Kazakhstan-based Kazatomprom is mobilising employees and expects to have its sites back to normal staff levels within two to three weeks. The world’s largest uranium producer said on Monday it believed it could safely begin to bring staff back to its mine sites, after a four-month Covid-19-related shutdown. Production in the second half of the …
CNNC Rössing Uranium has been a feature of the Namibian economy for close to 44 years and has made significant contributions to the development of Namibia. I am confident that Rössing will continue to be a major supplier of energy to the world, as well as delivering value to shareholders and other stakeholders, for a …
Britain’s fraying relationship with China has the potential to undo a decade of mixed efforts to keep nuclear power flowing as an aging generation of plants drop out of service. Once the heart of the U.K.’s energy plans, nuclear has been sidelined by spiraling costs and cheaper renewables. It also finds itself at the center …
Problems in the power sector have seen Scotland’s greenhouse gas emissions rise and the 2018 target being missed. Scottish government figures show source emissions increased by 1.5% largely because of the long-term shutdown at Hunterston nuclear power station. It led to more electricity being generated at the gas-fired Peterhead power station, where emissions doubled. A Scottish …
US domestic production of uranium concentrate plunged 89% to 174,000 pounds of U3O8 (triuranium octoxide) last year, according to the latest annual report published by the US Energy Information Administration (EIA). This also represents a steep decline compared to the 4.89 million pounds the US produced five years earlier. The production of uranium concentrate is …
See how COVID-19 has crippled uranium production and seriously eroded the 2020 Uranium Cost Curve, moving us closer to the market’s long awaited tipping point. Click here to view it. Source: Purepoint Uranium Group Inc.
Uranium has outperformed major commodities this year, even as the energy sector has suffered from a drop in petroleum demand tied to the coronavirus pandemic. The crisis was a “black swan event” that pushed supply-demand fundamentals into a “structural shortfall,” says Scott Melbye, executive vice president at Uranium Energy Corp. “Substantial global uranium mine disruptions” …
Uranium futures is one of the few contracts that has experienced price gains in recent weeks, as the economic impact of COVID-19 continues to weigh heavily on prices for most commodities. Front-month uranium futures settlement prices have traded up to $32.50/pound in late April, compared with around $24/pound in early March, when most of the world’s advanced …
Production figures issued by Cameco and Kazatomprom for the first quarter of 2020 show a slight decrease on the same period last year, while those announced by the US Energy Information Administration (EIA) show an 86% year-on-year fall from US facilities. This follows a year when US uranium production was the lowest on record. Kazatomprom …
“This is a bit of a one-two punch in uranium’s favor,” said Nick Piquard, a portfolio manager at Horizons ETFs. “Not only has Covid-19 likely not impacted nuclear power demand very much, but it is certainly impacting supply.” While demand for energy, including nuclear, is taking a hit due to the pandemic, many atomic power …