Supply cuts a ‘step change’ for uranium price 

The announcement made by uranium giant Cameco in November  that it’s suspending operations at its flagship McArthur River mine in northern Saskatchewan and surprisingly deep three-year cuts by Kazakhstan’s state-owned Kazatomprom  provide a “step change” for uranium prices says a new report on the sector from Cantor Fitzgerald equity research. On Monday, the world largest producer …

Boss consolidates Honeymoon uranium project ownership

JOHANNESBURG (miningweekly.com) – ASX-listed Boss Resources has entered into a binding conditional agreement to buy Wattle Mining – the owner of 20% of the shares in the Honeymoon uranium project – in a move that will give the company full ownership of the South Australian project. Consolidating the ownership sets the Honeymoon project on the path to be Australia’s next uranium producer, with production of about …

Kazakhstan to meet commitment of reducing uranium production in 2017

Kazakhstan’s total output of uranium or so called ‘yellow cake’ for the year will amount to 22,000 tons, Energy Minister Kanat Bozumbayev said. Kazakhstan, which is the world’s first largest producer of uranium and second in its reserves, will reduce production in 2017 to 22,000 tons, compared with 24,000 tons in 2016. “Production of uranium …

GoviEx receives expressions of interest from project lenders for Niger uranium project

JOHANNESBURG  – TSX-V-listed GoviEx Uranium has received expressions of interest from export credit agencies and project finance banks to arrange $220-million of senior debt financing for the construction of the Madaouela uranium project, in Niger. This followed the earlier appointment of Medea Capital Partners as project debt adviser and is in line with the Africa-focused exploration and development company’s four-step strategy to …

India, Japan civil nuclear deal comes into force

Tie-up to ensure energy security and clean power The landmark India-Japan civil nuclear agreement came into force on Thursday. Foreign Secretary S. Jaishankar exchanged the diplomatic notes with the Japanese envoy to India to formalise the completion of the process. “The India-Japan Agreement for Cooperation in the Peaceful Uses of Nuclear Energy entered into force …

US Vogtle 2 to load chromia fuel from Areva NP

Advanced fuel assemblies featuring chromia-doped fuel pellets and chromium-coated fuel cladding are to be loaded into a US nuclear power reactor. The fuel, developed by Areva NP under the US Department of Energy’s (DOE) Enhanced Accident Tolerant Fuel (EATF) program, will be loaded into the Vogtle 2 plant in Georgia.Vogtle units 1 and 2 (Image: …

Uranium One applies to suspend Mkuju River project

Uranium One subsidiary Mantra Tanzania has applied to suspend the Mkuju River project in Tanzania due to depressed uranium prices, the company has confirmed. Uranium One, an international mining company of Russian state nuclear energy corporation Rosatom, said its subsidiary Mantra Tanzania had applied to suspend the project in December last year after “proper negotiations and consultations” …