Uranium Top Stories

Energy metals snapshot: Eight companies advancing assets for a greener future

Amid efforts to move the world away from fossil fuels,…

USNC-Power to develop Canada’s first small modular reactor

Following the federal government’s release of the country’s Small Modular…

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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.

Paladin Energy Ltd.- Langer Heinrich Mine, Namibia US$141M project finance facility drawdown

PERTH, WESTERN AUSTRALIA--(Marketwire - Sept. 12, 2011) - Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN) (ASX:PDN)wishes to note that the Company's Board of Directors advise that financial close has been reached under the Langer Heinrich Project Finance Facility ("Facility"), and Paladin has submitted a drawdown notice for US$127.2M.

Uranium market will right itself by year’s end: Resource Capital Research

Resource Capital Research, which posted its September Quarter RCR Uranium Sector Review, says that buying opportunities will emerge in the uranium sector in the fourth quarter of 2011 and early 2012. "Despite the ongoing short term market impacts from Fukushima, the long term uranium market fundamentals are considered sound with expected strong and increasing demand for new nuclear power reactors, especially from China, USA, Russia, Ukraine and India," writes the reports authors. Resource Capital Research notes that 84 new nuclear power reactors are expected to be commissioned globally by 2017, and currently almost 500 plants are being considered.

East Asia Minerals provides Mongolia uranium program update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - East Asia Minerals Corporation (TSX VENTURE:EAS) wishes to report on the progress of its 2011 summer drilling campaign at its wholly-owned uranium projects located in Mongolia. The drilling campaign was launched in August with the objectives of (a) meeting annual expenditure requirements to keep the projects in good standing; (b) test previously identified targets at the Enger and Ingenii-Nars projects; and (c) initiate early stage exploration at the Ulaan Nuur, Sevsuul Bulag, Bukht Uul and Unegt prospects.

Sea of red for uranium sector as price drops to Fukushima lows

With the spot price for uranium falling below $50 – levels last seen immediately after the nuclear accident at Fukushima – U3O8 producers and explorers dropped across the board on Tuesday. Not even Hathor Exploration, the subject of a hostile takeover by industry bellwether Cameco, managed to get into in positive territory and the sector as a whole has lost more than 40% its value since the 11 March earthquake off the coast of Japan. And the near term outlook for the sector is not rosy either with a new study by Resource Capital Research indicating market price expectations looking out 3 to 6 months points to further downside, with a spot price expectation of $45.95/lb.

Commodities rocked as US economy creates zero jobs

Commodity markets were hit this week by shock news that the United States created no jobs in August, sparking speculation that the world's biggest economy could be heading for a double-dip recession. Analysts said the data bolstered expectations that the US Federal Reserve could soon decide to implement another round of quantitative easing -- dubbed QE3 by traders -- to help breathe new life into the struggling economy.

Alec Baldwin is no fan of nuclear power

Actor and possible New York mayoralty candidate is no fan of nuclear power. In an interview with the Huffington Post on Friday, he said nuclear power is a dirty source of fuel. "Nuclear reators are filthy, contaminating processes. The biggest problem in the anti-nuclear movement is the big lie, the constant metronomic assertion of the nuclear industry that it is 'clean power'," says Baldwin in the interview. New York state, where Baldwin lives, has six nuclear power plants which provide 30% of the state's electricity needs.

Crossland plans initial rare earth resource report for Charely Creek

Crossland Uranium Mines (ASX:CUX) plans to issue a report next month on an illuvial heavy mineral rare earth element resource at its 50% owned Charley Creek project in Northern Territory. A 16.7 tonne quantity of alluvial material has been obtained from the Cockroach prospect for testwork to investigate a heavy mineral process flowsheet and to generate samples of heavy mineral product for initial marketing and additional process development tests. Crossland says that the Charley Creek alluvials should be low cost sources of heavy mineral concentrates with high concentrations of REE and/or zircon.

Cameco inks agreement with Kazatomprom to increase uranium production at Inkai by 1.3 million pounds

Cameco (NYSE:CCJ) announced on Wednesday that it signed signed a memorandum of agreement with its partner, Kazatomprom, to increase annual uranium production at the Joint Venture Inkai Limited Liability Partnership (JVI) from 3.9 million pounds to 5.2 million pounds. The Inkai in-situ recovery uranium mine and processing plant is located in central Kazakhstan and is operated by JVI, 60% owned by Cameco and 40% owned by Kazatomprom, the Kazakhstan government owned national atomic company. Under the memorandum of agreement, Cameco's share of Inkai's annual production will be 2.9 million pounds with the processing plant at full capacity.