Uranium Mining News

Peninsula ups resource estimate at Lance uranium project by 25%

The Directors of Peninsula Energy Limited are pleased to announce a further upgrade to the JORC-compliant resource estimate for the Lance uranium projects in Wyoming, USA. This upgrade has been achieved from the February upgrade by the completion of an additional 300 drill holes.

The Future of Atomkraft

In a dramatic about-face, Chancellor Angela Merkel announced last Monday that Germany will phase out nuclear power completely by 2022, shutting down its nine operational reactors and never restarting the seven reactors that were suspended in the wake of the nuclear disaster at Japan’s Fukushima Daiichi plant.

Results of Italian referendum: voters say no to more nuclear power plants

Energia Minerals Limited (ASX: EMX) notes that a referendum was held in Italy on the 12th and 13th of June 2011 to decide whether to remove laws passed last year to restart a domestic nuclear energy program in the country. The result of the referendum was that Italian citizens have voted to remove the laws and, accordingly, remove the framework to potentially develop nuclear energy production facilities in Italian territory.

Uranium Energy Corp signs first multi-year sales contract

Uranium Energy announced that it has secured its first multi-year uranium sales contract. The sales contract provides for the delivery of 300,000 pounds of U3O8 over a period of three years starting in August 2011 from its Hobson processing facility, with the price to be based on published market price indicators at the time of delivery.

Immigration surges as Australia’s mining boom resonates in Europe

About 100 men in their 20s and 30s, filled a conference room at a Dublin hotel last week to hear a migration agent describe the personal fortunes waiting to be made a world away in the booming mining towns of the Australian outback. With unemployment running at close to 15 percent in Ireland, and local wages a fraction of those now on offer in Australia, it appeared to be an easy sell.

Luke Burgess: Gangbuster gold equities in the Yukon

Wealth Daily Editor Luke Burgess loves the word "gangbuster." It makes him laugh, and it signals great opportunities for investors to make money. In his first exclusive interview with The Gold Report, he shares this take on Yukon gold plays and diversification among small-cap equities, be they gold, silver or rare earth plays.

Mining tax mystery tour

THE Gillard government's credibility is about to take another battering, this time on one of its more complex and ad hoc tax reforms, the minerals and resources rent tax, as some key players in the […]

German nuclear phaseout means more coal

Germany will need more coal plants if it is to phase out nuclear power, Chancellor Angela Merkel said. "If we want to quickly get out of nuclear power and into renewable energy, we need fossil-fuel power plants.

Why Japan will turn to solar energy following Fukushima

As the dire news continues to leach out of Fukishima, the silver lining in its nuclear cloud is that renewable energy technologies, despite their daunting start-up costs, are receiving renewed scrutiny.

Analyst urges caution as First Uranium dips to all-time lows

G&M reports on First Uranium’s (TSE:FIU) shares at an all-time low. The market news is quoted as saying: First Uranium lost 9 cents (U.S.) per share in the quarter, 4 cents worse than street estimates, with similarly disappointing cash flow figures. It also dropped its fiscal 2012 gold and uranium production guidance. First Uranium is developing gold and uranium extraction operations at the underground Ezulwini mine and its Mine Waste Solutions tailings recovery facility, both in South Africa. It has a $150-million (Canadian) convertible debenture expiring in June of next year and another $175-million of debentures due in 2013.

E.ON to sue over Germany's nuclear exit, an industrial info news alert

The German government is facing a major legal battle over its planned early exit from nuclear power as energy giants E.ON AG (PINK:EONGY) (Dusseldorf, Germany) and RWE AG (PINK:RWEOY) (Essen, Germany) want billions of euros in compensation. E.ON made its intentions clear this week when it outlined plans to take legal action against the government's decision to continue demanding its controversial nuclear tax, despite shutting down the oldest nuclear plants. In March, RWE announced that it would take legal action against the government's closure o those seven nuclear plants.

Today in Commodities: USDA big news today

No curve balls from the USDA but as for food prices look for prices to stay elevated. Crude will settle approximately 1% higher in today’s session trading briefly over $102/barrel in the July contract. We […]

Hathor's summer expansion drilling is underway at Roughrider's far east zone

Hathor Exploration Limited (TSX:HAT) is pleased to announce that the 2011 summer diamond drill program is underway at the Roughrider Uranium Deposit in the Athabasca Basin of northern Saskatchewan. Two rigs are now on site and drilling has begun. The program will run for approximately 8 weeks, with some 7,000 metres of drilling planned. The drill program will be extended for as long as the mineralization at Far East remains open to the east.

Australian minister expects continuing growth in uranium exports despite Fukushima

Australia said the Fukushima nuclear disaster in Japan would not curb the world's appetite for uranium and predicted its exports will continue to rise as its develops more mines. Spending on exploration in Australia to find more uranium is expected to rise by more than third this year, Australia's minister for mines, Martin Ferguson, said in a speech to geologists on Thursday.

Uranium Energy Corp Reports Fiscal Third Quarter Production Results and Provides Operations Update

Uranium Energy Corp (NYSE AMEX:UEC, the "Company") is pleased to report its financial and production results for the nine months ended April 30, 2011.  Major highlights during the third quarter include the following: Results continue to indicate low-cost production profile: During the third quarter, which incorporates our first full quarter of Palangana Mine production, we produced 49,000 pounds of U3O8 in inventory, including work-in-progress, versus 21,000 pounds in the previous quarter. 

Commodity prices should snap higher in H2, dollar unlikely to recover until 2012 – Morgan Stanley

Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies. He argues that it was perhaps inevitable that […]

CanAlaska Uranium to list on the Toronto Stock Exchange

CanAlaska Uranium Ltd. (TSXV: CVV)  ("CanAlaska" or the "Company") is pleased to announce that its common shares will be listed and commence trading on the Toronto Stock Exchange ("TSX") within the next two weeks.  The company's current trading symbol, CVV, will remain unchanged. "This graduation to the senior TSX board represents another milestone in the development of CanAlaska Uranium," said Mr. Peter Dasler, President & CEO.

Nuclear's renaissance still on track

The full cost of the Fukushima nuclear disaster is yet to be established but its impact on the nuclear sector as a whole may not be as bad as was first thought - even with the loss of Germany as an active participant.

Germany sued for billions over nuclear exit

Industrial Info reports the German government is facing a major legal battle over its planned early exit from nuclear power as energy giants E.ON AG want billions of euros in compensation. E.ON made its intentions clear this week when it outlined plans to take legal action against the government's decision to continue demanding its controversial nuclear tax, despite shutting down the oldest nuclear plants. In March, RWE announced that it would take legal action against the government's closure o those seven nuclear plants.

U.S. opinion leaders ask Obama to continue Grand Canyon uranium mining ban

In an open letter contained in an ad published this week in the New York Times, 50 politicians, actors, scientists and public officials urged the Obama Administration extend a 1-million acre mining ban around the Grand Canyon National Park for 20 years. In 2009 U.S. Secretary of the Interior Ken Salazar issued a federal order calling for a two-year "time-out" from all new mining claims in the Arizona Strip near the Grand Canyon. The lands blocked from new exploration and mining activity includes acreage managed by the Bureau of Land Management and the U.S. Forest Service. Image is from Wikipedia and Chensiyuan

Ignoring Germany's nuclear u-turn

On Monday, Germany announced that it’s going to shut all its nuclear power plants by 2022. What a difference a year makes. Because only a year ago, the country announced plans to extend the life of its nuclear power plants. So what’s up? According to German Chancellor Angela Merkel, “We want the electricity of the future to be safe, reliable and economically viable.” And in her mind, nuclear power doesn’t fit the bill anymore.

Unprecedented volumes on Africa’s biggest heap leach pad project

Construction activities have reached peak intensity on the 34-month Maxi Heap Leach Pad project for French nuclear company AREVA at its Trekkopje uranium mine in Namibia, which will feature in IM’s July issue. The Trekkopje JV, comprising Concor Roads & Earthworks as lead partner, together with Grinaker-LTA and Basil Read, reports that it has been consistently achieving its present productivity targets on what is a complicated project that requires precision planning and programme scheduling.

First Uranium announces financial results for the three and twelve months ended March 31, 2011

First Uranium announced total gold sales for its financial year ended March 31, 2011 ("FY 2011") of 142,630 ounces of gold, which is a significant increase over the 91,657 ounces sold at the end of March 31, 2010. The Company's consolidated revenue of $172 million for FY 2011, an increase of 86% from $93 million in revenue for FY 2010, resulted in the Company reflecting a $20 million gross profit margin from operations in FY 2011 compared to a loss of $18 million in FY 2010. Remembering that First Uranium remains in a capital development and growth phase, the consolidated pre-tax loss for the year was $76 million, which is a 19% improvement over the pre-tax loss of $94 million in FY 2010.

Purepoint Uranium Group Inc. completes flow-through financing with MineralFields Group and others

Purepoint Uranium Group Inc. (TSX VENTURE:PTU) is pleased to announce that it has completed a private placement of 2,272,727 units ("Units") at a price of $0.22 per Unit for gross proceeds of $500,000 to a group of investors including MineralFields Group. Each Unit will consist of one flow-through common share of Purepoint and one-half of a warrant ("Warrant"). Each whole Warrant will entitle its holder to acquire one non-flow-through common share of Purepoint for a period of 24 months from the date of issuance, at a price of $0.30 per share during the first 12 months and $0.35 per share during the second 12 months. All securities issued under this private placement are subject to resale restrictions until October 4, 2011.

Staying bullish on uranium

The fear around nuclear energy is palpable. The catastrophic events in Japan on March 11 have put a damper on the momentum of what was fast becoming a nuclear renaissance. For the past several years, nuclear proponents promoted nuclear energy as a clean, efficient, reliable and safe alternative to dirty fossil fuels, and the world agreed.