SASKATOON, Sask. - A tribunal of international arbitrators ruled in favour of Cameco Corporation in the miner's contract dispute with Tokyo Electric Power Company Holdings, TEPCO.According to a corporate press release, the tribunal rejected TEPCO's assertion that it had the right to terminate its uranium supply agreement alleging force majeure, and awarded damages to Cameco of $40.3 million. Damag...Read More
Peninsula Energy Ltd (ASX:PEN) has confirmed that no public comments were submitted for the pre-decisional State Decision Document prepared by the Uranium Recovery Program (URP) within the Wyoming Department of Environmental Quality (WDEQ).BackgroundIn April 2019, the WDEQ URP completed its review of the low pH amendment request of Peninsula's Source Materials License (SML) for the Lance Projects...Read More
Weekly Reports |Jul 02 2019The uranium market is left hanging as Trump's 232 decision is again postponed and not yet rescheduled.-US section 232 decision postponed indefinitely-Uranium term prices rise-Rio Tinto's Rossing sale approvedBy Greg PeelPresident Trump was due to be briefed by US Department of Commerce officials on its recommendation regarding the section 232 petition two weeks ago but t...Read More
The global uranium mining market in the 2010s took a hit from the Fukushima nuclear disaster in Japan in 2011 - which cut global uranium demand some 10% for many years - and the simultaneous ramping up of low-cost uranium production out of Kazakhstan that has transformed the country into the world's largest uranium producer.Thanks to the massive devaluation of the Kazakhstan tenge currency in 2014...Read More
June 26, 2019NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESToronto, Canada (June 26, 2019) - Mega Uranium Ltd. (MGA: TSX) announces that it has sold its royalty on the Langer Heinrich uranium project in Namibia (the "Royalty") to Uranium Royalty Corp. ("URC") for $1,625,000, following the exercise by URC of its option on the Royalty. URC iss...Read More
NEVADA - Blackrock Gold announced that, together with its namesake U.S. subsidiary, it has entered into a purchase agreement for 20 mining claims directly adjacent to its Silver Cloud project in Elko County.Silver Cloud is a 4,537-hectare claim block located near the confluence of the Carlin Trend and the Northern Nevada Rift within the north-central part of the Silver State.In a press release,...Read More
Shares of Energy Fuels (TSX: EFR) and Ur-Energy (TSX: URE) moved higher on a report from Bloomberg that the U.S. Department of Commerce is recommending that Washington take measures to protect domestic uranium production.The June 20 article, quoting three anonymous sources briefed on the matter, said the commerce department believes that the U.S. reliance on uranium imports poses a national se...Read More
The Wheeler River camp where Denison is advancing the mine toward production as early as 2022. (Image: Denison Mines)SASKATCHEWAN - Toronto-based Denison Mines Corp. is testing in situ recovery at the Wheeler River uranium project this summer. The ISR tests will help determine the viability of using it for commercial production at Wheeler River, which would be the first uranium mine in Canada to...Read More
Location map of Purepoint's western Athabasca projects. (Image: Purepoint Uranium)SASKATCHEWAN - Toronto-based Purepoint Uranium Group is preparing for the restart of exploration at the Smart Lake joint venture in the southwest portion of the Athabasca Basin. This is a partnership of Purepoint (27%) and Cameco Corp. (73%)Purepoint has been active at the Hook Lake project and the Patterson Lake cor...Read More
Weekly Reports |Jun 25 2019Uranium markets were dead quiet last week in anticipation of a possible decision from President Trump regarding 232, but they will have to wait another week.-Trump briefing postponed-Spot price unchanged-The UK goes greenBy Greg PeelPresident Trump was due to meet with top advisors on Thursday to be briefed on the Department of Commerce recommendation regarding the petit...Read More
GoviEx Uranium (TSXV: GXU; US-OTC: GVXXF) received the permits needed to build its flagship Madaouela project in Niger three years ago, but lagging uranium prices have kept development in check.In the meantime, the Vancouver-based junior has been optimizing the project as part of a definitive feasibility study, talking with potential off-takers and financiers, and putting together a framework agr...Read More
Peninsula Energy Ltd (ASX:PEN) could benefit from President Trump's steps to protect domestic production of uranium following the US Department of Commerce's finding that the nation's reliance on imports was a national security risk.The company holds the largest defined uranium resource of any currently producing project in the US at its Lance Uranium Projects in Wyoming, US.Peninsula has a produc...Read More
Peninsula Energy Ltd (ASX:PEN) could benefit from President Trump's steps to protect domestic production of uranium following the US Department of Commerce's finding that the nation's reliance on imports was a national security risk.The company holds the largest defined uranium resource of any currently producing project in the US at its Lance Uranium Projects in Wyoming, US.Peninsula has a produc...Read More
Weekly Reports |Jun 18 2019New regulations in Japan may see the few reactors that have restarted to date temporarily forced to shut down again.-Tougher Japanese regulations-U3O8 spot price reacts-Global nuclear growth acceleratesBy Greg PeelIn "news you don't want to hear", if you are a uranium producer or investor, last week the Japanese Nuclear Regulation Authority approved new rules that may fo...Read More
Weekly Reports |Jun 12 2019The uranium spot price has posted its first weekly increase in almost two months.-Buyers Emerge-Uranium market remains fractured-Finland gets ambitiousBy Greg PeelAfter a long, steady decline in the spot uranium price in 2019 on section 232 uncertainty, buyers finally emerged from the woodwork last week in the form of both utilities and investors. While US utilities cont...Read More
While uranium oxide prices continue to drift in the doldrums, several uranium companies have still raised a bit of money to explore and carry out modest programs. Here is a look at eight uranium-focused companies that are active in 2019.ALX Uranium, Appia Energy, Azincourt, Denison, Global Atomic, Orano, Plateau Energy, and Zadar VenturesContinue reading at The Northern Miner. Read More
June 7 (UPI) -- Former New York City Mayor Michael Bloomberg on Friday will launch what he calls the largest ever coordinated campaign to beat climate change, which will close all U.S. coal plants by 2030.Bloomberg said the $500 million program, Beyond Carbon, will put the United States on track toward a 100 percent clean energy economy by working with advocates to "build on leadership and climate...Read More
Don't expect an upswing in the global uranium market anytime soon."In our models, we don't get excited on the demand side," said Galymzhan Pirmatov, chief executive officer of Kazatomprom, Kazakhstan's state-owned mining company that's the world's biggest supplier.Kazakhstan controls about 40% of the world's supply of the metal, and Kazatomprom accounts for half of that, making it the biggest prod...Read More
NEW YORK – Don’t expect an upswing in the global uranium market anytime soon.“In our models, we don’t get excited on the demand side,” said Galymzhan Pirmatov, CEO of Kazatomprom, Kazakhstan’s State-owned mining company that’s the world’s biggest supplier.AdvertisementWith construction of nuclear power plants at a ten-year low, uranium demand remains...Read More
The entire footprint of NexGen Energy's (TSX: NXE; NYSE-AM: NXE) proposed Arrow mine is smaller than a university campus, but could produce 21% of the world's uranium once in production, the company says.The high grade uranium deposit in Canada's Athabasca basin would produce 25.4 million lb. uranium oxide (U3O8) per year over an estimated mine life of nine years - leapfrogging the company into t...Read More