Barrons – News of the shutdown of the world’s largest uranium mine has rallied prices for the heavy metal, and could help revive a market that has suffered ever since Japan’s Fukushima nuclear disaster nearly seven years ago. Cameco (ticker: CCJ), which provides roughly 17% of the world’s uranium production, announced on Nov. 8 that …
Purepoint Uranium Group Inc. announced today that the proposed 2018 Hook Lake JV exploration program with a budgeted cost of $4,000,000 has been approved by the JV partners. Situated within the Patterson Uranium District, the Hook Lake JV is a project owned jointly by Cameco Corp. (39.5%), AREVA Resources Canada Inc. (39.5%) and Purepoint Uranium …
The Southern High Plains region of Texas, New Mexico, and Oklahoma may hold more uranium than previously thought, a new study published Tuesday shows, but prices for the radioactive commodity would need to move much higher before any new mining takes place in the area. According to the latest report by the US Geological Survey (USGS) there …
The patience of Cameco Corp. shareholders is being testing yet again, as the Saskatchewan-based uranium producer’s latest round of quarterly earnings fell short of expectations, the company cut its dividend, and now it has decided to temporarily suspend work at two operations. The news sent Cameo shares higher, as the production cut is expected to …
EXCLUSIVE TO SIGHTLINE U3O8 – Since 2007, Kazakhstan has raced to become the world’s largest producer of uranium. With the second highest amount of known recoverable uranium resources and one of the lowest production costs in the industry, Kazakhstan has positioned itself perfectly to dominate the uranium market. So, what have they done with those …
The Trump administration is targeting for review a uranium mining ban that former President Barack Obama instituted in the watershed of the Grand Canyon. The Forest Service, which owns some of the more than 1 million acres of land subject to the uranium ban in Arizona, put the withdrawal on a list of policies released Wednesday that it says inhibit …
Johannesburg – A bleak market outlook most likely forced Karoo Uranium mining hopefuls Peninsula Energy Ltd to withdraw from South Africa. According to Dr Stefan Cramer, SA Faith Communities’ Environment Institute (Safcei) Science Advisor, the same poor outlook will also keep potential buyers from mining the Karoo for uranium. Peninsula announced last week Wednesday that …
If you’ve been following the news, you may think uranium is only used in nuclear bombs and nuclear power plants. But uranium has lots of other uses. Unfortunately, the Fukushima nuclear reactor meltdown in Japan and North Korea’s (and Iran’s) continued push for nuclear weapons show the volatile and dangerous nature of this vital element. What’s …
Small but very critical item in the uranium space this week. Suggesting that the world’s largest producing nation may be about to take drastic action in propping up faltering prices. That’s Kazakhstan — the world’s reigning champ for uranium output the last several years. Where officials said they may move to further cut production in …
Kazakhstan’s energy minister Kanat Bozumbayev announced Wednesday that the country will supply uranium to five nuclear power plants in China beginning in 2019. “We are working with our Chinese partners on uranium conversion,” Bozumbayev told media representatives at the 18th Asian Nuclear Cooperation Forum held in Kazakhstan’s capital city Astana. China is on schedule to …