The price of uranium, the radioactive material used to fuel nuclear power stations, has entered a bull market following another big hit to supply. On Tuesday, Kazakh miner Kazatomprom slashed its 2020 production forecast by up to 10.4m pounds, equivalent to 8 per cent of global supply, because of government-imposed measures to mitigate the spread …
Canada’s Cameco (TSX:CCO) (NYSE:CCJ), the world’s largest publicly traded uranium miner, is placing its plant at the Port Hope conversion facility, in Ontario, in a temporary safe shutdown state for four weeks. The move comes as the company faces the increasing challenge of maintaining an adequate workforce as a result of screening protocols and other measures put …
JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”) announces the following update related to the impact of the COVID-19 outbreak on the Company’s business. “As the impact of COVID-19 continues to be felt around the world, Kazakhstan has taken strong steps to slow the spread of the virus,” said Galymzhan Pirmatov, chief executive officer …
To swap out the spent uranium rods, hundreds of technicians from around the country must work in close quarters for weeks. That’s a challenge during a quarantine. EACH SPRING, NEARLY 1,000 highly specialized technicians from around the US descend on the Palo Verde Nuclear Generating Station near Phoenix, Arizona, to refuel one of the plant’s three nuclear …
Last month, TerraPower’s President and CEO Chris Levesque testified before the House Energy and Commerce Committee about what the country and the world must do to transition to a clean energy economy. As an American company, TerraPower has a duty to innovate in clean energy, a duty that has been reinforced in these trying times. …
Canada’s Cameco this week announced it was shuttering Cigar Lake, the world’s largest uranium mine, for at least four weeks after directives from the Canadian and Saskatchewan provincial governments. The Canadians are concerned about the use of fly-in, fly-out workers while COVID-19 is spreading. Meanwhile, Namibia, a key supplier of uranium to China’s nuclear fleet, …
Russia’s Ministry for Economic Development last week published a draft strategy for low-carbon development to 2050. The strategy’s basic scenario would see nuclear output grow from 203 TWh in 2017 to 225 TWh in 2030 and 260 TWh in 2050. The ministry said the strategy, which is open to comments until 10 April, is aimed at …
The collapse in economic activity from the coronavirus pandemic has hit the price of most industrial metals and minerals, but uranium is bucking the trend. The price of the radioactive material, used in nuclear power stations to generate electricity, has risen 14 per cent in the past two weeks to $27 per pound, breaking out of …
Namibia halted mining and quarrying operations to curb the spread of the Covid-19 outbreak, according to Minister of Mines and Energy Tom Alweendo. The semi-arid southwest African nation is the world’s top producer of marine diamonds and the fifth-biggest of uranium. While minimal operations and critical maintenance work will be allowed, employers should ensure that …
With world economies dramatically impacted by the COVID-19 virus nuclear operators considering their options. United States In the USA, Maria Korsnick, president of the Nuclear Energy Institute told the New York Times that some operating reactors are “considering measures to isolate a core group to run the plant, stockpiling ready-to-eat meals and disposable tableware, laundry …
