Cameco

Why Canada's deal with China could spark a uranium exploration boom

The fast-growing nuclear industry has never been open to China and will create a boom in Canada’s Athabasca Basin for uranium explorers.

Uravan signs $22 million uranium exploration agreement

Uravan Minerals and Cameco have signed an agreement whereby Uravan granted Cameco the exclusive option ("Option") to earn an aggregate 70% interest in Uravan's 100% owned Halliday and Stewardson uranium projects (the "Mineral Properties"), Athabasca Basin1, Northern Saskatchewan [map link] by Cameco funding a cumulative twenty-two million dollars ($22,000,000) in exploration expenditures.

Got uranium? Looming supply crunch & junior activity heat up Athabasca

Lately, we’ve had the pleasure of witnessing a slow but steady revival of the uranium scene in the renowned Athabasca Basin. This revival followed Rio Tinto’s takeover of Hathor Exploration [HAT – TSX] and its Roughrider uranium project for $654 million. Shortly after, Stephen Harper reached a deal with China to significantly increase Canadian uranium exports.

Analysts raise uranium targets as producers show signs of life

One year after Japan’s Fukushima nuclear crisis, analysts are hiking ratings and price targets on uranium companies that have posted some impressive gains of late.

Cameco buys Areva’s uranium Millenium Project for $150 million

Cameco Corp. (TSX: CCO; NYSE: CCJ), Canada’s largest uranium company, said it agreed to buy Areva Resources Canada’s 27.94% stake in the northern Saskatchewan-based Millennium project for $150 million. With this acquisition Cameco becomes the majority holder in the proposed uranium mine.

Cameco's Cigar Lake Saskatchewan mine dealing with outbreak of nasty norovirus

A northern Saskatchewan mine is dealing with an outbreak of norovirus. At least three workers at Cameco's Cigar Lake mine are confirmed to have the virus and another 100 workers are showing symptoms.

Cameco reports record revenue from high uranium prices

While the nuclear industry outlook remains uncertain for the near to medium term, Cameco foresees "a very strong and promising growth profile" in the long term.

Rio wants Canada's uranium legal controls lifted

Rio Tinto's chief executive Tom Albanese said on Saturday that he would lobby Canada to ensure it was the operator of the Roughrider uranium project in Saskatchewan, despite legal hurdles, after its successful takeover of Hathor. At the start of December, Rio emerged the winner after beating out world number one uranium miner, Canada's Cameco, with a $643 million bid for the explorer.

As Gitzel folds in Hathor battle, Cameco continues to 'scour world' for targets

TORONTO (miningweekly.com) – In backing down from a bidding war with Rio Tinto for Canadian uranium junior Hathor Exploration, Cameco CEO Tim Gitzel showed impressive restraint after he brazenly bid for the company having spent barely two months in the corner office.

Rio Tinto CEO mum on Hathor counteroffer

Rio Tinto CEO Tom Albanese wouldn't say if his company would raise its bid for a Canadian uranium developer after a rival bid Tuesday.

Cameco signs MOU to mill Cigar Lake ore at McClean Lake

Cameco Corp. has signed a non-binding memorandum of understanding with its joint venture partners to mill all Cigar Lake ore at the McClean Lake mill.

Cameco signs MOU to improve Cigar Lake project economics

Cameco (TSX:CCO) (NYSE:CCJ) announced today it has signed a non-binding memorandum of understanding (MOU) with its joint venture partners to mill all Cigar Lake ore at the McClean Lake mill.

The new milling arrangement is expected to result in a significant reduction in the operating cost of the Cigar Lake project, which is 50% owned and operated by Cameco. The other Cigar Lake joint venture partners are AREVA Resources Canada Inc. (37%), Idemitsu Resources Canada Inc. (8%) and Tepco Resources Inc (5%).

Striking uranium workers 'defeat logic'

A strike appears imminent at Rio Tinto's Rssing Uranium Mine in the Namibian-Naukluft Park (pictured) after workers unhappy over production bonuses on Wednesday voted unanimously in favour of industrial action that could cripple operations at the mine responsible for some 5% of world production. Management said the demands were unreasonable and defeat logic.

The industrial action takes place at a difficult time for the uranium industry with the spot price recently falling below $50 – levels last seen immediately after the nuclear accident at Fukushima. The sector has lost some 40% of its value since the Japan disaster and the first deal of what is expected to be widespread consolidation in the industry is already shaping up to be a classic David and Goliath fight.

Hathor buffs Roughrider ahead of new response to Cameco

Junior explorer Hathor Exploration on Tuesday said a preliminary economic assessment of its Roughrider uranium deposit showed it would potentially be one of the lowest cost uranium producers in the world at only $14.44/lb U3O8.

The junior uranium company is the target of a hostile bid from world number one uranium miner Cameco and has gained about 56% since the offer and 121% since the start of the year. Hathor believes its worth more than the offer price and said it will formally respond tomorrow (September 14) and urged shareholders to sit tight.

Cameco profit drops 23%; lowers demand forecast

Canada's largest uranium producer lost 23% of its profits in the second quarter, as uranium sales volumes declined.

In announcing its second-quarter results Thursday, Saskatoon-based Cameco also lowered its industry forecast in the wake of the Japan Fukushima nuclear crisis, which has slowed the expansion of nuclear power in Japan and resulted in Germany deciding to move away from atomic energy by phasing out and shutting down nuclear reactors.

Cameco invests $5 million more in PhosEnergy process for uranium recovery

Demonstration plant construction completed and undergoing final commissioning for the recovery of uranium as a by-product of phosphate fertiliser production. The third stage investment, to be used to further the jointly held technology, brings Cameco’s total investment in the PhosEnergy Process to $12.5 million and represents a further strong endorsement of the potential of the process. Read more

Cameco, Uranium One shares fall on Germany’s nuclear decision

Shares of top Canadian uranium producer Cameco (CCO.TO: Quote) slipped as much as 4.4 percent on Monday, after Germany said that it plans to shut all its nuclear reactors by 2022.

The move to shut down its nuclear program comes just nine months after Berlin announced an extension to the lifespan of its plants by an average 12 years.

Cameco profit down from $143 million to $91 million in Q1

Cameco announced Q1 results on Friday. Net earnings came in at $91 million compared to $143 million a year ago. The company said the decline was due to lower earnings at all its electricity, uranium and fuel services businesses and an increase in average cost of product sold.

The company said production volumes were 23% lower this quarter due to lower production at McArthur River/Key Lake.

Uranium Resources and Cameco poised to rebound after plummeting in March

After investors fled the sector because of the nuclear power plant crisis in Japan, uranium stocks are beginning to mount a comeback. Nuclear power construction is likely to continue its rapid growth, largely because there aren't many strong alternatives. As vice-president of the China Nuclear Energy Association, Zhao Chengkun, explains, nuclear is the only energy source that can be used on a mass scale to achieve the nation's goal of developing cleaner, low carbon energy.

Cameco CEO says nuclear future still sound: Reuters

Cameco Corp (CCO.TSX) remains confident that the long-term outlook for uranium is solid despite global anxiety over radiation from an earthquake-crippled nuclear plant in Japan, Chief Executive Jerry Grandey said on Monday.

Speaking to Reuters in an exclusive interview at the Mining and Steel Summit, Grandey said that while the so-called nuclear renaissance will be slowed by the crisis in Japan, more uranium will be needed in the next few years to fuel reactors already online and under construction.

Nuclear renaissance will survive despite Japanese crisis – Cameco

As Japan teeters on the brink of a disaster at its Fukushima DaiIchi nuclear power plant, Cameco chief Jerry Grandey suggests the uncertainty may delay, but not end the global nuclear renaissance.

Vena's Uranium Resource Expansion Program in Macusani Successfully Extends Higher Grade Uranium Zone to South and West

Vena Resources Inc. ("Vena" or the "Company") (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF)(XETRA®:V1R.DE), a Company with strong partnerships with some of the world's largest mining companies, is pleased to announce the initial results of the third major drill campaign on the Macusani properties of Minergia …

Forum and Mega Option the Maurice Bay Uranium Deposit From Cameco

Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce that the Company has entered into an option agreement with Cameco Corporation whereby Forum and Mega Uranium Ltd. may jointly earn a 60% interest in the 98 square kilometer North West Athabasca project, including the historical 1.5 million pound Maurice Bay uranium deposit in the Western Athabasca Basin.

Cameco forecasts lower 2011 uranium production

Cameco CEO Jerry Grandey said the company "had an excellent year in 2010" as the company achieved the best safety record in its history, increased production and raised its dividend.

Cameco taps nickel-zinc mine in Finland for more uranium

Cameco announced on Wednesday that it had reached an agreement with the Talvivaara Mining Company Plc. to help process uranium at the Sotkamo nickel-zinc mine in eastern Finland.