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Uranium One unveils Q1 profit on higher prices, production

By: Matthew Hill TSX- and JSE-listed Uranium One swung to profit in the first quarter, it said on Wednesday, posting net income of $14-million as it benefited from higher production and prices for the nuclear fuel. The company produced a record 2,4-million pounds in the three months to March, one-third higher... 

Uranium One hires former Cameco exec as marketing VP

By: Liezel Hill ranium One has appointed Scott Melbye as executive vice-president of marketing, the company said on Friday. Melbye, who will join Uranium One in May, was most recently president of Cameco, as subsidiary of Cameco, where he was responsible for managing the company's worldwide uranium marketing... 

Uranium One names Chris Sattler as new CEO

By: Liezel Hill Uranium One has appointed Chris Sattler as CEO, replacing Jean Nortier, the firm said on Wednesday. Nortier has returned to South Africa with his family "for personal reasons" but will remain a member of the board of directors, the company said.  

Uranium junior gets more interest as prices rise

By: Matthew Hill The 30% rise in uranium prices since June to the highest level in two years has sparked interest in the sector once more, and TSX-V-listed junior Xemplar Energy said on Monday its phone lines had suddenly become a lot busier. "There's just interest coming from everywhere. Our phones ring a lot... 

Uranium One sales rise to record, bullish on prices

By: Liezel Hill Vancouver-based Uranium One narrowed its third-quarter net loss as uranium sales volumes rose to a record and cash costs improved. The company sold 1,7-million pounds in the quarter, an increase of 302% compared with a year earlier, and 12% higher than the 1,5-million pounds sold in the second... 

Uranium One sees ARMZ deal by yr-end after shareholder thumbs up

By: Liezel Hill With shareholder approval now in the bag, Uranium One expects to close the sale of a controlling interest in itself to Russian government-owned uranium miner Atomredmetzoloto (ARMZ) by the end of this year. The company only needed the approval of a majority of minority shareholders for the deal,... 

Investors applaud slew of good news from Uranium One

By: Liezel Hill Shares in Uranium One rose more than 10% on Monday, after the company raised its production guidance for this year and announced several other bits of positive news, including that it does not expect to pay a new excess profits tax on its operations in Kazakhstan. It also appears that a lot of... 

Uranium One loss narrows, hikes outlook

By: Liezel Hill Vancouver-based Uranium One narrowed its net loss for the second quarter, after increasing production during the three months to a best-ever 1,8-million pounds of uranium, more than double a year ago. Shares in the company jumped 6% on Monday morning, to C$3,01 apiece by 10:28 in Toronto. 

Uranium One sells Paladin shares

By: Esmarie Swanepoel Australian uranium-miner Paladin Energy on Wednesday welcomed the decision by TSX- and JSE-listed Uranium One to dispose of its interest in Paladin. Uranium One announced on Tuesday it has sold all the shares it bought in rival Paladin, with CEO Jean Nortier saying the primary reason for the... 

ARMZ sees Uranium One as vehicle for global growth

By: Liezel Hill Russia's Atomredmetzoloto (ARMZ) will increase its holding in Uranium One to at least 51%, in exchange for stakes in two uranium mines in Kazakhstan and $610-million in cash. Uranium One will buy ARMZ's 50% interest in the Akbastau uranium mine and its 49,67% interest in the Zarechnoye uranium... 

Uranium phoenix rises from ashes with new 
Zuma-linked ownership

By: Martin Creamer It came as something of a surprise when Uranium One shut up shop at its uranium mine and spanking new plant in Klerksdorp.

Mining Weekly was among the many publications that recorded its every move under the fast-moving original Uranium One CEO Neal Froneman, now in charge of Gold One. 

Resources Watch

By: Shannon de Ryhove This week: Denison Mines touts Athabasca uranium find; Kinross CEO plays his cards close on plans for Red Back shares; and Uranium One closes the door on Dominion, remains mum on Paladin stake. 

Weekly podcast – May 12, 2010

By: Megan Wait Australia is willing to negotiate on the details of its super profits tax on mining firms; Uranium One sells its Dominion project in South Africa; and Guinea is hoping for a second major international investment in its mining sector. 

Uranium One closes the door on Dominion

By: Liezel Hill Uranium One has finally sold its Dominion project in South Africa, the company announced on Monday, bringing an end to what CEO Jean Nortier called a “sad chapter” for the miner. “But we had to close that chapter, we certainly weren't going to try and bring Dominion back into production,” he... 

Nortier mum on Paladin stake, still looking for acquisitions

By: Liezel Hill Uranium One has acquired shares in rival Paladin Energy “as an investment”, was all CEO Jean Nortier would say on Monday. Uranium One said late last month that it had bought a stake in Paladin, which operates uranium mines in Malawi and Namibia, and confirmed on Monday that it has since... 

Uranium One confirms Paladin stake, 'for investment purposes'

By: Liezel Hill Uranium miner Uranium One has bought a stake in rival Paladin Energy, the company confirmed on Friday, stating that the shares were purchased “for investment purposes”. Shares in Paladin, which operates uranium mines in Malawi and Namibia, rose 6,3% in Toronto on Friday, after the company said... 

Uranium miner announces strong production results

Uranium exploration and production company Uranium One reports that its operational and financial results for the year ended December 31, 2009, as well as production results for the first two months of 2010, have been promising and believes that 2010 will be a strong year. 

Daily podcast – March 12, 2010

By: rosalia matlou Uranium One investigates the possibility of becoming a partner in another new sulphuric acid plant in Kazakhstan; and Extract Resources' definitive feasibility study on Rossing South will likely increase the overall size of the uranium project's resource. 

Uranium One mulls participation in second Kazakh acid plant

By: Liezel Hill Uranium miner uranium one is investigating the possibility of becoming a partner in another new sulphuric acid plant in Kazakhstan, CEO Jean Nortier told Mining Weekly Online on Thursday. Although the company is not concerned with the actual availability of sulphuric acid in the country, it has... 

Real Economy Report

By: Creamer Media Reporter We take a look at the Navy's new technology ships; we visit a South African facility manufacturing solar flat plate collectors for solar water heaters; and consultants remain bullish on platinum and palladium. 

Uranium too low to incentivise new mines – Uranium One  

By: Liezel Hill Uranium prices will still need to firm significantly to justify the development of many of the mining projects being considered around the world, Jean Nortier, the CEO of Uranium One, reiterated on Monday. Nortier said he believes the market is underestimating the volume of uranium that will be... 

Uranium One revenue falls 62% on lower volumes, prices

By: Liezel Hill Vancouver-based Uranium One lost $11,9-million in the third quarter, compared with a $2-billion loss a year earlier, when the firm recorded a massive writedown mainly related to its Dominion project, in South Africa, but also on assets in the US and Australia. After stripping out certain items,... 

Industry needs much higher uranium price to fund new production

By: Liezel Hill The uranium-mining industry will likely need to see prices lift “considerably” before lower-grade, higher cost mines can be brought into production, Jean Nortier, the CEO of Vancouver-based Uranium One, said on Monday. Uranium One also announced earlier in the day that it had agreed to buy... 

Uranium One loss widens on writeoff, buys assets in Wyoming

By: Liezel Hill Vancouver-based Uranium One reported a second quarter loss of $265-million, compared with a $68-million loss a year earlier, mainly because of a write-off $251-million associated with the firm's Dominion mine, in South Africa, which was closed last year and is now being held for sale. Excluding... 

Uranium One buys 50% of Kazakh mine, revises output guidance

By: Chanel de Bruyn TSX- and JSE-listed uranium-miner Uranium One on Monday announced that it would buy a 50% stake in another mine in Kazakhstan, boosting its 2010 production forecast by about one-third. The deal comes not long after Uranium One’s stock took a beating over reports out of Kazakhstan that a... 

Uranium One gains as Kazatomprom assures no change to deals

By: Liezel Hill Shares in Vancouver-based Uranium One rose 6,3% on Friday, to C$2,85 apiece by 10:50 in Toronto, after Kazakh State-owned uranium miner Kazatomprom said that it would honour existing agreements with foreign partners, including Uranium One. Last month, the company's shares plunged when a Kazakh... 

Prospects still solid for organic, acquisitive growth at Uranium One – CEO

By: Liezel Hill After a tumultuous first year or so at the helm, delivering solid good news to the market in the early part of this year was like a novel but highly gratifying experience for Uranium One CEO Jean Nortier. The Vancouver-based miner, which reported a spate of production cuts and writedowns and... 

Roller Coaster Continues . . . . but prospects still solid for organic, acquisitive growth at Uranium One, says CEO

By: Liezel Hill After a tumultuous first year or so at the helm, delivering solid good news to the market in the early part of this year was likely a novel but highly gratifying experience for Uranium One CEO Jean Nortier.  

Real Economy Report

This is the Real Economy Report. Our top stories this week: the Ben Schoeman highway expansion is on track and on time; green building is gaining momentum in South Africa; and the Ekurhuleni jewellery project empowers communities. 

Uranium One declines on Monday

By: Liezel Hill Shares in uranium-miner Uranium One started the week off on a sour note, falling 4,09% in Toronto, where most of the company's stock is traded, and 11,2% on the JSE. Shares in the company dropped almost 40% in Toronto on May 27, after reports out of Kazakhstan that the head of State uranium... 

Uranium One rebounds

By: Liezel Hill Uranium miner Uranium One, which watched its stock drop almost 40% in Toronto on Wednesday, regained some lost ground on Thursday. Shares in Uranium One rose 21% to C$2,42 apiece by 15:59 ET.  

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