Uranium Mining News and Commentary

Olympic Dam Taskforce CEO to doubters: We're planning 10,000-strong village, already building airstrip for 737s

Frik Els | May 22, 2012

The copper-uranium-gold-silver project has a 100 year mining life, so a glitch this year was unlikely to sway a company that thinks well ahead, the CEO of the Olympic Dam Taskforce said Tuesday.

Junior resource investment in a financial meltdown – the Good, the Bad and the Ugly

Mineweb | May 19, 2012

Rick Rule's presentation at the New York Hard Assets Conference earlier this week sees some light for the informed junior resource investor despite current patterns which have mostly been Bad or Ugly!
One step closer to a better US permitting process

info@mineralsmakelife.org | May 18, 2012

Yesterday, the House Committee on Natural Resources passed H.R. 4402, the National Strategic and Critical Minerals Production Act of 2012. The bill, offered by Rep. Amodei (R-Nev.), received strong support in the committee and now heads to the full House for consideration.
Paladin’s Malawi mine still not at full production after strike

Mining Weekly | May 17, 2012

Full production at ASX- and TSX-listed Paladin Energy’s Kayelekera uranium mine in Malawi eluded the company’s grasp as workers continued to strike, it said on Thursday.
Uranium Energy Corp acquires Channen Exploration Project in South Texas

PR Newswire via Yahoo! | May 17, 2012

Uranium Energy Corp. has acquired the rights to explore for uranium on the Channen Project, a 10,704-acre property located in southern Goliad County, Texas.
Falling off the supercycle: BHP puts the brakes on capex, stock hits 3-year low

Frik Els | May 16, 2012

“Where the industry previously lacked investment opportunities and choice, it now has more projects than cash flows. All of us in the industry are having to make choices.”
AREVA and Mitsubishi co-operate on Australian uranium exploration

MINING.com Editor | May 16, 2012

AREVA and Mitsubishi Corporation, through their respective subsidiaries Afmeco Mining and Exploration Pty Ltd (AFMEX) and Mitsubishi Development Pty Ltd (MDP), have decided to work together in a uranium exploration program in Australia.
Canadian Cameco to buy German nuclear fuel company Nukem for $136 million

Cecilia Jamasmie | May 14, 2012

Canadian company Cameco, the world's largest uranium miner, has signed a deal to buy Nukem Energy, a German company that trades nuclear fuel products and services, for $136 million in cash plus debt.
Why Canada's deal with China could spark a uranium exploration boom

Stockhouse Bulletin Boards | May 11, 2012

The fast-growing nuclear industry has never been open to China and will create a boom in Canada’s Athabasca Basin for uranium explorers.
Uranium prices to hit rock bottom this year

Cecilia Jamasmie | May 11, 2012

With the price of uranium down about 25% from levels reached before the Japanese earthquake and nuclear disaster in Japan last year, the least the industry wanted to hear was what the latest edition of the Scotiabank Commodity Price Index had to say: the yellow material prices may well bottom in 2012.
The commodity megatrend

Stephan Bogner, Rockstone Research Ltd | May 10, 2012

Commodities have experienced a renaissance after the bursting of the internet bubble at the end of the 20thcentury. The new and long-term upward trend began with most commodities in late 1990s and already lasts nearly 15 years. During this time, most commodity prices manifold strongly.
Wall vs Mulcair: Saskatchewan premier defends mining, oilsands

MINING.com Editor | May 9, 2012

Trading barbs over the allocation of resource revenues is a blood sport in Canada, and the latest contenders are newly minted NDP leader Thomas Mulcair and Saskatchewan Premier Brad Wall.
Denison Mines net loss widens to $52 million on sale of US assets

Frik Els | May 9, 2012

Denison Mines Corp shed 1.2% on Wednesday bringing its losses over the last week to 19% ahead of quarterly results that showed the company widened losses to $51.9 million.
Fukushima now priced into market: Uranium One

Andrew Topf | May 7, 2012

Uranium One said the effects of the Fukushima nuclear power plant meltdown in Japan last March are now priced into the market for uranium oxide.
Japan completely without nuclear power for the first time since 1970

Jeremy Gordon | May 4, 2012

Japan will find itself without nuclear power for the first time since 1970 as the last of its currently operating nuclear reactors prepares to go offline.
New watchwords at BHP: sequencing, discipline, cash flow

Cecilia Jamasmie | May 2, 2012

BHP Billiton addressed shareholder concerns about its ambitious investment plans in four mega-projects on Wednesday saying it will match capital expenditures closely with cash flows and stagger the project pipeline.
US metal and industrial metal mine salaries for 2011

Jack Caldwell | May 2, 2012

There is no such thing as an average miner. There is no such thing as an average salary. Yet we can get some idea of how well mining people are paid by looking at the average salaries for 2011 on US metal mines recently published CostMine.
2011 wages for US metal and industrial mineral mines

Jack Caldwell | May 1, 2012

There are conventionally 2,080 work hours in a year. Thus somebody earning a wage of $20 an hour gets the equivalent of a salary of about $42,000. Considering the mine manager makes about $100,000 to $150,000 a year, it is interesting to take a look at actual wages paid to miners in the United States in 2011.
Cameco gains 5% after strong quarter

Michael Allan McCrae | May 1, 2012

Sales volumes were up 33% at Cameco, the world's largest uranium miner in Q1. Revenue increased 22% to $563 million and gross profit showed a gain of 31% to $178 million.
India's new uranium mine may host one of world's largest reserves

MINING.com Editor | April 30, 2012

In what is considered a major milestone in the Indian nuclear program, the Uranium Corporation of India Ltd (UCIL) commissioned last week a new uranium mine, which may host one of the most significant reserves of the yellow material in the world.
Veteran broker accuses BHP Billiton of destroying own wealth with bad decisions

Mineweb | April 30, 2012

From aborted takeover attempts for Rio Tinto and Potash Corp and what is seen as a disastrous successful one for Petrohawk, BHP Billiton is accused of making many bad decisions at an Australian conference..
BC overpaid by $21 million to settle uranium mine claim: NDP

Andrew Topf | April 29, 2012

The Opposition New Democratic Party is alleging the Liberal government of BC overpaid Boss Energy to abandon plans for a uranium mine near the Interior city of Kelowna.
New high-grade uranium mine granted 10-year lease

Andrew Topf | April 29, 2012

Alliance Resources and Quasar Resources, joint venture partners in a South Australia uranium mine, have been granted a 10-year mining lease on the property located 550 kms north of Adelaide.
Social responsibility in mining is basic risk management, not feel-good projects

Frik Els | April 27, 2012

Corporate Social Responsibility initiatives by mining companies operating in emerging markets in South America, Africa and Asia have become a crucial part of doing business as “above-ground risks are quickly gaining equal footing to traditional geological and engineering considerations for mining projects.”
US studies new law to speed up one of world's longest permitting processes

Cecilia Jamasmie | April 27, 2012

"What is new is the growing awareness of its implications for our nation, particularly in a highly competitive world economy in which the demand for minerals continues to grow, especially in fast growing economies led by China and India."
French uranium supply threatened by strike in Niger

Andrew Topf | April 27, 2012

Niger's uranium workers have downed tools over a dispute with Areva, the French nuclear power giant that owns the Imouraren mine.