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Uranium News

GoviEx’s Chirundu mining licence in Zambia reinstated

By: Tasneem Bulbulia     11th May 2021 Exploration and development company GoviEx Uranium has received a letter from Zambia’s Mining Cadastre department notifying it that the previously cancelled Chirundu mining licence has been reinstated. The reinstatement of the mining licence, however, remains subject to the completion of certain... 

Cameco Q1 results in line with expectations

By: Creamer Media Reporter      10th May 2021 Canadian uranium miner Cameco on Friday reported first-quarter results that were in line with its expectations, reporting an adjusted loss of $29-million, or $0.07 a share, for the three months ended March 31. The adjusted loss compares with adjusted earnings of $29-million in the same quarter... 

Cameco Q1 results in line with expectations

Tanzania gets renewed hope to transform mining industry with Hassan administration – Leon

By: Donna Slater     5th May 2021 The “change of tone” brought by Tanzania’s new President Samia Suluhu Hassan over the past month could indicate a welcome new economic direction for the country, professional services firm Herbert Smith Freehills partner and Africa co-chairperson Peter Leon says.   In March, former Tanzania... 

Denison makes offer for OURD’s JCU Canada unit

By: Mariaan Webb     4th May 2021 Uranium mine developer Denison Mines has delivered a binding offer to Overseas Uranium Resources Development to buy its wholly-0wned subsidiary JCU (Canada) Exploration Company, only weeks after UEX Corp offered to buy the business. JCU holds a portfolio of uranium project joint venture (JV)... 

Denison makes offer for OURD’s JCU Canada unit
JCU has a 10% interest in the Wheeler River project.

Honeymoon fully permitted for a restart

By: Esmarie Iannucci     4th May 2021 A review has confirmed that ASX-listed Boss Energy had all the required permits to restart uranium production at its Honeymoon project, in South Australia. The company on Tuesday reported that all federal and state permits required to mine, process, store, transport and export uranium from the... 

Lotus starts US share trading

By: Esmarie Iannucci     29th April 2021 Uranium hopeful Lotus Resources has started share trading on the Over the Counter (OTC) market in the US under the symbol LTSRF. The company on Thursday told shareholders that its secondary listing on the OTC was aimed at enhancing the visibility and accessibility of the company to North... 

Mining policy should be hugely supportive of exploration’s multiplier magic – investor  

By: Martin Creamer     28th April 2021 Mining, preceded by exploration, is the greatest economic multiplier of all business activities, including government expenditure, says Integral Asset Management chief investment officer Bruce Williamson. It therefore makes huge sense for government to enact attractive investment-friendly... 

Mining policy should be hugely supportive of exploration’s multiplier magic – investor
Integral Asset Management CIO Bruce Williamson interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kazatomprom sells 49% of Ortalyk to China’s CGNPC 

By: Creamer Media Reporter      23rd April 2021 Kazakhstan national operator Kazatomprom on Friday announced that it would sell a 49% interest in Ortalyk to China General Nuclear Power Corporation (CGNPC) for $435-million. The sale and purchase agreement, signed on Thursday, followed a cooperation agreement between Kazatomprom and CGNPC... 

Kazatomprom sells 49% of Ortalyk to China’s CGNPC

Energy Fuels inks MoU for Tennessee monazite supply

By: Creamer Media Reporter      22nd April 2021 US-based Energy Fuels has signed a nonbinding memorandum of understanding (MoU) with Australia-listed Hyperion Metals for the supply of natural monazite sand from Hyperion’s Titan project, in Tennessee. Energy Fuels plans to produce mixed rare earth element (REE) products from processing the... 

Greenland Minerals hopes for meeting with new government

By: Esmarie Iannucci     21st April 2021 ASX-listed Greenland Minerals on Wednesday said that it was seeking consultation with the new Greenland government following the national election in April. The new coalition government, which consists of the Inuit Ataqatigiit and Naleraq parties, has publicly stated a political intention to... 

Greenland Minerals hopes for meeting with new government

Mining association says Canada’s rare earth support too modest to displace reliance on China

By: Mariaan Webb     20th April 2021 The Mining Association of Canada (MAC) has welcomed several expanded and refined measures proposed in the 2021 federal Budget to support the establishment and growth of a domestic battery supply chain, but CEO Pierre Gratton says specific support targeting rare earth elements (REE) is too modest... 

Mining association says Canada’s rare earth support too modest to displace reliance on China
Finance Minister Chrystia Freeland looks at Prime Minister Justin Trudeau as she delivers the Budget in the House of Commons on Parliament Hill in Ottawa on Monday.

Vimy sets A$20m capital raise target

By: Esmarie Iannucci     19th April 2021 ASX-listed Vimy Resources has announced a more than A$20-million capital raise to progress work at its Mulga Rock and Alligator River projects, in Western Australia and the Northern Territory, respectively. The company has received firm commitments from new and existing domestic and... 

Hudson says ‘business as usual’ in Greenland

By: Mariaan Webb     16th April 2021 Canadian development company Hudson Resources is confident that it is “business as usual” for its projects in Greenland, following the Inuit Ataqatigiit (IA) party’s recent election victory. Hudson president Jim Cambon says the IA party has publicly stated that it is pro-mining and that it has... 

New high-grade discovery at McClean Lake uranium JV

By: Creamer Media Reporter      15th April 2021 Canadian uranium company Denison Mines on Wednesday announced the discovery of new high-grade unconformity-hosted uranium mineralisation from the winter 2021 exploration programme completed at the McClean Lake joint venture (JV), which is operated by 77.5% owner Orano Canada. Three of the final... 

New high-grade discovery at McClean Lake uranium JV
Any new discovery on the McClean Lake property has the potential to be a source of future feed for the McClean Lake mill, which has excess capacity.

Uranium Energy ‘pleased’ with drilling results at Texas project

By: Creamer Media Reporter      15th April 2021 US-based uranium mining and exploration company Uranium Energy Corp (UEC) has completed an initial 40 development holes at the first production area (PAA-1) of its Burke Hollow in situ recovery (ISR) project in south Texas. VP for resource development, Andy Kurrus, says the drilling results to... 

Paladin completes retail entitlement offer

By: Esmarie Iannucci     14th April 2021 Uranium company Paladin Energy has completed the retail component of its 1-for-8.5 fully underwritten accelerated non-renounceable pro-rata entitlement offer, raising A$26.2-million. The entitlement offer formed part of Paladin’s plans to raise A$218.7-million to redeem outstanding senior... 

GoviEx signs drilling contracts for Madaouela

By: Donna Slater     13th April 2021 TSXV-listed GoviEx Uranium has signed drilling contracts with Esafor and Foraco to undertake drilling programmes related to a feasibility study for its Madaouela uranium project in Niger. GoviEx CEO Daniel Major says that following the positive results of the updated pre-feasibility study (PFS)... 

Cigar Lake uranium mine to restart this month

By: Creamer Media Reporter      10th April 2021 Canadian uranium major Cameco on Friday announced that the Cigar Lake mine, in northern Saskatchewan, would be reopened this month, but that the timing would depend on how quickly the workforce could be remobilised. Operations at the high-grade uranium mine were halted in December. At the time,... 

Cigar Lake uranium mine to restart this month
Cigar Lake

Exploration industry has tight deadline to comment on controversial draft regulations  

By: Martin Creamer     9th April 2021 South Africa’s exploration industry has until April 19 to comment on controversial regulations still in draft form. “They’ve never consulted industry about it and what they are requesting is impractical,” says Allan Saad, a consulting exploration geologist, who formerly represented the now... 

Exploration industry has tight deadline to comment on controversial draft regulations
Consulting exploration geologist Allan Saad interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Doing everything right - Greenland Minerals

By: Esmarie Iannucci     9th April 2021 ASX-listed Greenland Minerals on Friday moved to calm shareholder concerns around the future of the company’s Kvanefjeld rare earths project. The miner suspended share trading earlier this week after leader of the newly elected Inuit Ataqatigiit party told state broadcaster DR that the... 

Ranger output falls as mining ends

By: Esmarie Iannucci     7th April 2021 Uranium miner Energy Resources of Australia (Era) has reported a more than 90% fall in production for the March quarter, compared with both the previous and the previous corresponding quarters, as processing operations at its Ranger mine, in the Northern Territory, ceased in January. Uranium... 

Value of iridium in electrolysis could top R90bn mark in years ahead – HySA 

By: Martin Creamer     7th April 2021 The value of iridium for proton exchange membrane (PEM) water electrolysis technology alone could exceed R90-billion in the next ten to 20 years. This is the view of Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence: Hydrogen... 

Value of iridium in electrolysis could top R90bn mark in years ahead – HySA
Value chain as outlined by Professor Dmitri Bessarabov, the director of the Department of Science and Innovation's National Centre of Competence.

UEC expands physical uranium purchases

By: Mariaan Webb     6th April 2021 US-based Uranium Energy Corp (UEC) on Tuesday reported that it had expanded its physical uranium initiative to buy an additional 705 000 lb of warehoused uranium, with delivery dates out to December 2022. This brings the contracts that UEC has announced to 2.11-million pounds of uranium oxide at... 

UEC expands physical uranium purchases

Greenland election gets under way

By: Reuters     6th April 2021 Greenlanders began voting in a parliamentary election on Tuesday that could unseat the ruling political party and help decide the fate of vast deposits of rare earth metals which international companies want to exploit. The Arctic island of 56 000 people, which former US President Donald Trump... 

Greenland election gets under way

How South Africa can unlock its exploration potential ­– Adrian Reynolds   

By: Martin Creamer     1st April 2021 Of four factors required to attract investment in exploration, economic and fiscal stability is the most important, says highly experienced geological and mining consultant and nonexecutive company director Adrian Reynolds. Reynolds spoke to Mining Weekly in a Zoom interview about the factors... 

How South Africa can unlock its exploration potential ­– Adrian Reynolds
Geological and mining consultant Adrian Reynolds interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Boss raises A$60m for uranium buy

By: Esmarie Iannucci     29th March 2021 Uranium developer Boss Energy will raise A$60-million in a share placement, to fund the purchase 1.25-million pounds of uranium on the spot market. The company on Monday said that it would issue more than 428.5-million shares, at a price of 14c each, under its existing placement capacity.  

Lotus takes a bigger stake in Kayelekera

By: Esmarie Iannucci     25th March 2021 ASX-listed Lotus Resources has increased its ownership in the Kayelekera uranium project, in Malawi, to 85%. The company told shareholders that it had reached an agreement with Kayelekera Resources to exercise its rights over an additional 20% interest in the uranium project. 

Master Drilling advancing mechanisation for two top-tier local clients  

By: Martin Creamer     23rd March 2021 Mine mechanisation is being advanced for two top-tier  local clients of Master Drilling, the CEO of the JSE-listed company, Danie Pretorius, said on Tuesday. Speaking to Mining Weekly in a Zoom interview after reporting 72.7%-higher 2020 net cash generation of $25.5-million, 18%-lower debt to... 

Master Drilling advancing mechanisation for two top-tier local clients
Master Drilling CEO Danie Pretorius interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Remote-operation drilling footprint providing sizeable benefit – Master Drilling  

By: Martin Creamer     23rd March 2021 An increased remote-operation drilling footprint is providing considerable benefit for Master Drilling, the JSE-listed drilling services company said on Tuesday, when it reported 72.7%-higher 2020 net cash generation of $25.5-million, 18%-lower debt to $42.1-million, and a halved gearing ratio to... 

Remote-operation drilling footprint providing sizeable benefit – Master Drilling
Master Drilling results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Master Drilling in muted but resilient 2020 performance 

By: Martin Creamer     23rd March 2021 Drilling services company Master Drilling, which operates in 23 countries and which is continuing to grow its presence in new global markets, on Tuesday reported a “muted but resilient performance” for the full year ended December 31, thanks to what it described as a “flexible business model and... 

Master Drilling in muted but resilient 2020 performance
Photo by Creamer Media
Master Drilling CEO Danie Pretorius.

Northam pays most tax as growth strategy heads for 8 500 jobs boost 

By: Martin Creamer     23rd March 2021 “We’ve made the single-largest tax payment in the history of the company,” Northam Platinum CEO Paul Dunne said during last week’s presentation of 74%-higher headline half-year earnings.   The JSE-listed platinum group metals (PGMs) mining company’s half-year contribution to the fiscus topped... 

Northam pays most tax as growth strategy heads for 8 500 jobs boost
Northam Platinum CEO Paul Dunne’s half-year presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Paladin completes first part of capital raise

19th March 2021 ASX-listed Paladin Energy has raised the first A$192.5-million of its A$218.7-million target, having completed the institutional placement and institutional component of its entitlement offer. The company earlier this week unveiled plans to raise equity by way of a fully underwritten prorata... 

Paladin announces A$219m equity raise to reset capital structure

By: Mariaan Webb     18th March 2021 Uranium miner Paladin Energy has set out to raise A$218.7-million to redeem outstanding senior secured notes and set it on a path to restart production at its Langer Heinrich mine, in Namibia. The Australia-headquartered miner will raise the equity by way of a fully underwritten prorata... 

Canadian firm plans to start building Niger uranium mine in early 2022

By: Mariaan Webb     18th March 2021 A pilot plant programme at the Dasa uranium project, in Niger, has delivered better-than-expected metallurgical results and with the required operating permits in hand, Global Atomic CEO Stephen Roman says the company is confident it could start building the Dasa mine early next year.... 

UEC takes advantage of spot prices, buys drummed uranium

By: Mariaan Webb     17th March 2021 Pure-play US uranium company United Energy Corp (UEC) is the latest company to announce a strategic investment of physical uranium, taking advantage of spot prices that are below industry production costs. UEC, which is advancing in-situ recovery uranium projects in Texas and Wyoming, said on... 

UEC takes advantage of spot prices, buys drummed uranium

No. 1 uranium miner may enter spot market after Yellow Cake deal

By: Bloomberg     17th March 2021 Kazatomprom, the world’s largest uranium producer, may buy the nuclear fuel in the spot market after a London-listed investment company exercised an option to purchase the metal. Yellow Cake, which bets on uranium prices, said on Monday that it had exercised a $100-million purchase option with... 

Kazatomprom reports 3.6% rise in 2020 net income

By: Reuters     16th March 2021 Kazatomprom, the world's biggest uranium miner, said on Tuesday its 2020 net income rose to 221.4-billion tenge ($528.62-million) from 213.7-billion tenge in 2019 on the back of stronger uranium prices. The Kazakhstan-based company said in a statement that it expected to further boost... 

Yellow Cake CEO sees ‘clear shift’ in uranium sentiment

By: Mariaan Webb     16th March 2021 London-listed Yellow Cake, a specialist company operating in the uranium sector, is increasing its uranium oxide (U3O8) holdings from 9.3-million pounds to 13.2-million pounds and is actively looking for further market opportunities to increase its exposure to the uranium price. CEO Andre... 

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