Under difficult uranium market conditions, this U.S. producer is capitalizing on a number of innovative opportunities. Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) President and CEO Mark Chalmers addressed the uranium market issues in a recent letter to shareholders, “Things are happening in global uranium markets, namely major production cuts, that we believe will rationalize this market …
Uranium has been mired in a protracted slump since 2011 and despite claims by some pundits that a rally is looming, its price continues to fall, leaving it down by 12% over the last year. This has had a deleterious impact on uranium miners, with many — including the world’s largest publicly traded uranium miner Cameco Corp. (TSX:CCO)(NYSE:CCJ) shuttering …
Annual report says Saskatoon-based company lost $205M in 2017; Cameco blames global oversupply. Cameco admits it’s a difficult time to be in the uranium-mining business, but the Saskatoon-based company hopes conditions will improve. In the company’s latest annual report, Cameco said its net losses amounted to $205 million in 2017. In 2016, the company lost …
The comment below comes from the Uranium Research Team at Cormark Securities Inc. Our house view is still that the major catalyst to drive a Uranium rally is the striking of a new LONG-TERM contract…….Cameco is determined to do its part to clean up the spot market (see below) but really the main objective is spooking the …
RAPID CITY, S.D. — Concern over whether a South Dakota site has historic, cultural and religious significance to Native Americans has further stalled a company’s plan to mine for uranium. The U.S. Nuclear Regulatory Commission issued a license in 2014 to Powertech, which has been pursuing a project to drill for uranium near Edgemont for …
Energy Secretary Rick Perry said Tuesday he will suspend the Energy Department’s practice of selling excess uranium for the rest of the fiscal year, after a key Republican blocked the nomination of an agency nominee. Senate Environment and Public Works Chairman John Barrasso has said the sales hurt the domestic uranium mining industry, particularly in …
Russia has opened its uranium mining industry to foreign investment with an agreement signed yesterday between the Russia-China Investment Fund for Regional Development (RCIF), ARMZ Uranium Holding, and Priargunsky Industrial Mining and Chemical Union (PIMCU). ARMZ and PIMCU are subsidiaries of Russian state nuclear corporation Rosatom. The three parties to the agreement will work on …
WASHINGTON (Reuters) – The U.S. mining industry asked the U.S. Supreme Court on Friday to overturn an Obama-era rule that prohibits the mining of uranium on public lands adjacent to the Grand Canyon National Park. The National Mining Association (NMA) and the American Exploration and Mining Association (AEMA) filed petitions asking the court to reverse …
MOSCOW (Reuters) – Russian state nuclear agency Rosatom said on Monday that Russia and China have agreed to work together on a uranium mining project in Russia, RIA news agency reported. Russia and China signed an agreement about investments in the project on Monday, RIA said. Source: Reuters
The Department of Atomic Energy (DAE) will achieve a ten-fold rise in uranium production in three phases by 2031-32, the government today informed the Lok Sabha. In a written response to a question in the Lower House, Jitendra Singh, the Union minister of state in the Prime Minister’s Office that directly looks after the DAE, …
