Uzbekistan’s Ministry of Energy has published a detailed ‘Concept Note’ outlining its strategy on electrical generation to the year 2030. The document anticipates a sharp reduction in the country’s reliance on gas-fired power generation from the current 83% to 50%, and sets goals for new nuclear, solar and wind power production of 15%, 8% and …
The Egyptian nuclear project is underway, despite the restrictions imposed by the outbreak of the novel coronavirus and the Egyptian authorities’ decision to postpone the opening of major projects, including the new capital. In remarks to Asharq Al-Awsat, Grigory Sosnin, the director of the Dabaa nuclear project, said that the company “has taken a set …
Uranium is having a moment in 2020, climbing a third in six weeks while much of the commodities universe melts down. Years of poor economics and weak investment, combined with the impact of pandemic-related mine closures, are adding up to a supply squeeze, despite demand softened by industrial lockdowns. There will be no swift return to lofty levels last seen over a decade ago, but …
Purepoint Uranium Group Inc. (TSXV: PTU) (“Purepoint” or the “Company”) today provided an update of this winter’s exploration program at the Hook Lake Project, a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%) in the Patterson Uranium District, Saskatchewan, Canada. The Hook Lake Project lies on the southwestern edge of …
Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (“Energy Fuels”), the leading producer of uranium in the United States, is pleased to announce that it has entered into an agreement to acquire from GeoInstruments Logging LLC (“GIL”) all of its Prompt Fission Neutron (“PFN”) technology and equipment, including all of its related intellectual property, which will …
IsoEnergy Ltd. (“IsoEnergy” or the “Company”) (TSXV: ISO; OTCQX: ISENF) is pleased to announce the acquisition of over 46,000ha of new uranium exploration claims divided amongst four properties in the prolific Eastern Athabasca Basin of Saskatchewan (Figure 1). The highlight is the 31,800ha Evergreen property located along the southeast rim of the Athabasca Basin, just …
Uranium futures is one of the few contracts that has experienced price gains in recent weeks, as the economic impact of COVID-19 continues to weigh heavily on prices for most commodities. Front-month uranium futures settlement prices have traded up to $32.50/pound in late April, compared with around $24/pound in early March, when most of the world’s advanced …
Kazatomprom tips uranium deficitGlobal uranium leader, Kazakhstan’s Kazatomprom, says it will maintain mine-site restrictions to stem the spread of COVID-19 for at least another three months, which could contribute to a 10% uranium market deficit 2020. Uranium spot prices have recently crossed into US$30/lb territory as production cuts are deepened by COVID-19 restrictions. The market …
Production figures issued by Cameco and Kazatomprom for the first quarter of 2020 show a slight decrease on the same period last year, while those announced by the US Energy Information Administration (EIA) show an 86% year-on-year fall from US facilities. This follows a year when US uranium production was the lowest on record. Kazatomprom …
Support for the development of next-generation technologies and advanced fuels outlined in the report of the US Nuclear Fuel Working Group (NFWG), published last week, will enable the country to remain competitive in this area, the Nuclear Energy Institute has said. Meanwhile, fuel cycle company Centrus said immediate action to restore the viability of the …
