nuclear-news

Rio Tinto’s losses mean that Rossing uranium mining’s future is precarious

Rössing Uranium fights on for survival INFORMANTE  BY FLORIS STEENKAMP   12 JUNE 2013   Rio Tinto Rössing Uranium incurred an operational loss of N$474 million in 2012, some N$10 million more than the losses the mine made in 2011.  Despite this, the mine will continue to battle on and bolster cost savings and operational efficiency to ensure its long term survival.

This was the message of the outgoing managing director of Rio Tinto Rössing, Chris Salisbury, on 6 June Swakopmund.

Uranium mines globally continues to operate in adverse economic conditions…… Since Japan and many other nations started to shy away from nuclear power generation as the future of clean energy, uranium market prices plummeted by more than 36%.

Uranium mines globally continues to operate in adverse economic conditions…… Since Japan and many other nations started to shy away from nuclear power generation as the future of clean energy, uranium market prices plummeted by more than 36%.

At the Rössing mine not even a production output increase of 36% and drastic cost-saving measures could avert the 2012 losses, as this market dip was too severe….. Salisbury confirmed that he will be assuming another position in the Rio Tinto Group in Australia and said a successor would be sourced within months.http://www.informante.web.na/index.php?option=com_content&view=article&id=12165:roessing-uranium-fights-on-for-survival&catid=1:coastal&Itemid=103

June 13, 2013 - Posted by Christina Macpherson | business and costs, South Africa