The coronavirus crisis is causing the biggest fall in global energy investment in history. Before the pandemic, funding was set to rise 2%, but now it’s predicted to plunge 20%, says the International Energy Agency (IEA). Fossil fuels are hit hardest, with a 30% funding drop expected for oil and a 15% fall for coal. …
Uranium is one of the few commodities that has witnessed a notable price increase amid the outbreak of novel coronavirus. While the recent pandemic weighed heavily on demand and prices of most energy products plus industrial metals like copper and steel, uranium’s use as a key power generation fuel has kept its consumption stable. The …
Uranium market shift is underway with recent price correction representing the first indication that we are reaching the tipping point. View a 3-minute video here. About Purepoint Purepoint Uranium Group Inc. is focused on the precision exploration of its nine projects in the Canadian Athabasca Basin, the world’s richest uranium region. Established in the Athabasca Basin …
According to a report released by the US Energy Information Agency last week, US uranium production in 2019 totalled 170,000lbs U3O8, down -76% on 2018. Total shipments of uranium concentrate from US producers were 190,000lbs in 2019, -87% less than in 2018. The EIA noted that total employment in the US uranium production industry was …
In the uranium market, there are three large western converters where most trading and physical delivery of material take place: Cameco’s Port Hope (“CMC”) in Canada, ConverDyn’s Metropolis (“CVD”) in the United States and Orano’s Comurhex (“CHX”) in France. Historically, uranium for delivery at each location was priced relatively tightly (say $0.10 – $0.50) with …
Plant Vogtle in Georgia installs more Westinghouse reactors while Oregon-based NuScale awaits final approval of its small modular reactor design There are 53 nuclear reactors currently under construction around the world. Only two are in the United States, once the world’s leader in nuclear energy development. And those two reactors represent expansions of a preexisting …
Work on Units 2-4 was briefly halted after pandemic but have now resumed said FANR. Abu Dhabi: Construction at the Barakah Nuclear Plant continues to remain on track according to the Federal Authority for Nuclear Regulation (FANR), with the COVID-19 pandemic causing no major disruptions to the site. “The construction of Units 2-4 were halted …
Although a series of mega projects have been postponed in Egypt due to the coronavirus outbreak, work on the country’s first nuclear power plant continues. Amid the coronavirus pandemic that has delayed mega projects scheduled for this year in Egypt, such as the New Administrative Capital and the Grand Egyptian Museum, work on Egypt’s first nuclear project continues around the clock. “The work is …
Uranium futures are 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 traded up to $32.50/pound in late April, compared with around $24/pound in early March, when most of the world’s advanced economies …
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 …
