NIAMEY, Oct 11 (Reuters) – French uranium mining and nuclear fuel group Areva NewCo’s two uranium mines in Niger will cut staff and output in the face of falling uranium prices, a local union leader said on Wednesday. The state-owned company runs the open-cut Somair mine outside the northern, desert town of Arlit and the …
Uzbekistan signed a contract on supply of uranium to the United States. The contract is designed for 7 years and its cost exceeds $300 million. “It is a long-term contract. This is very important and significant. The total value of the contract exceeds $300 million,” said Elyor Ganiev the Minister of Foreign Trade of Uzbekistan, …
Energy Fuels, a leading US producer of uranium, expects to be the country’s top producer at about 650,000 lb in 2017 and could triple its annual output if prices rose from the current $20/lb, a company official said Monday. In comments webcast on the company’s website Monday afternoon, Curtis Moore, vice president of markets and …
Nuclear power is gaining popularity as the world tries to meet increased demand for electricityfrom non-carbon sources. Nuclear power is a result of heat generated through the fission process of atoms. The most common fuel used in conventional nuclear fission power stations is uranium, a silvery-white radioactive metal in the actinide series of the periodic …
Perth – Uranium developer Bannerman Resources is optimistic about the future of the uranium price, with CEO Brandon Munro telling delegates at the fifteenth yearly Africa Downunder conference, in Perth, that the current decade-low prices are unsustainable. “The uranium spot price is languishing at a decade low price of $20/lb,” Munro said on Thursday. “While all commodity markets are cyclical, and it …
Uranium ore samples collected by ASX-listed Marenica Energy from the Langer Heinrich uranium mine in Namibia have been received in Perth for immediate test work. Namibia – The aim of the test work is to confirm the substantial benefits expected from implementation of Marenica’s proprietary U-pgrade process on the ore. In June, Marenica Energy and Paladin Energy agreed to conduct …
Namibia’s current account deficit will narrow substantially through to 2020. The trade deficit will shrink significantly as the completion of the Husab uranium mine and several construction projects will simultaneously boost mineral exports and decrease demand for imports linked to construction. At the same time, Southern African Customs Union (SACU) receipts will broadly hold up, …
The Sultanate of Oman is to become a long-term strategic investor in Berkeley Energia through an investment agreement worth up to $120 million. The investment means that the Salamanca uranium project in western Spain is now fully funded and can proceed to production. The agreement with the State General Reserve Fund (SGRF) – the sovereign …
On a recent morning, the Nichols Ranch mine was quietly leaching uranium from rock formations buried hundreds of feet beneath the surface of the Powder River Basin. A handful of employees slept in a trailer outside the plant after their 12-hour shifts as mine manager Bernard Bonifas pulled up at the main office to …
PARIS (Reuters) – The French state has fully subscribed to a 2.5 billion euro ($2.92 billion) capital increase of nuclear fuel group Areva NewCo, completing one of the last stages of a complex state-funded restructuring of the company, Areva said on Thursday. Areva (AREVA.PA) said that the 500 million euros that Japanese companies Mitsubishi Heavy …