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'There has never been a bigger disconnect between price and value' – VRIC 2018

By: Henry Lazenby     22nd January 2018 "The disconnect between price and value is as stunning as I've ever seen," founder of The Stock Catalyst Report Michael Alkin told attendees at the Vancouver Resource Investment Conference (VRIC) on Sunday. Industry participants seemed to agree. 

Senator, uranium producers urge US govt to investigate reliance on Russian imports

By: Henry Lazenby     20th January 2018 US Republican senator for Wyoming John Barrasso has called on the Commerce Department to launch an investigation into the effects of uranium imports on US national security. "For years, government-owned uranium producers in Russia, Kazakhstan and Uzbekistan have unfairly flooded American markets... 

S Africa may lose out to other African gas sectors

By: Victor Moolman     19th January 2018 Several major international independent power producers and power generation developers are interested in South Africa’s gas-to-power programme (GPP), for which direction in the form of request for quotations and request for proposals from the Department of Energy (DoE) is keenly awaited.... 

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... 

Gold's bulls and bears have plenty to chew over in New Year

By: Bloomberg     29th December 2017 It is not just politics that’s polarised right now. Gold investors are also split down the middle. A Bloomberg survey of 38 market professionals shows a $700 divide between the most optimistic and most pessimistic forecasts for prices next year. That leaves the median estimate of $1 290/oz at... 

SP Angel outlines key 2018 trends as battery raw materials heat up

By: Creamer Media Reporter      21st December 2017 London-based brokerage SP Angel has outlined the key trends that characterised the basket of energy metals during 2017 and the the outlook for 2018 in its new ‘Battery Raw Material Review, Outlook – SP Angel Commodity Research Book’ published on Wednesday. The report pointed out that the... 

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... 

Steel tycoon considers bid for Rio Tinto's Dunkirk aluminum smelter - sources

By: Reuters     14th December 2017 Liberty House, the industrial and commodities group buying a number of steel assets around the world, is considering a bid for Rio Tinto's aluminium smelter in northern France, the largest in Europe, three sources with direct knowledge of the matter told Reuters. The Dunkirk plant, which the... 

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... 

DA consulting lawyers on legality of energy blueprint

By: African News Agency      11th December 2017 The Democratic Alliance said on Monday it was taking legal advice on the approval of government’s new Integrated Resource Plan (IRP), which envisions nuclear procurement. Democratic Alliance energy spokesperson, Gavin Davis, said the apparently rushed approval of the policy blueprint with no... 

Exploration for, and production of, valuable minerals in Mozambique continue to advance

By: Keith Campbell     8th December 2017 There have been a number of recent developments involving smaller mining companies, both local and foreign, in Mozambique recently. These involve both exploration and production activities.  

Renewables-heavy mix is South Africa’s cheapest option, yet another study confirms

By: Terence Creamer     1st December 2017 A new, independently produced techno-economic model of South Africa’s cost-optimal power generation mix in 2040 outlines a system where 69% of the electrical energy is produced from onshore wind and solar photovoltaic (PV) generators, supported by batteries and gas-fired generators. Conducted by... 

Academy of engineers calls for nuclear procurement halt until IRP consensus is reached

By: Terence Creamer     30th November 2017 The South African Academy of Engineering (SAAE) has called for a moratorium on the procurement of new electricity generation capacity, including nuclear power, until consensus has been reached on a new Integrated Resource Plan (IRP), which should be the outcome of “proper consultation in an open... 

Mahlobo’s call for ‘modular’ electricity roll-out at odds with nuclear ambition

By: Terence Creamer     27th November 2017 Energy Minister David Mahlobo’s latest Parliamentary reply, in which he argues that there is no longer a need to build large generation units, owing to the availability of low-cost smaller generation options, is at odds with his support for a large-scale nuclear build programme. In response to... 

Indian oil firms shift focus to Israel from Iran amid changing geopolitics

By: Ajoy K Das     20th November 2017 Changing geopolitical alignments and receding investment prospects in Iran are prompting a consortium of Indian oil companies to push for domestic energy security through wider exploration and production projects in Israel and Latin American countries. With the $5-billion investment offer to... 

CSIR signals renewables-led electricity mix by 2050 

By: Terence Creamer     16th November 2017 The CSIR Energy Centre has published updated research outcomes indicating that South Africa’s least-cost electricity mix, by 2050, includes predominantly solar photovoltaic (PV) and onshore wind contributing nearly 80% of the country’s electrical energy. The research outcomes, which were released... 

Study urges Eskom to accelerate station decommissioning, curtail Kusile to shore up solvency

By: Terence Creamer     15th November 2017 A new study argues that cash-strapped Eskom could make immediate costs savings of up to R17-billion and boost its liquidity, without undermining security of supply, by accelerating the decommissioning of three of its older coal-fired power stations and by halting construction of units 5 and 6 at... 

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 Swanepoel     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... 

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. 

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... 

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 limited or no access to electricity comes the call for new large-scale power stations to be built. This has prompted a keen interest in nuclear power stations and, consequently, a... 

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,... 

Eskom a ‘risk to entire economy’, Gigaba says as he reaffirms unaffordability of nuclear 

By: Terence Creamer     25th October 2017 As guarantor over a significant portion of Eskom’s debt, the prevailing governance problems at the State-owned utility were of “grave concern” and had become an “enormous risk” to government and the entire economy, Finance Minister Malusi Gigaba said on Wednesday. Delivering his first Medium-Term... 

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... 

One rare thing to watch for in US coal earnings: A profit

By: Bloomberg     24th October 2017 After years of bleeding cash and a painful string of bankruptcies, US coal miners are poised to do something rare – enjoy an earnings season. Boosted by higher global coal prices and a more conservative approach to mining, Peabody Energy kicks off the industry’s reporting cycle Wednesday and is... 

Eskom’s new R174bn grid plan includes R18bn for IPP connections

By: Terence Creamer     19th October 2017 State-owned electricity utility Eskom says all connection costs relating to 27 outstanding renewable-energy projects have been included in its latest Transmission Development Plan (TDP), which covers the ten-year period from 2018 to 2027. The renewable-energy projects were legally procured in... 

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... 

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... 

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... 

MPs dismayed as chief procurement officer silent on Eskom contracts

By: African News Agency      11th October 2017 Acting chief procurement officer Willie Mathebula apologised to Parliament’s standing committee on finance on Wednesday for giving a “sub-standard presentation” after members expressed dismay that he claimed no direct knowledge of the withdrawal of a damning report on Eskom’s coal contracts with... 

Gold hits one-week high amid renewed North Korea fears

By: Reuters     9th October 2017 Gold prices climbed to their strongest level in more than a week on Monday as renewed concerns over North Korea's nuclear ambitions stoked safe-haven demand for the precious metal and weighed on the dollar. Spot gold was up 0.4% at $1 279.99 an ounce by 07:05 GMT, after earlier touching $1... 

Gold heading for worst weekly run in '17 as higher rates loom

By: Bloomberg     6th October 2017 Gold has taken a relentless battering. Prices are poised to drop for a fourth week, the worst streak of losses this year, on prospects for higher U.S. interest rates, a rising dollar, a strong American economy and record equity markets. Fears over a potential nuclear conflict with North Korea... 

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... 

Aura's Mauritania uranium project gets environmental nod

By: Esmarie Swanepoel     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... 

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... 

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. 

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