Uranium Mining News

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.

Nunavut to benefit from 'tsunami' of money flowing into Canadian mining, oil and gas: Nunatsiaq Online

Nunavut is attracting the attention of the world's miners like never before, says Scotiabank commodities analyst Patricia Mohr, speaking at a mining summit in the mineral-rich Canadian northern territory. Nunatsiaq Online reports: Pushed by the developing world’s growing hunger for consumer items, civil unrest in many countries, and “random” events like the recent tsunami, earthquake and nuclear power plant disaster in Japan, mining companies around the world are eying Nunavut with far more interest than before.

Husab (Rossing South) ‘most exciting uranium project in the world today’

Definitive Feasibility Study suggests Husab (Rossing South) uranium project could develop into one of the three largest uranium mines in the world today.

How to play nuclear energy's implosion? Buy it

Over two weeks ago a 8.9 earthquake hit off the coast of Japan, sending tsunamis to destroy the mainland. Once the tsunami hit, Japan had a new problem, nuclear reactors were failing and radiation was pouring out. Japan is still have trouble calming down those reactors and it looks like the worst may be over but it has caused the world to rethink nuclear energy as a good source of energy.

Greenland may become an important player in global rare earth

Although Greenland has been known as a source of uranium for many years, its recent development as a base for rare earth extraction could not be much timelier.

Uranium prices will be choppy this year: Resource Capital Research

The uranium spot market will experience increased volatility over the next three to nine months, according to a study released today by Resource Capital Research. "The impact of the damaged nuclear reactors in Japan to the outlook for nuclear energy will likely take 12 months to fully unfold. However, mid to long term, growth in the sector is expected to remain buoyant, albeit on a flatter trajectory than previously thought, driven by strong fundamentals, including the global need for low carbon, base load electricity generating capacity," said John Wilson, Managing Director of Resource Capital Research, in a statement.

BHP Billiton moves to feasibility stage of Olympic dam expansion

Top global miner BHP Billiton has moved into the feasibility study stage of preparing a long-awaited expansion of the Olympic Dam copper and uranium mine in South Australia.

Markets quake

The metals markets were briefly sidetracked by the Japanese earthquake and subsequent nuclear emergency. Gold did not know whether to go up or down in response to the damage wrought in Japan and the financial measures the Japanese government took. Was it inflationary? Or was it the straw that broke the camel's back of global recovery? Read the full report

South Australia’s UraniumSA develops breakthrough to extract uranium from hyper saline waters

A world breakthrough in extracting uranium from hyper saline water - previously not possible with conventional technology - has been announced in South Australia by uranium developer, UraniumSA.  Addressing the first day in Adelaide of the Paydirt 2011 Uranium Conference, earlier this qweek, UraniumSA’s Managing Director, Russel Bluck, said the breakthrough had been achieved after collaborative metallurgical research with international and Australian suppliers of the special chemicals used to help extract uranium.

Climate change specialist says 21-fold expansion of nuclear power needed by 2060

Professor Barry Brook, chairman of the Sir Hubert Wilkins Chair of Climate Change at the University of Adelaide, told the final day of the Paydirt 2011 Uranium Conference in Adelaide that change in supply dynamics would require a large-scale but prudent expansion of nuclear energy infrastructure.

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.

Disaster in Japan won't affect uranium sales, says Australian PM

Despite the crash in uranium stocks last week, including a 15% drop in Rio Tinto majority-owned Energy Resources of Australia, Australian PM Julia Gillard insists the Japanese crisis will not affect uranium sales. Gillard made the remarks on Sky News and were reported in The Australian:

Russian nuclear firm suspends uranium mining deal in Tanzania

The East African reports that the Russian state-owned nuclear energy firm JSC Atomredmetzoloto (ARMZ) is shelving a plan to acquire the $1.16 billion Mkuju Uranium assets in Southern Tanzania over the recent Japanese nuclear plant crisis. The move comes a month after the Russian firm obtained a take-over approval from the government of Tanzania under the Fair Competition Act 2003. The Tanzanian government had said that it would start higher grade uranium mining in early 2012 at Mkuju River following the completion of the feasibility study and the approval of environmental impact assessment of the area.

Inuit residents reject uranium mining at public forum

As Japanese workers and scientists battle to prevent a nuclear meltdown at the Fukushima plant, most Nunavut residents who showed up to a public forum Thursday night rejected the spectre of uranium mining in the northern Canadian territory. Many Nunavummiut who attended a uranium forum Thursday night said they do not want uranium mining in Nunavut, while some even attacked the territory's Inuit group for supporting uranium development.

First Uranium: S Africa mine operations resume

Canadian gold and uranium producer First Uranium Corp (FIU.TO) said on Friday it has resumed underground operations at its Ezulwini gold mine in South Africa. A temporary work stoppage instruction was issued on March 12 by the South African Department of Mineral Resources, pending investigations after a worker died in fall of ground.

Uranium punters wade back in

The Australian's Tim Boreham weighs in on the uranium stock crash: How many more images of steam billowing from nuclear reactors and reports of on-again, off-again fires can investors endure before they tune out?

What's going to happen to uranium stocks?

The balloon in uranium stocks has suddenly been popped by the imminent threat of a nuclear reactor meltdown in Japan. Jonathan Ratner from The Financial Post looks at what could happen next for uranium stocks.

Bearish nuclear picture clouds Olympic Dam expansion

BHP's $30-billion expansion of its Olympic Dam copper, uranium and gold mine could be in doubt as a result of the nuclear emergency unfolding in Japan, Barry Fitzgerald writes in The Sydney Morning Herald. With uranium stocks plunging over the last two days, BHP will have to factor in the outlook for a stable uranium outlook when determining the future of the project, which is the world's largest uranium deposit.

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.

Uranium stocks take a thrashing

While the jury remains out on exactly what went wrong at certain tsunami-and earthquake-impacted nuclear power reactors in Japan, investors took decisive action on Monday, selling down listed uranium stocks by up to a third. Smaller stocks were especially punished. During Australian trade, Pitchstone Exploration was sold down by 32% on the day. The world's biggest listed uranium producer, Canada's Cameco, fell 12.7% to close at $31.70.

Fukushima crisis creates big fallout in Australian uranium stocks

Australian uranium counters took a substantial hit on Monday in the wake of the crisis at the Fukushima nuclear power plant in Japan.

Worries about Japan's nuclear reactor are overblown

Media coverage of the Japanese nuclear power plant that suffered damage after Friday's earthquake is overblown, according to Dr. Josef Oehmen, a research scientist at MIT. His thoughts were summarized in a blog post that is […]

Western Lithium completes purchase of royalties and mineral property titles from Western Uranium

Western Lithium USA Corporation (WLC) and Western Uranium Corporation (WUC) said Friday that they have completed the previously announced transaction for the sale, by WUC to WLC, of the royalties and titles constituting substantially all […]

Denison gets permits to re-open 3 uranium mines near Grand Canyon

Denison Mines Corp. has secured permits needed to reopen three uranium mines near the Grand Canyon, CB Online is reporting. The Toronto-based company already operates one uranium mine on federal land north of the iconic park. The company processes the ore extracted from the mine at a mill in Blanding, Utah.

Uranium sector could be in for a 'cruel blow' after disaster in Japan

The Fukushima Daiichi Nuclear Power Plant has been in the news after the earthquake in Japan cut off the plant's cooling system. Robin Bromby, writing for The Australian, says that all the sensational news could […]