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Moneyweb – Investment Insights – Uranium One’s shocker

Uranium One’s shocker
Uranium One writes down USD 2.8bn in the third quarter, mostly attributable to the Dominion debacle in South Africa.
MONEYWEB Barry Sergeant14 November 2008 16:08 JOHANNESBURG –”……………………….During the latest quarter, Uranium One wrote down mineral interests, plant and equipment to the tune of USD 1.8bn on Dominion, USD 0.7bn on US exploration properties, USD 0.2bn on Honeymoon and Australian exploration, and USD 0.1bn on Hobson (US), La Palangana (US) and Shootaring Mill (US).

According to statements from the company released on Friday, the fair value of Dominion at 30 September 2008 has been estimated as its “salvage value” of USD 50.5m.

Uranium One’s stock price has moved from highs in 2007 of CAD 35 a share – the stock holds a primary listing in Toronto – to recent lows of 60 cents a share, a fall of 99%. The stock was most recently quoted at CAD 1.13 a share.

Uranium One has persistently refused to supply even the vaguest answer as to how much shareholder cash Dominion has been wolfing down. -…………………………..Uranium One’s stock price has moved from highs in 2007 of CAD 35 a share – the stock holds a primary listing in Toronto – to recent lows of 60 cents a share, a fall of 99%.

Moneyweb – Investment Insights – Uranium One’s shocker

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November 15, 2008 Posted by | business and costs | Leave a comment

The Telegraph – Calcutta (Kolkata) | Jharkhand | UCIL leak bothers Aussie expert

UCIL leak bothers Aussie expert

The Telegraph Jamshedpur, Nov. 14: A member of Medical Association for Prevention of War, Australia, Tilman Alfred Ruff today visited Dungridih village in East Singhbhum that witnessed spilling of radioactive waste due to a leakage in the pipeline that carries it to the tailing pond of Uranium Corporation of India Limited (UCIL).

Ruff, who is also a director at International Physicians for Prevention of Nuclear War, claimed that the 25 families are forced to live in unhealthy and toxic environment due to the leakage.

His visit was organised by a local NGO, Jharkhand Organisation Against Radiation, which campaigned against the radiation.

Talking to reporters today, Ruff maintained that the world should shun nuclear power in view of the waste it produces. “Toxic and unhealthy waste has spilled over the entire region and I am surprised to find children playing on the radioactive waste. Though UCIL has covered the area with a layer of earth, people of the area may still be affected by the ill-effects of radiation,” said Ruff.

He said that people should not live within 100m of the pipe that carries radioactive material.

The Telegraph – Calcutta (Kolkata) | Jharkhand | UCIL leak bothers Aussie expert

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November 15, 2008 Posted by | Uncategorized | Leave a comment

Australians march against climate change | Environment | Reuters

Australians march against climate change

SYDNEY (Reuters) – Tens of thousands of Australians took part in mass protests around the country Saturday to call for tough government action on climate change, organizers said.

The demonstrations were held as Australia prepares to set national greenhouse gas emissions targets, expected around the end of this month. Environmentalists accuse industry of pushing for targets that are likely to compromise the environment.

Australia is the world’s 16th biggest carbon polluter, producing about 1.5 percent of the world’s global emissions. It is the fourth largest emitter per person, with five times the pollution per person of China.

The center-left government will outline its preferred emissions following public consultations involving global miners such as BHP Billiton and power companies like AGL Energy………………………..Cate Faehrmann, executive director of the Nature Conservation Council of New South Wales state, said the march came amid a background of pressure from the fossil fuels industry for the government to adopt relatively soft emissions targets……………..

“There is not enough investment in renewable energy in this country. Job creation can occur there.”

Australia was one of the longest holdouts against the Kyoto protocol, which Prime Minister Kevin Rudd finally committed the country to joining following his landslide election win last year, leaving the United States as the only major country not to have joined it.

Australians march against climate change | Environment | Reuters

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November 15, 2008 Posted by | environment | Leave a comment

Nuclear energy nonsense – Salt Lake Tribune

Nuclear energy nonsense
The Salt Lake Tribune Public Forum Letter 11/14/2008  The Tribune reported that Utah’s School and Institutional Trust Lands Administration is finalizing a lease agreement with Emery County that could pave the way for a nuclear power plant in Utah…………..South Carolina’s Charlotte Observer recently reported that Duke Energy now says its new nuclear power plant will cost $11 billion, double its estimates of two years ago.

Nuclear energy nonsense – Salt Lake Tribune

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November 15, 2008 Posted by | business and costs | Leave a comment

Renewable Energy To Surpass Gas by 2012

Renewable Energy To Surpass Gas by 2012 SustainableBusiness.com  14 Nov 08 Renewable energy will surpass gas as the second largest source of electricity by 2012, according to the latest report by the International Energy Agency (IEA)……………………….”Renewables-based electricity generation is expected to grow substantially over the coming decades, benefiting from high fossil-fuel prices, declining investment costs and government support,” said the report………………The ‘Global Wind Energy Outlook 2008,’ published by the Global Wind Energy Council (GWEC) and Greenpeace International, looks at the global potential of wind power and found that it could play a key part in achieving the dramatic shift needed to reduce emissions by 2020, which the IPCC indicates is necessary to avoid the worst consequences of climate change.

Renewable Energy To Surpass Gas by 2012

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November 15, 2008 Posted by | ENERGY | Leave a comment