Loss posted for Uranium One
Uranium One posts $9.5m Q1 loss, production up 10% Mining Weekly, By: Natasha Odendaal 14th May 2013 JOHANNESBURG (miningweekly.com) – JSE- and TSX-listed Uranium One on Monday reported a net loss of $9.5-million for the first quarter ended March 31.
This was down from earnings of $4.5-million recorded in the comparative period the year before.
The group, which owns assets in Kazakhstan, the US, Australia and Tanzania, recorded a 60% drop in earnings from mine operations, including joint ventures (JVs), reaching $19.6-million during the first quarter, compared with the $49.3-million achieved in the corresponding period the year before.
Revenue for the period dipped to $5.2-million, from $5.3-million in the first quarter of 2012, while its JV operations contributed revenue of $57.4-million, down from the $90.6-million earned in the comparative quarter last year.
Uranium sales also declined year-on-year with 1.38-million pounds of uranium sold at an average price of $45/lb in the first quarter, compared with the 1.8-million pounds sold at $53/lb in the first quarter of 2012…… the company warned that the year ahead would be capital intensive as it incurred capital expenditure of $164-million on its assets in Kazakhstan, the US and Australia.
About $98-million was allocated for wellfield development, and the remaining $66-million for plant and equipment.
Uranium One noted that general and administrative expenses – excluding noncash items – were expected to reach about $40-million.
Exploration expenses were expected to reach $8-million. http://www.miningweekly.com/article/uranium-one-posts-95m-q1-loss-production-up-10-2013-05-14
Navajo’s continuing fight against nuclear corporations, uranium companies
The Navajo people’s struggle to prevent the re-entry of mining corporations has so far been successful. It is fair to assume that as long as valuable resources remain on Indigenous lands profit-hungry corporations will continue to circle like vultures.
Navajo Nation battles uranium corporations, nuclear industry Decades of dealing with environmental degradation, racism, Liberation, By Bethany Woody MAY 8, 2013 “……….In early 2013, uranium companies approached the Navajo Nation in hopes they will allow them to renew mining operations on their land. These companies claim that they have developed newer and safer methods for extracting uranium, after decades of environmental destruction and abuse led the Navajo Nation to officially ban their mining. Continue reading
Crash go earnings and share price for uranium miner Cameco
Cameco Profit Trails Analysts’ Estimates as Uranium Price Drops http://www.bloomberg.com/news/2013-05-01/cameco-profit-trails-analysts-estimates-as-uranium-price-drops.html By Christopher Donville – May 1, 2013 Cameco Corp. (CCO), the world’s third- largest uranium producer, reported first-quarter profit and revenue that trailed analysts’ estimates after a decline in the price of the raw material in nuclear-reactor fuel.
Net income fell to C$9 million ($8.9 million), or 2 cents a share, from C$129 million, or 33 cents, a year earlier, Saskatoon, Saskatchewan-based Cameco said today in a statement. Profit excluding one-time items was 7 cents a share, missing the 8-cent average of 14 estimates compiled by Bloomberg. Sales declined to C$444 million from C$466 million, less than the C$473 million average of six estimates.The price of uranium for immediate delivery has slumped 40 percent since the March 11, 2011, earthquake and tsunami in Japan led to a meltdown at Tokyo Electric Power Co.’s Fukushima Dai-Ichi nuclear power plant. In response to the disaster, Japan suspended its fleet of reactors while Germany canceled license extensions, shut down some of its oldest nuclear plants and ordered the others close by 2022.
“Fukushima is still a major factor in the uranium market,” Rob Chang, a Toronto-based analyst at Cantor Fitzgerald LP, said in a telephone interview before the results were released. “On top of that, commodity prices around the world have been dragged down by worries about global growth and Chinese demand for raw materials.”
Kazatomprom, Kazakhstan’s state-owned producer, and Paris- based Areva SA (AREVA) are the biggest uranium miners, according to the World Nuclear Association.
(Cameco scheduled a conference call to discuss results at 1 p.m. New York time at +1-877-240-9772or +1-416-340-8530.)
93% fall in earnings so far this year, for uranium mining company
Earnings down for Saskatoon uranium giant CBC News May 1, 2013 Lower sales, lower prices and higher costs pushed down first quarter results at Cameco.
So far this year, the Saskatoon-based uranium company earned $9 million — down 93 per cent from the $129 million Cameco made in the first quarter of 2012……
The company recently laid off a number of staff at its Saskatoon headquarters.
Cameco said most of the power utilities that buy its nuclear products are locked into contracts until 2016….. http://www.cbc.ca/news/canada/saskatchewan/story/2013/05/01/saskatoon-cameco-earnings.html
Groups band together to fight uranium mining near Grand Canyon
While uranium and radium are naturally-occurring radioactive materials, the Environmental Protection Agency (EPA) warns that once they are exposed or concentrated through mining, they become technologically-enhanced in such a way that renders them radioactive and capable of contaminating the surrounding soil and water.
Uranium Mine Just South Of Grand Canyon To Proceed Despite Ban By President Barack Obama http://www.natureworldnews.com/articles/1673/20130430/uranium-mine-south-grand-canyon-proceed-despite-ban-president-barack.htm By Tamarra Kemsley Apr 30, 2013 Uranium mining company Energy Fuels Resources announced its plans to reopen its mine situated six miles south of the Grand Canyon’s South Rim entrance, citing a ban imposed last year by President Barack Obama as void.
The company was given federal approval by the U.S. Forest Service who conducted an environmental study on the site more than 25 years ago in 1986.
In response, several groups, including the Grand Canyon Trust, Center for Biological Diversity, Sierra Club and Havasupai Tribe, have banded together to file suit against Forest Supervisor of the Kaibab National Forest Michael Williams as well as the Forest Service as a whole.
The plaintiffs cite the group’s failure to comply with environmental, mining, public land and historic preservations laws in giving the mine a green light, arguing that since the completion of the Environmental Impact Statements (EIS) in 1986 “significant new information and changed circumstances have emerged concerning the Mine’s operations and adverse environmental impacts.”
Despite such developments, the plaintiffs state the Forest Service “decided not to ‘supplement’ the 1986 EIS” or “require a modification” of the plan of operations put forth more than two decades ago. Among the developments that have occurred since the mine was first approved is the regulation of radon gas, a substance the plaintiffs fear will pollute the area should the mine go forward.
While uranium and radium are naturally-occurring radioactive materials, the Environmental Protection Agency (EPA) warns that once they are exposed or concentrated through mining, they become technologically-enhanced in such a way that renders them radioactive and capable of contaminating the surrounding soil and water.
Since 1879, the EPA reports, uranium mine workers began being diagnosed with lung diseases, including cancer and that workers today are directly exposed to radiation hazards.
According to The Guardian, the energy company’s spokesman has publicly disputed these claims, stating that the Forest Service “looked at that review with modern eyes” in determining once again that the regulations were adequate. He further pointed out that the mines are “tiny,” accounting for about 20 acres total.
However, as The New York Times reports, the Department of Energy and other agencies have evaluated nearly 700 mine sites in need of remediation – a project costing the government hundreds of millions of dollars and that some complain has been largely ineffective.
VIDEO Iraq and USA soldiers – victims of the depleted uranium horror
while our many soldiers’ DU-related health problems is terrible enough on its own, we’ve also left Iraq covered in radioactive munitions fragments that, by the very virtue of having exploded, are essentially impossible to clean up. That is a huge, if overlooked, legacy of the United States’ wars in Iraq: Not only does Iraq have to deal with the physical toll of a decade-plus of war, it’s also been left with a huge, and ongoing, health crisis.
Video (skip the ad) America’s Terrible History of Depleted Uranium http://motherboard.vice.com/read/americas-terrible-history-of-depleted-uranium By Derek Mead 24 April 13, The United States has left its mark on Iraq in myriad ways in its two wars in the Persian Gulf, but one of the least-discussed is the effects of the US military’s use of depleted uranium (DU) munitions. DU is a munitions designer’s dream: projectiles using DU alloys are armor-piercing and incendiary, which means it’s ideal for obliterating and burning tanks and other armored vehicles. But its use has left the Gulf’s battlefields blanketed with radioactive material.
DU is byproduct of the production of the enriched uranium used in nuclear reactors, and as such has relatively low levels of radiation. But Gulf War soldiers were regularly exposed to it, not least when DU used in munitions converted into an aerosol form after explosions. That means that Gulf War soldiers may have been exposed without realizing it, and has long been blamed for contributing to Gulf War Syndrome, Continue reading
No agreement between USA and South Korea on enriching uranium
South Korea and U.S. Fail to Reach Deal on Nuclear Energy, NYT, By CHOE SANG-HUN, April 24, 2013 SEOUL, South Korea — South Korea and the Obama administration delayed the deadline for a deal that Seoul had hoped would allow it to begin making its own fuel for its civil nuclear energy program, but that the United States feared would undermine its attempts to curb nuclear proliferation. It had appeared that a deal might be reached this year, but officials in both countries said the deadline would slip until 2016.
The government of President Park Geun-hye has been pushing hard for the United States to lift a ban, part of a treaty signed in 1972, that prevents South Korea from enriching uranium and reprocessing spent nuclear fuel.
But the same technologies are also used to make material for nuclear weapons. American officials have said that lifting the ban would have complicated diplomatic efforts to persuade North Korea to give up its nuclear programs and to stop any attempt by Iran to develop atomic weapons….. http://www.nytimes.com/2013/04/25/world/asia/south-korea-and-us-fail-to-reach-nuclear-energy-deal.html
Move to have uranium companies clean up their mess in Colorado
A Fight in Colorado Over Uranium Mines NYT, By DAN FROSCH April 16, 2013 SLICK ROCK, Colo.”……..Despite bursts of activity from 2003 through 2008, most uranium mines scattered across Colorado have largely been out of production for decades, a testament to fluctuating mineral prices. Now the future of these mines is at the crux of a dispute that could set a precedent for how they are handled.
Environmental groups in Colorado contend that many of the state’s 33 uranium mines should be forced to clean up, given that uranium mining, which flourished here during the cold war, has gone dormant. In legal filings, they have alleged that companies like Cotter are skirting potential costs associated with cleanup, which is required by the state after an operation shuts down. Continue reading
403 containers of highly radioactive waste to be dumped in Nevada
DOE finalizing plans to dump man-made uranium in Nevada, Fox News, By Barnini Chakraborty April 12, 2013 WASHINGTON – A Department of Energy plan to drag hundreds of canisters of radioactive nuclear material 
into the Nevada desert for a “shallow land burial” is raising safety concerns as experts worry what could happen if the security of the bomb-making material were compromised. Energy officials told FoxNews.com the department is preparing to ship 403 welded steel containers of a man-made highly radioactive cargo to the Nevada National Security Site, about an hour northwest of Las Vegas. Continue reading
Now three Canadian provinces halt uranium mining
Quebec becomes third province to impose uranium moratorium Mining.com Vladimir Basov | April 4, 2013 Quebec became the third Canadian province, after Nova Scotia and British Columbia, to establish a moratorium on uranium development.Environment minister Yves-Francois Blanchet announced last Thursday no permits for exploration or mining will be issued until an independent study on the environmental impact and social acceptance of extracting uranium has been completed…..
British uranium group insists ! Japan must restart nuclear reactors
Uranium firm warns Japan it must return to nuclear power
The Times, Tim Webb
March 29 2013
A uranium enrichment group, part owned by the British Government, has warned that Japan’s decision to shut nuclear power stations will reduce demand for its services. (subscribers only) http://www.thetimes.co.uk/tto/business/industries/utilities/article3725842.ece?CMP=OTH-gnws-standard-2013_03_28couldnt resist adding these links 🙂 for further reading!
UK and Canada try to revive UK nuclear! Privatising nuclear fuel production!
….Bidders are lining up for for Urenco’s privatisation, which could put £4bn in the UK chancellor’s coffers….
…The newspaper said that Areva was holding talks with private equity firms including Apax and CVC, regarding a possible joint offer for Urenco, and that Morgan Stanley had been appointed to handle the sale, with a float also a possibility….
https://nuclear-news.net/2013/03/18/43219/
Russian protests against Areva and Urenco’s nuclear waste dumping
Areva and its counterpart Urenco, headquartered in Britain, have sent close to 140,000 tonnes of nuclear waste to Russia in the past 15 years.
DEPLETED URANIUM IN RUSSIA Protests as French uranium arrives in Russia Javno 2 Feb 2010 A cargo loaded with depleted uranium from France docked in Saint Petersburg, as Russian activists protested at the nuclear waste exports.
UK to sell out of nuclear power company URENCO
Nuclear sale set to net billions for UK The Government is holding a “beauty parade” for bankers to advise it over a potential sale of the UK’s multi billion-pound stake in nuclear power giant Urenco. Telegraph UK, By Emma Rowley, Rowena Mason, and Helia Ebrahimi 15 Jul 2012
The move marks a step towards a deal that could net British taxpayers
as much as £3bn, according to estimates that value the entire company
at £8bn-£10bn.
https://nuclear-news.net/2012/07/16/uk-to-sell-out-of-nuclear-power-company-urenco/
UK – Areva, Toshiba eye nuclear fuel producer Urenco – sources
“…A financial markets source close to the discussions said that private equity houses KKR (KKR.N) and CVC were also interested in striking a deal for Urenco…”
By Karolin Schaps and Christoph Steitz
LONDON/BERLIN | Mon Jan 21, 2013 6:37pm GMT
(Reuters) – France‘s Areva (AREVA.PA) and Japan’s Toshiba Corp (6502.T) are considering bids for nuclear fuel producer Urenco, but British, German and Dutch authorities disagree over what to do with the ultra-secret firm, industry sources said.
Britain is keen to sell its 33 percent stake, and German utilities RWE (RWEG.DE) and E.ON (EONGn.DE) are talking to potential buyers over their combined 33 percent, but the Dutch government is not considering a sale.
https://nuclear-news.net/2013/01/22/uk-areva-toshiba-eye-nuclear-fuel-producer-urenco-sources/
Investors trying to boost price shares? soon to sell maybe?? 🙂 – Arclight2011
Moratorium on uranium development in Quebec
“It’s a little bit like asbestos — people have come to the conclusion that there are certain minerals that are so dangerous that they’re not worth mining, they’re better to leave underground,” Edwards said. “One is asbestos, and one is uranium
Quebec imposes moratorium on uranium development, Montreal Gazette, By Kevin Dougherty and Monique Beaudin, March 28, 2013
QUEBEC — No permits for the exploration or mining of uranium in Quebec will 
be issued until an independent study on the environmental impact and social acceptance of extracting uranium has been completed, Environment Minister Yves-François Blanchet announced Thursday. Continue reading
The nuclear toll: Fallujah’s birth deformities, cancers- theme for June 19
‘
Falluja Babies’ and Depleted Uranium — America’s Toxic Legacy in 
Iraq http://www.alternet.org/world/falluja-babies-and-depleted-uranium-americas-toxic-legacy-iraq Two US-led wars in Iraq have left behind hundreds of tons of depleted uranium munitions and other toxic wastes. March 18, 2013 |
Many prominent doctors and scientists contend that DU contamination is also connected to the recent emergence of diseases that were not previously seen in Iraq, such as new illnesses in the kidney, lungs, and liver, as well as total immune system collapse. DU contamination may also be connected to the steep rise in leukaemia, renal, and anaemia cases, especially among children, being reported throughout many Iraqi governorates.
There has also been a dramatic jump in miscarriages and premature births among Iraqi women, particularly in areas where heavy US military operations occurred, such as Fallujah.
Official Iraqi government statistics show that, prior to the outbreak of the First Gulf War in 1991, the rate of cancer cases in Iraq was 40 out of 100,000 people. By 1995, it had increased to 800 out of 100,000 people, and, by 2005, it had doubled to at least 1,600 out of 100,000 people. Current estimates show the increasing trend continuing. Continue reading
Australia’s Great Barrier Reef could be lost for uranium’s petty financial gain
The price tag of the uranium deposits in Queensland, if all extracted and sold is about $10 billion. A pretty big chunk of cash, but worth only a paltry two years of tourism dollars that the Great Barrier Reef brings in.
To anyone who has looked in wonderment at the fish on a reef, this is not an “Australian issue”, this is an issue that speaks to how we want to leave the world to future generations. Our kids will remember visiting a reef teeming with tropical fish, turtles and fluorescent coral, but what will they remember if it isn’t there to be seen? They sure as heck won’t remember the quick buck made by uranium mining companies a few decades previous
Radioactive scuba diving a potential new Aussie destination sport http://www.vancouverobserver.com/city/outdoors/radioactive-scuba-diving-potential-new-aussie-destination-sport Kevin Grandia Mar 19th, 2013 Okay, I am exaggerating, but only slightly, but new anti-regulation laws have recently been passed in Australia that could mean uranium will be shipped out directly over this oceanic masterpiece of nature. Continue reading
Fukushima casts a continuing gloom over uranium market
Ongoing problems at the disaster-stricken Fukushima Daiichi nuclear power plant aren’t helping Japanese citizens’ perception of the safety of nuclear power. A recent power outage Monday left four fuel storage pools without fresh cooling water…..
1 This Month
of the week– Nuclear Reactor Information Task Force
14 May – online event From Bombs to Data Centres: the Face of Nuclear Colonialism
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