Uranium Top Stories

Uranium One targets 10% of lithium market by 2030

The unit of Russia's state-owned nuclear energy firm Rosatom, plans…

Nano-diamond battery that lasts for 28,000 years closer to becoming commercial product

US startup NDB announced that the proof of concept of…

Latest Stories

Nigeria: Mining Sector to Generate Two Million Direct Jobs

Stakeholders in the mining sector said they are targeting to create about two million direct jobs for Nigerians from the sector. Under the Progressive Miners Empowerment Association (PMEA), the miners said if about N200 billion is injected into the sector, it would be revived.

Namibia abandons draconian mine tax plans

A day after news of an onerous new mining royalty and taxation regime in Peru, Namibia, the world’s biggest miner of offshore diamonds and a top four uranium producer, drops plans for a huge jump in the corporate tax rate for miners and mineral export levies. Deputy Finance Minister Calle Schlettwein said on Wednesday, the country has withdrawn a proposal to increase the tax on non-diamond miners to 44% from 37.5% and will instead propose a windfall tax when international prices for the commodities are high. Namibia was one of 25 countries around the world that recently announced their intentions to increase their take of the mining industry’s profits or impose ownership and other restrictions.

$5 billion Ohio uranium plant looks less and less likely

The deadline for a crucial federal loan guarantee backing a proposed uranium plant in southern Ohio came and went Monday leading some to wonder if the project will ever get shovels in the ground, the Dayton Daily News reports. For the second time in three months, investors in a $5 billion uranium centrifuge project in Pike County have said they will give the federal government more time to offer a $2 billion loan guarantee. Ohio officials first unveiled plans for the plant in 2009, promising 4,000 jobs for an area with the worst unemployment in the US state.

China’s nuclear ambition powers on

In the wake of the Fukushima meltdowns, some nations are looking to move away from nuclear power. But not China, which is proceeding with plans to build 36 reactors over the next decade. As a result of such climate change concerns, as well as the need for more power in developing nations, more than 60 reactors are under construction around the world today in countries like India, Russia and South Korea. Even the US is currently building one new reactor — the second unit at Watts Bar in Tennessee.

Mega Uranium Ltd. releases unaudited results for the three and nine months ended June 30, 2011

Mega Uranium today announces its unaudited results for the three and nine months ended June 30, 2011. As at June 30, 2011, Mega had cash, cash equivalents and marketable securities totaling $31.1 million, as compared to $49.9 million at the end of September 30, 2010, a decrease of 38%. The decrease is primarily attributable to the Lake Maitland feasibility costs and other exploration expenditures incurred during the current period. As at June 30, 2011, the Company had mineral properties and related expenditures of $265.9 million, as compared to $251.7 million as at September 30, 2010. The increase reflects expenditures on our mineral properties of $18.9 million, offset by write offs of mineral properties of $4.6 million.

First Uranium Corporation – Fatality at the Ezulwini mine

First Uranium announced that on August 11, 2011 a fatality occurred at the Ezulwini mine. An internal investigation is underway to determine the cause of the incident. A day of mourning started on Thursday evening night shift in sympathy of the deceased. The Department of Mineral Resource's review and investigation is also in progress.