VANCOUVER (miningweekly.com) – Canadian uranium major Cameco is settling in to a more relaxed pace of business as it rides out the uranium price doldrums, with two of its best assets languishing on care and maintenance. President and CEO Tim Gitzel noted on Friday that “unprecedented noise in the political economy” are yet to translate …
WASHINGTON, D.C. – U.S. Energy Secretary Rick Perry and François Jacq, Chairman of France’s Alternative Energies and Atomic Energy Commission (CEA), seized the occasion of President Trump’s Head-of-State welcome for French President Emmanuel Macron to sign two Statements of Intent (SOIs). The signing ushers in a new era of DOE-CEA research and development (R&D) cooperation …
Andrea Jennetta , Contributor Financial carry trade uranium deals still offer the cheapest supply source for nuclear utilities in 2019-2022. Paladin CEO Alexander Molyneux said last week that such contracts “remain the most competitive source of supply” for uranium fuel buyers, despite indications from the U.S. Federal Reserve that interest rates will rise four times this year for …
Nuclear power generation in France declined by 4.1 GW on Thursday as supply at multiple power stations along with two coal-fired units were slashed due to the start of a strike, grid operator RTE and plant operator EDF said. More than 4 GW of nuclear capacity unavailable Capacity at two Cordemais coal units at zero …
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 …
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 …