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Uranium price not getting any better

Uranium Spot Prices Slip Below $50 Uranium Investing News, August 8, 2012,   By Melissa Pistilli –  The uranium spot price slipped further last week, dropping below the $50 mark for the first time in nearly a year as sellers gave in to lower bids.

This week, TradeTech is reporting a spot price of $49.50 per pound, down 25 cents from the previous week. …. The consulting firm said transaction activity in the spot market remains “exceptionally weak,” with transaction volume at less than 500,000 pounds of U308 over the past two months. Even with ConverDyn’s Metropolis Works conversion facility looking at a possible 15-month shutdown for safety upgrades, “the market is at a standstill.”…

August 8, 2012 Posted by | 2 WORLD, business and costs, Uranium | Leave a comment

Mystery still shrouds uranium tailings storage

It is presently unknown what type of containment system —if any — would offer any degree of protection to groundwater or for how long at Coles Hill.

Mystery still shrouds uranium tailings storage, Star Tribune,  Karen B. Maute  August 1, 2012 Virginia Uranium Inc.’ website states: “Much of the tailings will be mixed with a cement-like substance and put back into the mine shafts and drifts, and the rest will be stored in heavily-monitored and regulated below-grade storage facilities.” Continue reading →

August 2, 2012 Posted by | Uranium, USA, water | Leave a comment

Navajo Nation determined to get uranium cleanup

The Navajo Nation Diné Natural Resources Protection Act of 2005 prohibits uranium mining within Navajo Indian Country.

Uranium Cleanup is Priority for Navajos NEW MINING IS SECONDARY OFFICIALS SIGN AGREEMENT , Cibola Beacon, July 31, 2012   By Donald Jaramillo Beacon Managing Editor   CIBOLA COUNTY – The Navajo Nation and many of its members have stated it loud and clear, no new uranium mining until cleanup is complete on Navajo lands.
An agreement was signed on July 19 between the Navajo Nation and Hydro Resources, Inc. (HRI), a subsidiary of Uranium Resources, Inc. (URI).  Continue reading →

August 1, 2012 Posted by | indigenous issues, Uranium, USA | Leave a comment

a SILEX facility could make it much easier for a rogue state to clandestinely enrich weapons grade uranium to create nuclear bombs

SILEX could become America’s proliferation Fukushima,

Controversial nuclear technology alarms watchdogs  http://www.smartplanet.com/blog/intelligent-energy/controversial-nuclear-technology-alarms-watchdogs/18138  By David Worthington | July 30, 2012 A controversial nuclear technology is raising alarms bells among critics who claim it may be better suited for making nuclear weapons than lowering the cost of nuclear power and could lead to a nonproliferation “Fukushima” for the United States. Continue reading →

July 31, 2012 Posted by | Reference, safety, technology, Uranium, USA | Leave a comment

Cameco uranium company – profit loss with low sales and prices

Cameco profit hit by lower sales, prices Mining Peter Koven  Jul 27, 2012 Second quarter profit dropped sharply at Cameco Corp. as the uranium giant’s sales volumes declined and it faced lower realized prices and higher costs.

Adjusted net income came in at $34-million, or 9 cents a share, down from 18 cents a year ago. The numbers fell short of analyst expectations.

Uranium sales volumes in the quarter were 5.3 million pounds, well down from 5.8 million pounds in the second quarter of 2011. Saskatoon-based Cameco’s realized price also dropped 8% year-over-year to US$42.08 a pound because of lower U.S.-dollar prices under
fixed-price contracts. Uranium production dropped 7%….

July 29, 2012 Posted by | business and costs, Uranium | Leave a comment

Flat uranium market with more uncertainty about the industry’s future

Uranium, Two Pounds For A Benny International Business Times, July 24, 2012  By Andrew Nelson It was yet another dull week on the spot uranium market last week, marked by slim volumes and another minor price decline. As of Friday, a US$100 bill sporting the inscrutable face of Benjamin Franklin, will now buy you two pounds of uranium.

Industry analyst TradeTech reported just 3 transactions last week, with only 250,000 pounds changing hands. Also affecting trading was news that Honeywell will not restart production at its Metropolis Works conversion facility, operated by ConverDyn. The company said the plant could remain closed for as long as 12-15 months in order to
undertake safety upgrades ordered by the US Nuclear Regulatory Commission…….

Whether the news is relevant or not to the daily grind of the uranium spot trading, it certainly did a good job of introducing even more uncertainty into what remains a very tentative market. The end result of low volumes, at least one motivated sell and new uncertainly was a US$0.25 decline in TradeTech’s Weekly U3O8 Spot Price Indicator to US$50.00.

There was no activity and only a little demand in the term market. None of it was new and all of it is coming from non-US utilities. TradeTech’s mid-term and long-term indicators remained unchanged at US$54.00 and US$61.00 respectively….
http://au.ibtimes.com/articles/366001/20120724/uranium-two-pounds-for-a-benny.htm#.UBGVnGGe5dM

July 26, 2012 Posted by | 2 WORLD, business and costs, Uranium | Leave a comment

Keep Virginia’s ban on uranium, says Norfolk Council

Norfolk council backs uranium mining moratorium By Steven G. Vegh The Virginian-Pilot  July 25, 2012 NORFOLK The City Council called unanimously on Tuesday for a continuation of the state’s moratorium on uranium mining to safeguard rivers and reservoirs that provide Norfolk’s drinking water.

“This is a vote for us to stand up for the system and against anything that may somehow taint the quality of the water,” Mayor Paul Fraim said after the vote at the council’s regular meeting.

Fraim said the action intentionally echoed a similar resolution approved by Virginia Beach last month against mining and milling uranium ore…. Fraim said the city’s water system serves 700,000 people a day, including naval bases. “We’re very protective of that system,” he said, and cautious about anything that might interfere with the water quality.

July 26, 2012 Posted by | opposition to nuclear, Uranium, USA | Leave a comment

USA rejects South Korea’s push to enrich uranium

Samore says no need for S. Korea to enrich uranium By Lee Chi-dong WASHINGTON, July 23 (Yonhap) — Gary Samore, President Barack Obama’s top aide for nonproliferation, said Monday that the U.S. sees no need for South Korea to enrich uranium, a stance against Seoul’s goals. Continue reading →

July 25, 2012 Posted by | politics, South Korea, Uranium | Leave a comment

Continued decline in price of uranium

 Uranium Continues to Slide, 9 News 18 July 12 Last week was another slightly down-week for uranium spot prices, with industry consultant TradeTech reporting just three transactions taking place. Total volume on the spot market was 400,000 pounds, with little activity in either the supply or demand side. TradeTech notes the lack of any sort of firm demand is continuing to place downward pressure on spot prices.
Sellers, for the most part, just don’t want to cut their prices and buyers remain speculative in nature.  This is a continuation of the prevalent trend over recent months and means the gap between willing sellers and buyers is continuing to increase.

Based on TradeTech’s assessment of the level at which it assumes a willing buyer and willing seller would do a deal, it’s Weekly U3O8 Spot Price Indicator finished last week at US$50.25 per pound, down US$0.35 from the previous week’s value….
http://finance.ninemsn.com.au/newscolumnists/other/8500561/uranium-continues-to-slide

July 18, 2012 Posted by | 2 WORLD, business and costs, Uranium | Leave a comment

USA exempting uranium mining on federal lands from environmental reviews

Republicans push through mining deregulation bill http://www.nuclearfreeplanet.org/articles/republicans-push-through-mining-deregulation-bill.html  7-13-2012   Joined by only 22 Democrats, Republicans successfully pushed through a bill allowing uranium mining on federal lands to be exempted from “formal environmental reviews. Also included in the exemption would be copper, silver, and gold. Rep. Ed Markey (Dem-MA) accused the Republicans  of “actually appear[ing] to be trying to usher in a new stone age,” saying the bill was “a pretext for gutting environmental protections relating to virtually all mining operations” and “a GOP giveaway game show here on the House floor.”
Rep. Rush Holt, Democrat- NJ joined Ed Markey in saying: “It has almost nothing to do with national strategic critical minerals production… Make no mistake, this is a giveaway… It is free mining, no royalties, no protection of public interest, exemption from royalty payments, near exemption from environmental regulations, near exemption from legal enforcement of the protections.”


LARRY MARGASAK (AP) l Seattle Times l 12 Juy 2012

Republicans pushed a bill through the House Thursday that allows the government to exempt gold, copper, silver and uranium mining on federal land from formal environmental reviews…

Read full text

July 14, 2012 Posted by | environment, politics, Uranium, USA | Leave a comment

Documentary shows the threat of uranium mining to the Grand Canyon

Documentary Short: How Uranium Mining Threatens The Grand Canyon  http://thinkprogress.org/climate/2012/07/11/515109/documentary-short-how-uranium-mining-threatens-the-grand-canyon/?mobile=nc  By Public Lands Team on Jul 11, 2012 By Jessica Goad

Today the Center for American Progress and the Sierra Club released a series of short documentary videos called “Public Lands, Private Profits .”

One of the stories, “A Grand Threat ,” profiles the new rush to extract uranium around Grand Canyon National Park. A Canadian company is currently excavating uranium at one mine on the north rim of the canyon, and it has plans for more mines in the near future.

Although Secretary of the Interior Ken Salazar set one million acres off-limits to mineral extraction this past January, that decision applied only to new mining claims, not those already in existence.  There are approximately 3,500 mining claims that may be valid — potentially resulting in up to 11 uranium mines  near the Grand Canyon.

Shockingly, these new mines are moving forward under environmental studies and plans of operation last approved in the 1980s. Although the Interior Department and the Forest Service have full authority to demand updated environmental reviews, they have not taken that step.

And just two weeks ago, Kaibab National Forest Supervisor Mike Williams agreed to let Denison move forward  with its plans to develop the Canyon Mine (featured in the video) under environmental and cultural impact studies from 1986.

Last week, Denison Mines sold its U.S. assets to Energy Fuels Incorporated. Denison declined to comment, but Energy Fuels explained that it is “highly cognizant ” of the responsibilities of mining in the region.

Opponents of uranium mining fear that any water pollution could take years to clean up. To find out more about this issue or to take action, visit the Sierra Club’s website .

July 12, 2012 Posted by | Resources -audiovicual, Uranium | Leave a comment

Workers exposed to airborne uranium, due to pressurised yellowcake containers

Pressurized drums create yellowcake uranium hazard, NRC says By Todd Sperry, CNN Senior Producer July 11, 2012 – Washington (CNN) — After three Canadian employees were exposed to yellowcake uranium last month when a lid blew off a pressurized 55-gallon drum, a uranium mining company has informed U.S. nuclear regulatory officials it has found additional drums possibly susceptible to the same problem, CNN has learned..

.. The NRC and
Canadian nuclear officials are investigating drums shipped from a Willow Creek, Wyoming, mining facility operated by Uranium One to an Ontario processing plant where workers opened them, including the one that ejected the powder. The three employees were overcome by a cloud of yellowcake uranium that had unexpectedly become pressurized.
The worker closest to the drum and two others in the area, who were not wearing respirators, were exposed to airborne uranium, according to the NRC..

… Yellowcake is the byproduct of uranium ore that is mined, crushed and milled until concentrated. It is a key component in manufacturing uranium fuel for nuclear reactors.
NRC officials gave Uranium One until this week to identify whether any other drums had become pressurized during manufacture or shipment…… Other drums shipped to the Canadian facility containing yellowcake were found to be bulging from internal pressure, the NRC said.

July 12, 2012 Posted by | Canada, incidents, Uranium | Leave a comment

Recycling is one way to manage rare earths responsibly

Recycling Rare Earths Stop Lynas, 11 July 12, “…….We know that human induced climate change is a fact. Solutions to cut carbon emissions include energy efficiency, hybrid cars and renewable technologies like wind power which all need rare earths. But it is a dangerous path we are on when we continue with the ‘business as usual’ moto – instead we must continue to challenge the influence of governments and corporations that do not take people’s needs into account by protecting human rights and the environment for future generations.

One partial solution to the negative impacts of rare earth mining and processing would be to reduce consumption and increase the reuse and recycling rates of rare earth elements. Currently the recycling rate for most rare earth metals is around 1% or less . Japan is exploring increased recycling of rare earths  fromelectronic waste . If the price of the final materials included the true social and environmental costs of rare earth mining, the incentive to recycle and dig up less would increase.

We must be concerned not only with how our use of rare earths contributes to their depletion, but also how pollution from the production, processing and use of rare earths should be considered in the context of our use – particularly because rare earths are recyclable.           http://stoplynas.org/recycle-rare-earths/

July 11, 2012 Posted by | RARE EARTHS, Uranium | Leave a comment

Environmental and financial benefits of recycling rare earths

The Recycling Cost-Benefit Equation One of the benefits of recycling rare earth metals from batteries is that a supply of recycled lanthanum should be more reliable than relying on virgin Chinese sources. Recycling also uses less energy and
emits less carbon dioxide than mining. The economics are less firm, but Caffarey said there is a financial justification for recycling rare earths.

Recycling rare earth metals from batteries American Recycler News, by Mark Henricks, July 12, Toyota has sold nearly 3 million Prius hybrid-drive automobiles, each of which contains a battery pack that has more than 20 lbs. of an exotic metal called lanthanum. Lanthanum, like most of the 17 so-called rare earth elements, primarily comes from China, which has recently tightened export quotas. Special properties of rare earth metals make them highly useful for batteries, magnets and electric motors, and China wants to reserve them for its domestic industries.

Tension between rising demand for lanthanum, which has been infrequently used in products before now, and uncertain supply has created growing interest in finding ways to recycle the millions of batteries that will be coming out of hybrid and plug-in electric cars using nickel-metal hydride batteries. There are plenty of precedents. Continue reading →

July 11, 2012 Posted by | 2 WORLD, RARE EARTHS, Uranium | Leave a comment

Production stops at AREVA’s Niger uranium mine, as workers strike

Niger Areva uranium workers begin 72-hour strike, NIAMEY,  Jul 9,  (Reuters) – About 1,200 workers at Niger’s Akouta uranium mine owned by COMINAK, a subsidiary of France’s Areva, have began a 72-hour strike to demand higher wages, a union official said on Monday. Inoua Neino, secretary general of the SYNTRAMIN union, said production had stopped at the over 1,600 tonnes a year mine in the north of the west African nation after the workers downed tools.

“We embarked on a strike after our demand for a 3 percent raise in salaries, even though insignificant, was not met with satisfaction by management,” Neino told journalists.

“Workers did not go down into the mine today and if they are not down there, it means that there was no extraction, and if there was no extraction, there is no production,” he said.

The company was not immediately available for comment….. http://www.reuters.com/article/2012/07/09/niger-areva-strike-idUSL6E8I9CEF20120709

July 10, 2012 Posted by | employment, Niger, Uranium | Leave a comment

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