amid ‘turmoil’ in domestic mining sector

By: Dylan Slater     29th September 2017 South African capital equipment manufacturers that are exporting, and which have survived the ongoing turmoil in the mining industry and domestic economic environment, have showed resilience and bear testament to the lifeline provided through exporting products and not relying solely on sales... 

Offshore capital equipment markets come in handy  amid ‘turmoil’ in domestic mining sector

GoviEx receives expressions of interest from project lenders for Niger uranium project

By: Natasha Odendaal     28th September 2017 TSX-V-listed GoviEx Uranium has received expressions of interest from export credit agencies and project finance banks to arrange $220-million of senior debt financing for the construction of the Madaouela uranium project, in Niger. This followed the earlier appointment of Medea Capital Partners... 

Auditing firm cuts ties with Gupta’s Oakbay

By: Sane Dhlamini     27th September 2017 The board of auditing firm Sizwe Ntsaluba Gobodo (SNG) has resigned as auditors of Gupta-owned Oakbay Resources and Energy Limited and its related entities. The auditing firm’s statement stipulates that this decision was made after a thorough assessment of its relationship with the company which... 

Auditing firm cuts ties with Gupta’s Oakbay

Russian nuclear giant joins scramble to supply electric-car boom

By: Bloomberg     20th September 2017 Russia’s State-owned nuclear corporation is joining the lithium rush. After a collapse in the price of uranium, Rosatom Corp. plans to start mining and trading the metal used in batteries as it seeks to profit from the rapid rise of electric vehicles. 

Russian nuclear giant joins scramble to supply electric-car boom

McKinsey, KPMG targeted as South Africa graft scandal widens

By: Bloomberg     15th September 2017 After helping topple one of Britain’s best known public-relations companies, South African anti-corruption groups are now targeting US consultancy McKinsey & Co. and auditing firm KPMG for doing work for businesses tied to the Gupta family and President Jacob Zuma’s son. The Guptas, originally... 

Chamber agrees to Minister's written undertaking

By: Martin Creamer     13th September 2017 The Chamber of Mines advises that, following an approach by legal counsel representing Mineral Resources Minister Mosebenzi Zwane, it has reached an agreement with him through his legal counsel in respect of the chamber’s urgent interdict to prevent the implementation of Mining Charter Three, as... 

Chamber agrees to Minister's written undertaking
Chamber of Mines CEO Roger Baxter

NexGen secures outstanding stake in prospective Dufferin Lake property

By: Henry Lazenby     11th September 2017 Uranium explorer NexGen Energy has entered a purchase agreement with Rainmaker Resources and Eagle Trail Properties to acquire the 40% outstanding interest in its Dufferin Lake property. The Vancouver-based company and the vendors had previously entered into a mineral claim option agreement dated... 

Bannerman hopeful on uranium price

By: Esmarie Iannucci     7th September 2017 Uranium developer Bannerman Resources is optimistic about the future of the uranium price, with CEO Brandon Munro telling delegates at the 15th yearly Africa Downunder conference, in Perth, that the current decade-low prices are unsustainable. “The uranium spot price is languishing at a decade... 

Mogadishu requests 'urgent military assistance' over uranium mining claims

By: African News Agency      4th September 2017 Somalia’s government has made an urgent request for “immediate military assistance” from the United States to prevent Islamist militants Al Shabaab from supplying uranium to Iran. In a letter, Foreign Minister Yusuf Garaad says the militants have captured a region with uranium deposits and have... 

Mogadishu requests 'urgent military assistance' over uranium mining claims
Photo by Reuters
Al Shabaab

MCA wants Australian govt to rethink nuclear stance

By: Esmarie Iannucci     1st September 2017 The Minerals Council of Australia (MCA) has called on the Australian government to rethink its nuclear prohibition, saying the ban on nuclear power could no longer be afforded given the country’s current energy challenges. “Nuclear power is off the table in Australia – literally banned,” the... 

Despite high upfront costs, technology investments yield long-term savings – BMI

By: Mia Breytenbach     1st September 2017 With metals and mining companies increasingly investing in technology that will help reduce their carbon footprints, owing to the global drive to lower carbon emissions, meaningful efforts to improve environmental standards in the extractive industries require significant upfront costs, according... 

Despite high upfront costs, technology investments yield  long-term savings – BMI
LONG-TERM BENEFIT BMI expexts long-term cost savings to benefit companies that are ahead of the curve when it comes to prioritising green strategies

Red Metal Mining

1st September 2017 Diversified project engineering house Red Metal Mining (RMM) is focused on the specialised design of cast resin dry-type transformers, mini substations and electrical automation systems required by mining and associated industries. “Wherever electricity is generated, distributed, or required, we... 

Red Metal Mining

New head of Kazatomprom appointed

31st August 2017 The former deputy chairperson of the National Bank of Kazakhstan, Galymzhan Pirmatov, has been appointed the head of the country’s State uranium mining group Kazatomprom. Pirmatov is well known in the nuclear industry, having held the position of VP for economics and finance of Kazatomprom... 

Peninsula warns of impairment

By: Esmarie Iannucci     31st August 2017 Uranium producer Peninsula Energy has warned of a $25-million to $35-million impairment charge in the second half of the financial year, following further downgrades in future uranium price consensus forecasts and lower annual production levels. The impairment in the second half of the financial... 

Denison hits high-grade unconformity uranium mineralisation at Gryphon

By: Henry Lazenby     30th August 2017 Uranium explorer Denison Mines has for the first time found unconformity uranium mineralisation at its Gryphon deposit, on the 60%-owned Wheeler River project, in the Athabasca Basin region of northern Saskatchewan. TSX- and NYSE MKT-listed Denison said on Wednesday drill hole WR-689D3... 

Berkeley finds investor to fund Spain uranium mine to production

By: Creamer Media Reporter      30th August 2017 Aim- and ASX-listed Berkeley Energia has signed a $120-million investment agreement with the sovereign wealth fund of Oman to fund the Salamanca uranium mine, in Spain, into production. The investment will position Oman as a long-term strategic investor in the company, as well as a potential... 

Marenica starts testing on Paladin ores

By: Esmarie Iannucci     29th August 2017 ASX-listed Marenica Energy has collected ore samples from uranium miner Paladin Energy’s Langer Heinrich operation, in Namibia, to conduct testwork on. Marenica and Paladin in June this year struck an agreement to conduct amenability testwork on low-grade ore samples from the Langer Heinrich... 

Corporate and govt cooperation needed to drive energy stability

By: Robyn Wilkinson     25th August 2017 There needs to be ongoing open dialogue between the corporate sector and government to ensure that energy supplies for mining projects are secured and stabilised timeously to take advantage of valuable economic opportunities in Africa, says Johannesburg-based consultancy Core Consultants founder... 

Corporate and govt cooperation needed to drive energy stability
LARA SMITH Governments’ lead times for approving new power plants in African countries are often too long, resulting in a failure to realise the full potential of valuable mining projects

Improve efficiencies before adopting new energy solutions

By: Robyn Wilkinson     25th August 2017 For many mines, there is still significant work to be done in terms of improving operating energy efficiencies, and a sound understanding of the benefits of digitalisation could be the key to unlocking considerable value in this endeavour, says professional services firm EY South Africa advisory... 

Improve efficiencies before  adopting new energy solutions
Photo by Bloomberg
STRATEGIC INVESTMENTS With a thorough understanding of its daily energy requirements, a mine can achieve clarity on where an injection of renewable energy can provide maximum benefit

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