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Uranium company’s poor prospects

Tax gains from bad apples: reduce your tax bill | The Australian, 16 June 2010, “… Guadagnuolo sees little prospect of a sustained recovery for uranium miner Energy Resources Australia ………”Further, we think the market has overestimated the scarcity of uranium, while advances in reactor technology will limit demand as reprocessing becomes increasingly effective, with the added benefit of limiting the proliferation of nuclear materials,” he says…..PRIME CANDIDATE FOR TAX LOSS SELLING……Energy Resources of Australia (ERA): Down 43 per cent since June 30.

June 16, 2010 Posted by | AUSTRALIA, business and costs | , , , | Leave a comment

Apparently, uranium prices staying flat

Spot Uranium Quiet,  International Business Times, 15 June 2010,
Sorry, ya gotta pay up to read this one, and http://www.nuclear-news.net has no funds for such

Spot Uranium Quiet – International Business Times

June 15, 2010 Posted by | 2 WORLD, business and costs, general | , , | Leave a comment

USA might speed up sale of Dept of Energy uranium stockpile

Senate Legislation Could Boost Long-Term Sales of DOE Uranium, Garden Windmill – 15 June 2010, The Department of Energy sits on top one of the world’s largest Uranium stockpile,  about a 150 million-pound, worth $6 billion….Tomorrow the  Senate Committee on Energy & Natural Resources will debate the Surplus Uranium Disposition Act, ……Over the next three years the legislation greenlights the sales by the DOE of more than 15 million pounds of Uranium, half of that amount under long-term contracts. Likely buyers will include U.S. electric utilities which have nuclear power  power plants.Senate Legislation Could Boost Sale of DOE Uranium | Garden Windmill – Your Eco Friendly Blog

June 15, 2010 Posted by | business and costs, USA | , | Leave a comment

Share price plummets because of Uranium One’s risky deal with Russia

Uranium One shares dive as Russia deal questioned  Reuters, Jun 9, 2010 Shares tumble 11 pct one day after Russian deal  State-owned ARMZ to take controlling stake in company* Analysts cite rising risk, wonder about approval.By Cameron FrenchTORONTO,  – Uranium One (UUU.TO) shares deepened their slide on Wednesday, a day after the company agreed to sell a controlling stake to Russia‘s state-owned nuclear company, with some analysts cutting share-price targets and questioning whether the deal will be approved….. Uranium prices have been in decline since hitting a record high in 2007, and were at $40.75 a pound this week… UPDATE 1-Uranium One shares dive as Russia deal questioned | Reuters

June 10, 2010 Posted by | business and costs, Russia | , , , , | Leave a comment

Uncertain future for industry related to nuclear power

Loan to Sheffield Forgemasters being reviewed – minister LONDON, June 3 (Reuters) – A loan granted by Britain’s last government to a steelworks company to help it build a manufacturing facility for the nuclear industry is under review, the new business minister said on Thursday. Continue reading →

June 5, 2010 Posted by | business and costs, UK | Leave a comment

Uranium milling company won’t be able to pay for clean-up

Cash-strapped Energy Fuels can pay for uranium mill but not for clean up « Colorado Independent, 2 June 2010, Gulf spill underlines need for companies to put aside vast sums in advance By David O. Williams 6/2/10 12 A Canadian company looking to build the first new uranium mill in the United States in nearly three decades is burning through cash at a rate that could leave it broke right about the time it hopes to secure its final approvals from Colorado public health officials. Continue reading →

June 3, 2010 Posted by | business and costs, Canada | , , , , | Leave a comment

Massive taxpayer payouts to UK nuclear executives

all the directors listed  have since moved into other jobs in the nuclear industry.

Nuclear costs spiral as clean energy budgets face axe,  Left Foot Forward, 2 June 2010, “…..there’s a need for an independent and open audit of NDA spending to examine the room for greater cuts there when you look at these examples of the organisation’s largesse:

* The ex-managing director of Sellafield, Barry Snelson, who ran the site on behalf of the NDA, was recently given a £2,000,000 golden adieu for “loss of office.”

* His colleague David Bonser, head of the thermal oxide reprocessing plant (THORP), was given a £1m pay off at the same time. He was in charge of the site, during the 2007 THORP leak that went unnoticed Continue reading →

June 3, 2010 Posted by | business and costs, UK | , , , , | Leave a comment

Oil disaster does not augur well for uranium amd nuclear industry

One virtually certain outcome of the environmental disaster currently blackening the Gulf of Mexico is that federal regulators will take a harder line on enforcement of environmental regulations. Uranium miners are likely to be particularly hard hit because there isn’t a person in the US who doesn’t fear the consequences of radiation exposure…….Playing fast and loose with the environment is no longer a winning strategy.

Uranium Miners Get Some Good News and Some Bad  24/7 Wall St., Paul Ausick, June 1, 2010 “....The first installment of the investment will help USEC to continue its deployment of its American Centrifuge Plant which produces enriched uranium for use in nuclear power generation. The cash will also help support USEC’s $2 billion loan guarantee application with the US Department of Energy. The not-so-good news for uranium companies was delivered Continue reading →

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

Small scale renewable energy to benefit from bank pledge

Community groups and smaller developers eager to utilise the Government’s new feed–in tariffs regime would benefit from the fund

Co-op bank pledges £200m to UK renewables,  guardian.co.uk,   by Zara Maung 1 June 2010, Extra funding for renewable energy will be welcomed as project financing gets tougher The Co-operative Bank increased its support for renewable energy today, by pledging to lend an additional £200 million to the sector in 2010.

The bank also committed to expanding its UK specialist renewables team in Manchester and creating Scotland–based teams at its corporate banking centres in Edinburgh and Glasgow. The investment follows a £400m renewable energy fund set up by the Co-op in 2007, Continue reading →

June 2, 2010 Posted by | business and costs, UK | , , , , , , | Leave a comment

The nuclear industry in decline

Ockham’s Razor – 30 May 2010 – Nuclear energy: a panacea for climate change?

Nuclear energy: a panacea for climate change?. ABC Radio National, Ockham’s Razor, Dr Adam Lucas – 30 May 2010 “………..What is the status of nuclear energy in the world at the moment? And do the arguments of its proponents stand up to scrutiny? Continue reading →

June 1, 2010 Posted by | 2 WORLD, business and costs | , , , , , , , , | Leave a comment

Glut of uranium as prices plummet

Uranium Remains Weak FNArena News – June 01 2010 By Chris Shaw Spot uranium has given up some recent gains, leading industry consultant TradeTech to reduce its indicative spot market price another US25c last week to at US$40.50 per pound. The fall reflects aggressive attempts by sellers to motivate buying interest, which is coming via material being offered at lower prices.

Nuclear giants stockpile fuel while price is cheap  Times Online, June 1, 2010 Some of the world’s biggest energy companies are stockpiling the nuclear fuel used to power reactors as they try to capitalise on rock-bottom uranium prices.An oversupply of nuclear fuel on international commodity markets has followed five successive years of rapid growth in uranium ore production in Kazakhstan, which has nearly quadrupled its output since 2004.

Raw uranium prices have tumbled to around $40 per pound — almost one quarter of the levels of $140 in 2007……About one third of the world’s total supply of nuclear fuel comes from Russian nuclear weapons that have been decommissioned as part of a disarmament agreement struck with the United States at the end of the Cold War. Nuclear giants stockpile fuel while price is cheap – Times Online

June 1, 2010 Posted by | 2 WORLD, business and costs | , , , | Leave a comment

UK tax-payer might have to foot the bill for nuclear industry

…….over the years, nuclear has had the lion’s share of R&D and public investment in new energy technology, and we are still spending about half our energy R&D funding on nuclear fission and fusion. By comparisons, renewables, as a group, have been starved of funding

(UK) The cost of nuclear  – environmentalresearchweb, 24 May 2010, “………The capital cost is high, and the ultimate cost, if something goes seriously wrong, could be very large.The UK’s nuclear liability law is based on the Paris and Brussels Convention on Nuclear Third Party Liability, which has been in operation since the 1960s. Continue reading →

May 24, 2010 Posted by | business and costs, UK | , , , , | Leave a comment

Russia’s nuclear power sales now going to Bangladesh

Dhaka signs deal with Moscow on nuclear power The Daily Star, 22 May 2010, DhakaBangladesh on Friday signed a crucial framework agreement with Russia on cooperation for its maiden nuclear power plant.A foreign office statement said State Minister for Science and ICT Yeafesh Osman signed the Framework Agreement on Cooperation in the Field of the Use of Nuclear Energy for Peaceful Purposes with Director General of Russia’s State Atomic Energy Corporation or “Rosatom” Sergey Kirienko, former Russian prime minister, in Moscow.

Dhaka signs deal with Moscow on nuclear power

May 22, 2010 Posted by | ASIA, business and costs | , , , | Leave a comment

UK could save billions by cutting back on Trident nuclear submatrines

Billions could be saved by scaling down Trident | Reuters(Reuters) 22 May 2010,  – Britain may be able to save about 11 billion pounds in defence costs if it were to end its policy of keeping at least one nuclear armed-submarine at sea at all times, a prominent defence think-tank said.UK | David CameronDefence spending is a prime candidate for cuts as Prime Minister David Cameron seeks ways to reduce a budget deficit set to reach 163 billion pounds this financial year.Cameron’s government outlined plans on Thursday to reduce the deficit, before an emergency budget due on June 22, including cutting defence ministry running costs by 25 percent.Controversy has swirled around Britain’s submarine-based nuclear weapons system, or Trident, with the Liberal Democrat party, the junior partner in the new coalition government, arguing that it should be replaced with a cheaper alternative.The Conservative Party, the coalition’s senior partner, wants to keep Trident.

Billions could be saved by scaling down Trident | Reuters

May 22, 2010 Posted by | business and costs, UK | , , | Leave a comment

U.S. nuclear power loan guarantee goes to French company AREVA

DOE Picks Areva for Nuclear Facility – WSJ.co By CASSANDRA SWEET 21 May 2010, Siobhan Hughes contributed to this article.The U.S. Department of Energy said Thursday that it has approved a $2 billion loan guarantee for French nuclear power developer, AREVA.

“…..The loan guarantee is part of a broader effort by the Obama administration to stimulate the development of a U.S. supply base for producing enriched uranium.

A condition of the loan guarantee is that Areva obtain a combined construction and operating license for the Idaho facility from the Nuclear Regulatory Commission. The French state owns directly and indirectly around 93% of Areva…..the decision to award Areva a guarantee drew criticism from Ohio, where USEC has a partly-constructed enrichment facility. Rep. Jean Schmidt (R.,Ohio) said the DOE’s decision contradicts a promise by President Obama “to support the American company applicant and build a facility in Ohio.” Ms. Schmidt estimated that the Ohio plant would create 4,000 jobs. DOE Taps Areva to Build Enrichment Plant – WSJ.com

May 22, 2010 Posted by | business and costs, USA | , , , , , , , , , | Leave a comment

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