nuclear-news

Disappointment on uranium mining projects

Major Volatility Is Coming To The Uranium Market , Dave Forrest Business Insider, 11 May There was a mysterious disappearance of uranium in South Australia last week….Last week’s updated resource however, showed just 4.75 million tons using the 300 ppm cutoff.Based on the findings, PepinNini and partner Sinosteel have decided to put the project on hold……This kind of disappointment on uranium projects is becoming more common. This week Aussie developer Toro Energy announced it will abandon a deal to acquire the 13.2 million-pound Napperby uranium project in the Northern Territory.Toro’s management said the numbers on Napperby just don’t pass muster.

………supply above 75,000 tonnes per year has to come from lower-quality, lower-grade deposits … We only have so many high-grade deposits on Earth.Now with uranium languishing in the $40/lb range, we’re not so sure.

May 8, 2010 - Posted by Christina Macpherson | 2 WORLD, business and costs | antinuclear, nuclear costs, uranium