Nuclear fuel plant unable to get loan guarantee
‘Crunch time’ at troubled nuclear fuel plant Washington Post By Steven Mufson, January 13 U.S. Enrichment Corp., which produces fuel for nuclear power plants, is having its own sort of meltdown.
Disillusioned investors have wiped out 95 percent of the company’s market value since 2007. Standard & Poor’s has saddled it with a dismal CCC-plus credit rating. Continue reading
An “under-performing investment” – Cameco uranium company
Cameco (CCJ) Downgraded by Zacks Investment Research to “Underperform”, Localised USA, Jan 10th, 2012 Cameco (NYSE: CCJ) was downgraded by equities research analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday.
Cameco Corporation (Cameco) is a Canada-based company. The Company and its subsidiaries are primarily engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. Cameco has three reportable segments: uranium, fuel services and electricity.
The company has a 31.6% interest in Bruce Power L.P. (BPLP). Cameco’s uranium joint venture interests are comprised of McArthur River, Rabbit Lake, Cree Extension Millenium, Moon Lake, Dawn Lake, Read Lake and Virgin River. Cameco’s projects include Kintyre Uranium Exploration Project (Kintyre) and GoviEx Uranium (GoviEx). Kintyre project is located in the East Pilbara region of Western Australia. Cameco holds 12% interest in GoviEx. Its wholly owned subsidiary is Global Laser Enrichment LLC (GLE).
Iran enriching uranium at underground site
UN nuclear agency confirms Iranian uranium enrichment at bunker, increasing nuke fears, Washington Post, 8 Jan 12 VIENNA — The U.N. nuclear agency on Monday confirmed that Iran has begun enriching uranium at an underground bunker to a level that can be upgraded more quickly for use in a nuclear weapon than the nation’s main enriched stockpile….. http://www.washingtonpost.com/world/middle-east/diplomats-confirm-new-iranian-uranium-enrichment-say-work-increases-nuke-fears/2012/01/09/gIQAZFN1kP_story.html
Depleted uranium has wreaked havoc on health in Iraq
The US and UK militaries have sent mixed signals about the effects of depleted uranium, but Iraqi doctors like Alwachi and Alani, and along with researchers, blame the increasing cancer and birth defect rates on the weapon.
Abdulhaq Al-Ani, author of Uranium in Iraq, has been researching the effects of depleted uranium on Iraqis since 1991. He told Al Jazeera he personally measured radiation levels in the city of Kerbala, as well as in Basra, and his Geiger counter was “screaming” because “the indicator went beyond the range”.
Fallujah babies: Under a new kind of siege, Doctors and residents blame US weapons for catastrophic levels of birth defects in Fallujah’s newborns, Al Jazeera, Dahr Jamail 06 Jan 2012 Fallujah, Iraq – While the US military has formally withdrawn from Iraq, doctors and residents of Fallujah are blaming weapons like depleted uranium and white phosphorous used during two devastating US attacks on Fallujah in 2004 for what are being described as “catastrophic” levels of birth defects and abnormalities.
Dr Samira Alani, a paediatric specialist at Fallujah General Hospital, has taken a personal interest in investigating an explosion of congenital abnormalities that have mushroomed in the wake of the US sieges since 2005. ”We have all kinds of defects now, ranging from congenital heart disease to severe physical abnormalities, both in numbers you cannot imagine,” Alani told Al Jazeera at her office in the hospital, while showing countless photos of shocking birth defects.
As of December 21, Alani, who has worked at the hospital since 1997, told Al Jazeera she had personally logged 677 cases of birth defects since October 2009. Just eight days later when Al Jazeera visited the city on December 29, that number had already risen to 699. Continue reading
New uranium mining banned near Grand Canyon
U.S. to Ban New Uranium Mining Near Grand Canyon, NYT, 6 Jan 12, By JOHN M. BRODER Interior Secretary Ken Salazar is expected to announce on Monday that he has approved a 20-year moratorium on new uranium mining claims in a million-acre buffer zone around the Grand Canyon.
The decision, which has been under consideration for nearly two years, would allow a small number of existing uranium and other hard rock mining operations in the region to continue while barring the new claims. In 2009 Mr. Salazar suspended new uranium claims on public lands surrounding the Grand Canyon for two years, overturning a Bush administration policy that encouraged thousands of new claims when the price of uranium soared in 2006 and 2007.
Many of the stakeholders are foreign interests, including Rosatom, Russia’s state atomic energy corporation.
The Interior Department took public comment and prepared an environmental impact statement before deciding to extend the moratorium for another 20 years…. http://green.blogs.nytimes.com/2012/01/06/u-s-to-ban-new-uranium-mining-near-grand-canyon/
Uranium mining in Africa on a downward spiral
The signals of a troubled uranium sector are manifest. On Tuesday Areva wrote down the performance of its African mines, including Trekkopje and suspended further development.
Fukushima still haunts uranium producers, The Southern Times, South Africa, 30 Dec 11 International prices of uranium, the major feedstock in nuclear reactors, have remained flat; averaging US$53 per pound as the market struggles to shrug off the effects of Japan’s nuclear crisis earlier this year.
Market analysts are warning that shrinking order books, a flat spot price and production cutbacks – largely attributable to the Fukushima disaster – will haunt uranium producers well into 2012.
A sluggish US economy and sovereign debt problems in advanced economies will continue to severely impact the uranium spot price. Global uranium stocks have significantly underperformed during 2011 and analysts attribute this to the diminishing appetite for nuclear energy after the horror of Fukushima. Continue reading
Virginia delegate will vote to keep ban on uranium mining
Virginia delegate to vote no on lifting uranium mining moratorium WDBJ7.com, Justin Ward, January 5, 2012 DANVILLE, Va.— The first Virginia lawmaker to announce his vote on the uranium mining ban says his colleagues should consider his decision.
Delegate Don Merricks says he will vote against lifting the ban on uranium mining.
The proposal is expected to be introduced during the upcoming general assembly. Merricks says he’s read the studies but wants another year to research more site specific studies.
“I can not in good conscience vote to life the ban on this when there’s so many unknowns. We still have to narrow down and get focused and we got to get serious about what’s going to happen,” said 16th District Delegate Don Merricks.
Three studies about the socioeconomic and environmental impacts have been released but Merricks says none of them give him concrete answers to support mining in Pittsylvania County. http://www.wdbj7.com/news/blogs/wdbj7-virginia-delegate-will-vote-no-on-lifting-moratorium-on-uranium-mining-20120105,0,2566980.story
Virginia Uranium seeks public subsidy to cover long term damage
Virginia Uranium is seeking a public subsidy to cover the risks associated with their venture. This could result in a scenario not unlike the recent public bailout that covered the sub-prime loan risks taken by mortgage banks.
Uranium offers short-term boost, long-term risks, Star-Tribune Peter Hairston January 4, The long-awaited National Research Council, or NRC, report on uranium mining in Virginia concludes, as one could expect, that there are benefits and risks to uranium mining.
The potential public benefits to the Pittsylvania County region have been estimated and extensively publicized. What has not been given due attention in the NRC report or in public discourse is the allocation of the public risks in relation to the potential private benefits.
When this is considered in light of the basic, conservative principles of free market economics, it is clear that current uranium mining plans will result in the public bearing the principal risks, while the mining company gains the principal profits. Continue reading
Risk of radioactive uranium pollution on indigenous Americans’ land and water
Uranium Mining Could Leave Toxic Waste in Occoquan Watershed LakeRidge-Occoquan Patch. 31 Dec 11 The Fairfax County Water Authority assesses the risks of uranium mining in Virginia.Lifting Virginia’s ban on uranium mining could open the door to toxic and radioactive waste in the Potomac and Occoquan Watersheds, according to a recent study by the Fairfax County Water Authority.
Though mineral mining occurs throughout the U.S. near water supplies, the study said, “Uranium mining and milling represent unique risks that require additional process controls to prevent impacts from toxic and radioactive byproducts.”…. “uranium mining and milling activities initiated in the Potomac and/or Occoquan watersheds have the potential to increase the risk of negative impacts to Fairfax Water’s source water quality and water supply reliability.”
The Washington Post reported that the National Academy of Sciences and the National Academy of Engineering also found that “steep hurdles” would need to be crossed before the ban should be lifted.
“A study commissioned by the Danville Regional Foundation also came out this month,” the Post article read. “It concluded that uranium mining could have economic benefits but also environmental risks.” http://lakeridge.patch.com/articles/uranium-mining-could-leave-toxic-waste-in-occoquan-watershed
Uranium’s radiation danger: Port Hope and Huntington
“Contrary to statements provided by federal government agencies, no level of radiation is safe and it is cumulative — each dose adds to the risk of cancer. Children are 10 to 20 times more radiosensitive than adults, and fetuses are extremely sensitive,”
Port Hope Uranium Plant Contamination Circumstances Contain Similarities to Huntington’s Buried Uranium Plant, December 29, 2011 BY TONY RUTHERFORD HUNTINGTON NEWS Port Hope has a water treatment plant supplying its drinking water. Incredibly, adjacent to this water treatment plant, is a huge factory which emits uranium gas and dust into the air and Lake Ontario. Continue reading
Virginia business and medical professionals concerned about uranium mining
the group is different from environmental groups in that it comprises business, medical and health professionals who are concerned about potential health impacts from uranium mining.
Coalition forms to address uranium concerns By: TARA BOZICK | GoDanRiver.com December 29, 2011 Halifax County area business owners and other professionals formed The Virginia Coalition on Tuesday in an effort to keep the moratorium on uranium mining in Virginia.
Many felt the socioeconomic reports and National Academy of Sciences study on uranium mining released this month didn’t allay concerns about potential health risks. The General Assembly could take up the issue of whether to allow uranium mining next session, although
opponents and local lawmakers would like to wait until 2013. Continue reading
Uranium mining harmful to Tanzania, benefits only foreign investors
companies mining uranium had never solved problems associated with extraction of the minerals and also they had never employed good way of settling remains of the minerals after the mining activity is complete.
that mining activities benefited more investors than Tanzanians.
“Take an example of Niger, they are now suffering from the impacts of uranium extraction, including high levels of environmental degradation,”
PP Media 28 Dec 11, “………The Legal and Human Rights Centre Legal Officer in-charge of Corporate and Environment Flaviana Charles says the metal posses dangers not only to human beings but to animals and environment.
Already companies including Mantra (T) and Uranex (T) limited are exploring the minerals in various parts including Namtumbo (Mkuju River Project) Bahi and Manyoni, a move which has been criticised by majority of the members of public including legislators.
“We have decided to take the initiative to raise awareness to the public on this new mineral expected to start being mined in the country,” says Charles. Continue reading
Secrecy as Canada transports weapons grade uranium to USA
Canada shipping bomb-grade uranium to U.S.: memo Andy Blatchford, The Canadian Press, 27 Dec 11 MONTREAL — Weapons-grade uranium is quietly being transported within Canada, and into the United States, in shipments the country’s nuclear watchdog wants to keep cloaked in secrecy. Continue reading
Big money pushing for Virginia uranium, rather than water safety
Virginia. election, uranium’s future among the top political, government stories of 2012, Washingtn Post, 25 Dec 11 RICHMOND, Va. — The list of top stories includes whether money can speak loudly enough to open Virginia to uranium mining despite serious environmental concerns and whether the Republican right rules all of Virginia policymaking…..
A long-awaited independent study by the National Academy of Sciences in December raised serious concerns about whether a massive uranium ore deposit can be safely mined and milled in Pittsylvania County…..
It’s up to the Virginia General Assembly to weigh the appeal of an economic boom in 
Southside Virginia — an area hit hard by declines in the textile, furniture and tobacco industries — against the prospect of contaminating water supplies for huge areas of Virginia and North Carolina.
The deep-pockets consortium of investors and corporations eager to recover the 119-million-pound deposit has hired Capitol Square’s most expensive and influential lobbyists to shepherd legislation to end a 30-year uranium mining ban through a deeply divided House and Senate.
This is one of those issues more likely to create geographic divisions than partisan ones…..
http://www.washingtonpost.com/local/va-at-elections-forefront-can-republicans-really-rule-uraniums-future-the-stories-of-2012/2011/12/25/gIQA9RjEHP_story.html
Report on uranium mining and milling in Virginia
Highlights of National Academy of Sciences’ report on uranium mining and milling in Virginia
Uranium report says local sites not viable Fredricksburg.com, By RUSTY DENNEN, 19 Dec 11“.……Virginia Uranium Inc.’s Coles Hill site in Pittsylvania County is the only commercially viable site in the state. Uranium mining and processing carries with it a wide range of
potential adverse human health risks.
A detailed assessment of both the potential site and its surrounding area (including natural, historical and social characteristics) would be needed.
It is not yet possible to predict what specific type of uranium mining or processing might apply to ore deposits in Virginia. A mining project could affect surface water quality and quantity, groundwater quality and quantity, soils, air quality and organisms in
the vicinity.
Because of the 1982 moratorium, the state has no experience regulating uranium mining and there is no regulatory infrastructure. Planning should take into account all aspects of the process—including the eventual closure, site remediation and reclamation—prior to initiation of a project, and there should be opportunities for publicinvolvement throughout.
For more on the report, nationalacademies.org —National Research Council of the National Academies http://blogs.fredericksburg.com/newsdesk/2011/12/19/uranium-report-says-local-sites-not-viable/
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