Putin’s uranium ban threat would deprive Russia’s war machine of billions

Vladimir Putin’s threat to curb exports of nuclear fuel risks igniting a global supply crunch that could also cut off billions of dollars to the Russian war machine, experts have warned. The Russian president on Wednesday suggested the Kremlin should consider halting supplies of uranium, nickel and titanium to the West in retaliation for sanctions imposed over …

Putin’s commodities ban threat puzzles Russian firms and officials

 Russian officials and managers are perplexed by President Vladimir Putin’s surprise threat to limit exports of strategic commodities in response to Western sanctions, and wonder if it can be realised without hurting Russia more than the West. Putin made the suggestion 23 minutes into a routine government meeting on Wednesday, asking Prime Minister Mikhail Mishustin to come …

Putin Asks Government to Consider a Cap on Nickel, Uranium Exports

Russian President Vladimir Putin asked the government to consider if it makes sense to limit exports of some commodities like nickel, titanium and uranium in retaliation for western sanctions. “Russia is the leader in strategic raw materials reserves like uranium, titanium, nickel,” Putin said during the meeting with the government, shown on TV. Since western …

France’s Orano selects Tennessee site to build uranium enrichment plant

France’s state-owned nuclear fuel company Orano has selected Oak Ridge, Tennessee as a preferred site to build a multi-billion dollar U.S. uranium enrichment plant, Tennessee and Orano officials said on Wednesday. The move comes months after the administration of President Joe Biden signed legislation meant to eventually end dependence on Russia, the world’s top supplier …

This perfect storm could see uranium prices bounce back to the year’s highs above $100 a pound

Next year could see a tight global uranium-supply market get even tighter The world’s largest uranium producer slashed its 2025 production plans last week, marking what one analyst referred to as the “most meaningful change” to supply announced this year. That threatens to trigger even tighter supplies for nuclear fuel in the months to come …

Kazatomprom lowers 2025 uranium production expectations

Kazatomprom has cut its uranium production guidance for 2025 by 5000 tU, citing uncertainties in sulphuric acid supply – but 2025 production is still expected to be higher than 2024. Announcing its half-year financial results today, the national atomic company’s CEO Meirzhan Yussupov said the company had demonstrated “robust financial results” for the six months …

Uranium concentrate production increased by 11% in 2023

This year, Navoiyuran plans to invest $145 million in eight projects. According to the results of last year, the production of uranium concentrate in Uzbekistan increased by 11%. This is stated in the annual report of the Ministry of Geology on the mining industry for 2023. Last year, Navoiyuran’s production amounted to 6.7 trillion soums ($600 million). The share …

US regulators approve NAC’s highly shielded transport system

The company’s OPTIMUS-H system is now approved under the US Nuclear Regulatory Commission (NRC) 10 CFR Part 71 regulation with a certificate of compliance effective from 5 August. It has already been approved under Canadian Nuclear Safety Commission (CNSC) certification CNSC Certificate Number CDN/2098/B(U)F-96 and associated Validation Certificate Number AUS/2021-94/B(U)F in Australia. NAC’s OPTIMUS – …

Federal Court stays decision on ERA’s Jabiluka lease

The Federal Court of Australia has made an interim order to stay the decision to refuse the renewal of Energy Resources of Australia’s (ASX:ERA) Jabiluka Uranium Mine mineral lease in the Northern Territory. This news follows on from Energy Resources of Australia pursuing legal proceedings in relation to the decision not to renew Jabiluka’s mineral lease. On …

Domestic uranium market will grow between 2023 and 2024

Uranium miners in the United States produced more than 82,000 pounds of uranium concentrate in the first quarter of 2024, more than in all of 2023. Domestic uranium mines produced 50,000 pounds of triuranium octoxide (U3O8), also called uranium concentrate, in 2023, a significant decrease from the 194,000 pounds produced in 2022. Production declined in …