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Uranium News

Metals and mining M&A up in February relative to January

By: Rebecca Campbell     27th March 2020 Research and consultancy company GlobalData has reported that mergers and acquisition (M&A) activity in the global mining and metals sector during February was, in value, higher than in January, but still substantially lower than the average figure for the previous 12 months. It was also very far... 

Lotus adds to Kayelekera resource

By: Esmarie Iannucci     26th March 2020 ASX-listed Lotus Resources has reported a 31% increase in the mineral resource at the Kayelekera uranium project, in Malawi. The company said that the resource increase was driven by the identification and inclusion of a previously unmodelled high-grade basal arkose unit beneath the pit, and the... 

Paladin completes Kayelekera sale

By: Esmarie Iannucci     18th March 2020 ASX-listed Paladin Energy has completed the divestment of its 85% stake in the Kayelekera asset, in Malawi, reducing the company’s forecast capital expenditure by around $5-million a year. Kayelekera was idled in 2014 on the back of low uranium prices. The project includes a... 

Paladin completes Kayelekera sale

By: Tasneem Bulbulia     13th March 2020 ASX-listed Paladin Energy on Friday completed the sale of its 85% interest in Paladin Africa to Lotus Resources and Lily Resources. Paladin will hold the interest on trust pending receipt of the final in-country approvals. Paladin Africa wholly owns the Kayelekera uranium mine, in Malawi. This... 

Prospect of successful ISR mining in Athabasca basin ‘higher than ever’

By: Mariaan Webb     6th March 2020 Uranium exploration and development company Denison Mines’ confidence in the application of in-situ recovery (ISR) at the Wheeler River project’s Phoenix deposit, in the Athabasca basin, is growing. The results of test work completed in 2019 have “meaningfully” boosted the TSX-listed company’s... 

Prospect of successful ISR mining in Athabasca basin ‘higher than ever’

Kazatomprom keeps 2020 guidance stable

By: Mariaan Webb     5th March 2020 Kazakhstan’s national uranium miner Kazatomprom on Thursday reported attributable production of 13 291 t of U3O8 and said its guidance for 2020 remained flat at between 12 800 t and 13 300 t, in line with its market-centric strategy. On a 100% basis, 2019’s production was 22 808 t, which is 5%... 

Kazatomprom keeps 2020 guidance stable

MCA applauds call for a uranium ban recall in NSW

By: Esmarie Iannucci     4th March 2020 The Minerals Council of Australia has welcomed recommendations that a uranium mining ban in New South Wales be repealed. The recommendation was one of those made by the New South Wales Legislative Council’s report into the Uranium Mining and Nuclear Facilities (Prohibitions) Repeal Bill. 

Paladin secures Ministerial consent for Kayelekera sale  

By: Tasneem Bulbulia     2nd March 2020 Australia-based resource company Paladin Energy has received the outstanding Ministerial consent for the completion of the sale of its 85% interest in its subsidiary, Paladin Africa, to Lotus Resources (65%) and Lily Resources (20%). Paladin Africa wholly owns the Kayelekera uranium mine, in Malawi. 

Paladin widens loss, still mulling mine restart

By: Esmarie Iannucci     28th February 2020 Uranium company Paladin Energy has widened its net loss during the six months ended December, as operations at its Langer Heinrich project, in Namibia, remained suspended. Net loss for the six months to December increased to $19.4-million, compared with a loss of $18.3-million in the previous... 

Policy review could improve investor confidence

By: Darren Parker     21st February 2020 Mining consulting firm The MSA Group is hoping that the review of Namibia’s Minerals (Prospecting and Mining) Act will enhance the country’s “friendliness” toward mining investors. The MSA Group principal consultant Mike Robertson says the 1992 legislation has been under review since 2018.... 

Policy review could improve investor confidence
DRIVING INVESTMENT Namibia’s reliable transport infrastructure, despite the remote nature of many sites of mineral interest, is attractive to investors

Namibian policy uncertainty a concern

By: Darren Parker     21st February 2020 A key issue creating uncertainty among Namibia’s mining investors is the non-deductibility of royalties and export levies for non-diamond mining, which was announced during the Namibian 2019/20 Budget Speech by Namibian Finance Minister Calle Schlettwein, presented to Namibia’s Parliament in... 

Namibian policy uncertainty a concern
VESTON MALANGO The effect of the non-deductibility of royalties is double taxation, which erodes project viability for new mines or planned expansion of activities

Uranium sector improving

By: Darren Parker     21st February 2020 The Namibian uranium sector is under pressure, but Namibian Uranium Institute (NUI) executive director Dr Gabi Schneider believes that it is improving. “The sector is negatively impacted on by the low uranium price, but as the world builds new nuclear power plants, and with the realisation that... 

Uranium sector improving
Photo by Bloomberg
YELLOW FEVER The targets of the Paris climate accord cannot be met without nuclear power generation, which means that the uranium demand is expected to rise

Denison upbeat about Phoenix ISR initial core leach tests results

By: Creamer Media Reporter      19th February 2020 Initial data from core leach tests at the Phoenix in-situ recovery (ISR) project has established uranium concentrations that are up to four times the amount assumed in the prefeasibility study (PFS), dual-listed Denison Mines reports. The test work returned concentrations of 13.5 g/l to 39.8... 

Energy Fuels applauds Trump’s $1.5bn plan to establish uranium reserve

By: Mariaan Webb     12th February 2020 US-based uranium mining company Energy Fuels CEO Mark Chalmers has hailed President Donald Trump’s commitment to establish a strategic uranium reserve as an “important step” towards addressing the country’s overdependence on uranium imports from Russia and its allies. To set up the reserve,... 

Trump budget proposes $150m for creation of uranium reserve

By: Reuters     11th February 2020 President Donald Trump's 2021 Budget proposed $150-million for the creation of a US uranium reserve as the administration seeks to help struggling producers of the fuel for nuclear power reactors. The money, if approved by Congress, would begin the process of purchasing uranium, Energy Secretary... 

Trump budget proposes $150m for creation of uranium reserve
US President Donald Trump

Uranium major Cameco’s optimism in market transition is growing

By: Mariaan Webb     10th February 2020 Tim Gitzel, president and CEO of uranium major Cameco, believes optimism and confidence in the uranium market is growing, with demand going up, while supply is decreasing. “The fundamentals are really quite simple, demand is on an upswing and utilities have a growing wedge of uncovered... 

Uranium major Cameco’s optimism in market transition is growing
Cameco CEO Tim Gitzel

Finland to become EU's only uranium producer

By: Reuters     6th February 2020 The Finnish government gave the green light on Thursday for state-owned Terrafame to extract and refine uranium in eastern Finland, paving the way for the country to become the European Union's only uranium producer. Terrafame is backed by commodities house Trafigura. It plans to produce uranium... 

Finland to become EU's only uranium producer

Paladin appoints new CEO

By: Esmarie Iannucci     4th February 2020 Ian Purdy has been appointed as the new CEO for uranium company Paladin Energy, starting on February 4. Purdy was previously the CFO of oil and gas producer Quadrant Energy, assisting in transforming the company from a branch office of a large multi-national oil and gas company into a full... 

Global Atomic optimising study on Niger uranium project

By: Creamer Media Reporter      30th January 2020 Toronto-listed Global Atomic has started an optimised preliminary economic assessment (PEA) for the Dasa uranium project, in Niger, incorporating a zone which CEO Stephen Roman says has been a “game changer” for the initial Phase 1 mining plan. “With high grades of 0.5% U3O8 we envision a small... 

Honeymoon uranium feasibility study proves up for Boss

By: Esmarie Iannucci     21st January 2020 A feasibility study into the Honeymoon uranium project, in South Australia, has estimated that a capital investment of $63.2-million would be required to restart the operation. ASX-listed Boss Resources said that the feasibility study base case had been limited to the restart area only, which... 

Deep Yellow launches Namibian PFS

By: Esmarie Iannucci     21st January 2020 The board of ASX-listed Deep Yellow has green-lit a prefeasibility study on the Tumas uranium project, in Namibia, following a positive scoping study. The scoping study, which focused on the Reptile project’s Tumas palaeochannel calcrete deposits, focused on openpit mining and a purpose-built... 

PEA for South Dakota uranium project filed

By: Creamer Media Reporter      20th January 2020 TSX-listed Azarga Uranium is aiming to produce about one-million pounds a year of uranium oxide (U3O8) at a direct cash operating cost of $10.46/lb, in South Dakota, US. The company on Friday filed NI 43-101 technical report and preliminary economic assessment (PEA) for its Dewey Burdock in-situ... 

Uranium set for resurgence in Aus

By: Esmarie Iannucci     20th January 2020 Data analyst Global Data has predicted that uranium mining could see a resurgence in Australia, as global demand intensifies. Quoting a report by the World Nuclear Association (WNA), Global Data’s mining technology writer Scarlett Evans noted that an oversaturated market led to a general decline... 

Laramide raises funds

By: Esmarie Iannucci     17th January 2020 Dual-listed Laramide Resources has raised C$4.5-million through the private placement of 22.5-million units at a price of 20c. Each unit consisted of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of 30c each for a period... 

Aura raises A$475 000 for working capital

By: Tasneem Bulbulia     15th January 2020 Uranium development company Aura Energy has raised an aggregate of about A$475 000, before expenses, through the issue of ordinary shares through a placing and subscription. The company is also issuing one share option for every two new shares issued. 

Israel report says Iran could have uranium for bomb by year-end

By: Bloomberg     15th January 2020 Iran can have enough uranium to build a nuclear bomb by the end of the year, Haaretz reported, citing Israeli military intelligence assessments. According to the assessments, Iran doesn’t have a missile that can carry a nuclear warhead, and would need at least two years to develop one, the... 

Canada and US finalise critical mineral collaboration plan

By: Mariaan Webb     10th January 2020 Canada and the United States have finalised their joint action plan to collaborate on minerals they deem critical – including uranium and rare-earth elements – delivering on the June 2019 commitment by Prime Minister Justin Trudeau and President Donald Trump. The US last year stepped up efforts... 

Canada and US finalise critical mineral collaboration plan
Canadian Prime Minister Justin Trudeau and US President Donald Trump.

Water around Rio Tinto's Madagascar mine is high in lead, uranium - study

By: Reuters     20th December 2019 Water downstream of a Rio Tinto mine in southern Madagascar contains high concentrations of uranium and lead, potentially endangering local residents who depend on a nearby lake and river for drinking water, a study released on Friday found. Lead, when ingested, can impede the mental and... 

New Kayelekera owner plans to re-engineer Malawi uranium project 

By: Esmarie Iannucci     20th December 2019 Malawi’s Minister for Natural Resources, Energy and Mining has given ASX-listed Paladin Energy consent to divest of its 85% stake in the Kayelekera uranium project. Paladin in June this year struck an agreement with Lotus, a subsidiary of Hylea Metals, to divest of 65% its interest in the... 

New Kayelekera owner plans to re-engineer Malawi uranium project

Denison wraps up ‘first-of-its-kind’ ISR testing

By: Creamer Media Reporter      18th December 2019 TSX- and NYSE-listed Denison Mines has completed the 2019 in-situ recovery (ISR) field test programme in the Phoenix uranium deposit, at the Wheeler River project, in Saskatchewan, Canada. The company hailed the “first-of-its kind” ISR testing programme as “highly successful” and said the... 

Resources sector welcomes nuclear report

By: Esmarie Iannucci     13th December 2019 The Minerals Council of Australia (MCA) has welcomed a report by the House of Representatives Standing Committee on the Environment and Energy into nuclear fuel technology in Australia, saying it was an important step in the overdue and rigorous assessment of nuclear power in Australia. The... 

Rio weighing options in ERA funding row

By: Esmarie Iannucci     12th December 2019 Diversified major Rio Tinto on Thursday said that it would ‘consider its options’ regarding the proposed A$476-million capital raise by uranium miner Energy Resources of Australia (ERA), after the Australian Takeovers Panel declared unacceptable circumstances. ERA shareholder Zentree... 

Pure-play uranium royalty firm heads for TSX-V

By: Creamer Media Reporter      9th December 2019 Pure-play uranium royalty company Uranium Royalty (URC) has raised C$30-million in an initial public offering (IPO) and expects to start trading on the TSX-V this week. The IPO consisted of the issuance of 20 000 000 units at $1.50 each, comprising one common share of the company and one common... 

Trump panel urges US to buy more uranium from American miners

By: Bloomberg     5th December 2019 A White House task force is recommending that President Donald Trump direct the federal government buy more uranium from domestic producers, according to two people familiar with the matter. The purchase of uranium by the US Defense Department is among the recommendations being made by the US... 

Trump panel urges US to buy more uranium from American miners
A mothballed uranium mine in Utah.

Paladin fields more questions from Kayelekera sale  

By: Esmarie Iannucci     2nd December 2019 ASX-listed Paladin Energy on Monday announced that the sale of its 85% interest in the Kayelekera uranium project, in Malawi, will now be subjected to additional obligations set by the Minister of Natural Resources, Energy and Mining. The additional obligations, which include the provision of... 

Winds of change blowing in Aus

By: Esmarie Iannucci     2nd December 2019 Polling done on behalf of the Minerals Council of Australia (MCA) has shown that four out of ten Australians support lifting the ban on nuclear power in Australia. The polling, done by JWS Research, fo0und that 39% of Australians supported the use of nuclear power in Australia. 

Peninsula raises cash for Wyoming uranium project

By: Esmarie Iannucci     29th November 2019 Uranium developer Peninsula Energy will raise A$9.1-million through a share placement and entitlement offer to fund work at its Lance uranium project, in Wyoming. An initial A$7-million will be raised through an institutional placement, with 42.42-million shares to be issued at a price of 16.5c... 

Kazatomprom posts 48% jump in third-quarter profit

By: Reuters     28th November 2019 Kazakh uranium miner Kazatomprom reported a 48% increase in third-quarter consolidated net profit on Thursday to 38.026-billion tenge ($98.4-million). The company's revenue fell 38% while its cost of sales shrank 71%, its unaudited financial report showed. 

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