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 …
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 …
The King Abdullah Petroleum Studies and Research Center (KAPSARC) published a new commentary that explores the Saudi nuclear energy project. The paper said that establishing a nuclear sector in Saudi Arabia would lead to lower unemployment, increase average wages, and help the Kingdom in meeting its desalination needs. “Nuclear desalination makes sense for Saudi Arabia, …
Construction is to be resumed of the prototype CAREM-25 reactor and a used fuel dry storage facility, as well as the refurbishment of the Atucha 1 nuclear power plant, Nucleoeléctrica Argentina SA (NA-SA) announced. Energy Minister Sergio Lanziani said the projects – work on which was suspended last year “due to breaches by contractor companies” …
The uranium price has been quietly creeping up to hit a four-year high. Dominic Frisby explains what’s behind the rise, and picks the best way to invest. Stocks have crashed then rallied. People are falling over each other to buy government bonds. Gold is at seven-year highs. Oil has capitulated. Industrial metals are rebounding. Oh, …
China National Nuclear Corporation (CNNC) announced that installation of all reactor internals at unit 3 of the Karachi nuclear power plant in Pakistan had been completed on 4 April. Experts said the development was a key milestone in the progress of the project. During the process of assembling and adapting to the pressure vessel, all …
Belarus Energy Minister Viktar Karankevich told TV channel ONT on 11 April that the Belarus nuclear power plant under construction at Ostrovets will be launched during the summer and start producing electricity in the autumn. The Ostrovets nuclear plant, being build by Russian state nuclear corporation Rosatom will have two generation 3+ VVER-1200 reactor units. …
The price of uranium, the radioactive material used to fuel nuclear power stations, has entered a bull market following another big hit to supply. On Tuesday, Kazakh miner Kazatomprom slashed its 2020 production forecast by up to 10.4m pounds, equivalent to 8 per cent of global supply, because of government-imposed measures to mitigate the spread …
Russian state nuclear corporation Rosatom continues building nuclear power plants in coronavirus-hit countries, Rosatom Director General Alexey Likhachev said on Thursday. “Despite the difficulties with epidemiological situation in certain countries, where Rosatom is building NPPs, projects implementation continues,” Likhachev told reporters. “Of course, maximally tough measures are being implemented in these countries for ensuring safety …
Cameco Corp. [CCO-TSX; CCJ-NYSE] is temporarily suspending production at its Cigar Lake uranium mine in northern Saskatchewan. It said the move is a safety precaution that stems from the threat posed by the Coronavirus [COVID-19] pandemic. Cameco is one of the world’s leading uranium producers. Cigar Lake is the globe’s largest operating uranium mine and …
