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Russian company gets control of Wyoming uranium mines

NRC approves uranium license transfer in Wyoming – BusinessWeek, By MEAD GRUVER, 1 Dec 10, CHEYENNE, Wyo.Two uranium mines in Wyoming are on their way to control by a Russian company now that the Nuclear Regulatory Commission has approved transferring the mines’ licenses.The commission last week approved the license transfer involving a Russian company, JSC Atomoredzoloto, or ARMZ, which expects to obtain a controlling interest in Canadian-owned Uranium One by year’s end. Uranium One holds the licenses for a proposed in-situ uranium mine and an existing in-situ uranium mine in northeast Wyoming………..Uranium One on Friday announced closing the initial $610 million phase of the transaction with ARMZ. The companies expect a final deal giving ARMZ a 51 percent holding in Uranium One shares to close by the end of December. NRC approves uranium license transfer in Wyoming – BusinessWeek

December 2, 2010 Posted by | business and costs, USA | Leave a comment

Antiquated USA mining law allows free uranium grab by foreign companies

“The roots of the problem reach back to the 1872 mining law, which allows any claimholder, domestic or foreign, to mine on the majority of America’s public lands – and to take billions of dollars in minerals for free,”

Uranium deal with Russians shows need for mining reform, activists say « Colorado Independent By David O. Williams 11/29/10 ,Mining reform groups over the weekend reacted sharply to Wednesday’s decision by the U.S. Nuclear Regulatory Commission (pdf) to allow the transfer of two uranium mining licenses in Wyoming to Atomoredzoloto (ARMZ), a firm controlled by the Russian state nuclear agency. Continue reading →

November 30, 2010 Posted by | business and costs, Uranium, USA | Leave a comment

Nuclear company EDF has financial and legal problems

The European Commission plans to take France to the European Court of Justice over a provision in the reform which maintains local taxes on electricity, La Tribune reported today……..….

EDF May Sell Nuclear Power Below 42 Euros, Deputy Says, Bloomberg, By Tara Patel – Nov 26, 2010 Electricite de France SA may be forced to sell nuclear power to rivals at less than it says it needs to recoup production costs under a law adopted yesterday by France’s National Assembly, according to a lawmaker. Continue reading →

November 26, 2010 Posted by | business and costs, France | , , , , , | Leave a comment

Costly electricity in $40 billion Toronto nuclear power expansion

it will also send energy bills skyrocketing, with the average bill expected to double over the next 20 years. Ontarians can expect to see a 3.5 per cent annual increase on their bills over that period.The plan could cost up to $40 billion and will be the largest nuclear improvement project on the continent.

More Money For Nuclear Power, But At What Cost? – CityNews, Toronto, 23 Nov 10, The Ontario government is expanding its nuclear power capacity. It was announced Tuesday the province will refurbish as many as 10 reactors and add two to the Darlington plant over the next 10 years. Continue reading →

November 24, 2010 Posted by | business and costs, Canada | , , , , | Leave a comment

Russia cutting back on nuclear safety expenditure

now under threat as funds for nuclear safety co-operation have been omitted from expenditure earmarked for local regional purposes.

Cash Cut Threatens Finnish-Russian Radiation Safety Co-operation YLE Uutiset22 Nov 10, Co-operation on nuclear safety between Finland and Russia could grind to a halt due to a lack of cash. Continue reading →

November 23, 2010 Posted by | business and costs, Russia | , , , , | Leave a comment

Renewable energy a cheaper, faster option, than nuclear

Meanwhile, Erin Noble with the Missouri Coalition for the Environment said that wind and solar energy would be better investments than nuclear power.

“Both of which [are] dramatically cheaper than nuclear and don’t have the nuclear waste issue, and can be actually implemented today and put Missourians to work today,” Noble said.

Critics oppose deal to pursue new nuclear reactor in Missouri. KWMU. Marshall Griffin, St. Louis Public Radio (2010-11-22) A deal announced last week to pursue a second nuclear power plant in Missouri is beginning to draw criticism. Continue reading →

November 23, 2010 Posted by | business and costs, USA | , , , , , | Leave a comment

Nuclear company AREVA hits a snag in expansion – short of money

In case of a new delay, the capital increase, aimed at helping Areva fund its international expansion, could be postponed to next spring,

Areva’s planned capital hike could stall-reportsMon Nov 22, 2010  PARIS  (Reuters) – French nuclear reactor maker (CEPFi.PA: Quote) may have to postpone a supervisory board meeting on its planned capital increase, threatening to stall the process, Continue reading →

November 23, 2010 Posted by | business and costs, France | , , , , , , | Leave a comment

French nuclear company dreams of empire, as nuclear industry slumps in France

numerous problems…….. from industrial action to the company’s growing debt and a fall in nuclear output and capacity usage in France…..

EDF Looks To Build Nuclear Empire Outside U.S.  WSJ.com By GéRALDINE AMIEL, NOVEMBER 21, 2010,

PARIS—The future of Électricité de France SA lies primarily in nuclear energy, but probably not in the U.S.—at least according to Henri Proglio, the French power group’s chairman and chief executive……. Continue reading →

November 22, 2010 Posted by | business and costs, France | , , , , , , , | Leave a comment

Thailand and Vietnam just not able to afford nuclear power

The first plants are likely to be delayed until 2028 at the earliest, he said.“The key element is also the financing of these projects, which we feel will be delayed…Vietnam may not be able to afford paying “a premium”…

Thai, Vietnamese Nuclear Plans Face Delays, Wood Mackenzie Says – Bloomberg, By Ann Koh – Nov 19, 2010 Southeast Asia’s first nuclear power plants, planned in Vietnam and Thailand by 2020, may be delayed by at least eight years Continue reading →

November 19, 2010 Posted by | ASIA, business and costs, Vietnam | , , , , , , | Leave a comment

Another USA nuclear power plant plan bites the dust

Ameren nuclear plant bill likely dead for this session, STI Today, 18 Nov 10, “………..A bill that would pave the way for a new Ameren nuclear plant has hit a roadblock in the Missouri Senate and is likely dead for the session.One of the Legislative session’s most controversial bills, the Ameren-backed proposal would repeal the state’s prohibition on utility companies charging customers for some costs of an electrical plant before the facility is up and running.But consumer groups and large industrial companies in the state complained that the bill also rewrote utility regulations to the point where Ameren could reap too many rate increases during the process of building a $6 billion plus nuclear plant in Callaway County……..”UPDATE: Ameren nuclear plant bill likely dead for this session

November 19, 2010 Posted by | business and costs, USA | , , , , | Leave a comment

Despite Republicans’ electoral success, nuclear power industry’s future in USA looking grim

Nationwide, ground has been broken for just four reactors, two twin-unit nuclear plants since the 1970s……both are in locations that are insulated from the market, in Georgia and South Carolina. In both locations, the business risk rests with the ratepayers, not with the shareholders…….

G.O.P. Gains on Capitol Hill May Not Advance Nuclear Power, NYTimes.com, By MATTHEW L. WALD, November 16, 2010 WASHINGTON THE outspoken supporters of nuclear power are mostly Republicans, and the Republicans are about to take control of the House of Representatives and gain six seats in the Senate. Is this good news for nuclear power? Continue reading →

November 18, 2010 Posted by | business and costs, USA | , , , , , , | Leave a comment

French nuclear firm stuck, unable to sell nuclear reactors in USA

EDF Puts U.S. Nuclear Expansion Plans on Hold,  BloombergBy Tara Patel – Nov 16, 2010 Electricite de France the biggest operator of nuclear reactors, put on hold a plan to develop atomic plants in the U.S…. EDF is reviewing its business in the U.S. and supply contracts for developing a reactor, Thomas Piquemal, chief financial officer, said today on a conference call. “When we have a better visibility on the regulatory environment and price evolution, we will be in a better position to see whether we go ahead with U.S. projects.”

EDF agreed last month to pay about $249 million partly to buy out Constellation Energy Group Inc. from a venture to develop EPR reactors in the U.S., including one in Maryland. Slumping power prices has cut the value of three U.S. atomic plants that the two utilities own together and forecasts of sustained low prices prompted Constellation to withdraw from talks on a government loan guarantee for the Maryland reactor…..

November 17, 2010 Posted by | business and costs, France | , , , , , , , | 1 Comment

American firms keen to make big money out of selling nukes to India

GE scouting for acquisitions in India | Reuters, By Devidutta Tripathy and Anurag Kotoky NEW DELHI | Mon Nov 15, 2010 GE, which set up India’s first hydropower plant in 1902, is keen to tap a $150 billion atomic market Continue reading →

November 17, 2010 Posted by | business and costs, India | , , , , , | Leave a comment

Time running out for Vermont nuclear plant

An Uncertain Nuclear Countdown, November 5, 2010, NYTimes.com, By MATTHEW L. WALD If the clock is ticking on the lifetime of the Vermont Yankee nuclear plant, when will it actually close? Continue reading →

November 6, 2010 Posted by | business and costs, USA | , , , , , , | Leave a comment

Entergy trying to sell Vermont Yankee nuclear plant

State lawmakers have reacted vehemently to a series of misstatements and missteps by Entergy and leaks of radioactive tritium at the plant, in Vernon, Vt., on the banks of the Connecticut River near the Massachusetts border….

Vermont Nuclear Plant Up for Sale,  NYTimes.com, By MATTHEW L. WALD  November 4, 2010 Entergy Nuclear, evidently convinced that the Vermont legislature will not allow the company to run the Vermont Yankee nuclear plant for another 20 years, announced on Thursday that the plant was up for sale. Continue reading →

November 6, 2010 Posted by | business and costs, USA | , , , , , | Leave a comment

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