Study finds Fredericksburg uranium sites not commercially viable
Uranium report says local sites not viable, Fredricksburg.com, By RUSTY DENNEN, 19 Dec 11 Uranium mining and milling in Virginia would present human health and safety and environmental risks, which could be mitigated with best-management practices, according to a long-awaited National Academy of Sciences study released Monday.
And, of interest to the Fredericksburg area, it concludes that only Virginia Uranium’s proposed Coles Hill site in Pittsylvania County would be commercially viable among Virginia deposits, for now. The site is about 180 miles southwest of Fredericksburg. Continue reading
USA and North Korea were close to agreement on uranium enrichment
U.S. will trade food for uranium agreement from North Korea, Negotiations yield several advances Detroit Free Press, Dec. 19, 2011 The U.S. is poised to announce a significant donation of food aid to North Korea this week, the first concrete accomplishment after months of behind-the-scenes diplomatic contacts between the two wartime enemies. An agreement by North Korea to suspend its controversial uranium enrichment program will likely follow within days.
A broad outline of the emerging agreement has been made known to the Associated Press by people close to the negotiations.
Discussions have been taking place since summer in New York, Geneva, Switzerland, and Beijing. They already have yielded agreements by North Korea to suspend nuclear and ballistic missile testing, readmit international nuclear inspectors expelled in 2009, and resume adialogue between North Korea and South Korea, according to the people,
who spoke on condition of anonymity because of sensitivity of the negotiations…..
http://www.freep.com/article/20111219/NEWS07/112190328/U-S-will-trade-food-uranium-agreement-from-North-Korea?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cs
China might not save the nuclear industry, as they had hoped
Even before Fukushima, China’s government was asking tough questions of its nuclear growth ambitions. Late last year, its State Council Research Office issued a report outlining a number of concerns about the expansion program.
Since Fukushima, China’s government has pressed the pause button on nuclear expansion
the new generation AP1000 reactors that make up a large portion of the proposed nuclear capacity are not yet in operation anywhere in the world. It is an as yet unproven technology
there is reason for the people of China to be asking questions about the country’s ability to deliver large-scale, hi-tech projects as memories of July’s tragic Wenzhou high-speed rail crash, in which 40 passengers died, are still fresh in their minds….. Nuclear will remain a fringe source of power in China
China’s nuclear ambitions move to the slow lane, BY: PAUL GARVEY , The Australian, December 19, 2011 CHINA has been the one ray of hope in a miserable year for the global uranium industry. But sadly for uranium stocks, it looks increasingly likely China’s substantial nuclear reactor development program will take much longer to roll out than planned.
With the nuclear industry under review across Europe and Japan in the wake of the Fukushima disaster earlier this year, China has represented one of the only, and certainly the largest, growth market for uranium. Continue reading
Huge share price falls for uranium companies over past 2 years
Fukushima affects uranium stocks, Star Tribune, 18 DecShare prices of global uranium majors continue to suffer the aftereffects of an earthquake and tsunami that rocked Japan’s Fukushima nuclear power plant last March.
That’s the assessment of Sydney, Australia-based Resource Capital Research, which noted share prices for selected companies have declined substantially.
An analysis noted that Cameco shares declined by nearly 50 percent over the past year, while Uranium One shares had dropped by nearly 45 percent. Energy Resources of Australia stock fell by 82.1 percent.
“The Merril Lynch Uranium Equity Index (a global basket of uranium equities) is down 2 percent over the past month, down 7 percent over three months and down 54 percent over the past 12 months,” the firm said in a report earlier this month. …..
The uranium spot price was pegged at $52.25, down from $67.75 prior to the Fukushima disaster. In the near-term, Resource Capital Research said Fukushima will continue to weigh on the market, “including Germany’s decision to close reactors and the potential for disposal of surplus utility inventory.”…..
Stop uranium exploration and all nuclear activities, demand Northern Quebec communities
Northern Quebec Communities Demand End of Uranium Prospecting by
Uracan, MarketWatch, Dec. 18, 2011 “…..All eight municipalities in Minganie, a
region of Northern Quebec, have already voted in favour of a resolution against uranium prospecting on their territory. On November 23rd, the Regional County Municipality of Minganie also adopted a resolution outlawing all uranium-related activities within an area of
50 kilometers north of the coastline. Clearly, there is no social support for uranium mining in Minganie.
Uracan’s drilling sites are located in the area covered by the resolution. This is why we ask that Minister Gignac act immediately and tell Uracan to pack its bags and leave. We will not tolerate more drilling. We demand that the company cease all its activities and move its installations, equipment and machineries elsewhere. If it fails to do so, actions will be taken.
We also ask that Uracan provide compensation to those who have been negatively affected by its activities. Continue reading
two year continuing fall in uranium companies’ share prices
Fukushima affects uranium stocks, Star Tribune, 18 DecShare prices of global uranium majors continue to suffer the aftereffects of an earthquake and tsunami that rocked Japan’s Fukushima nuclear power plant last March.
That’s the assessment of Sydney, Australia-based Resource Capital Research, which noted share prices for selected companies have declined substantially.
An analysis noted that Cameco shares declined by nearly 50 percent over the past year, while Uranium One shares had dropped by nearly 45 percent. Energy Resources of Australia stock fell by 82.1 percent.
“The Merril Lynch Uranium Equity Index (a global basket of uranium equities) is down 2 percent over the past month, down 7 percent over three months and down 54 percent over the past 12 months,” the firm said in a report earlier this month. …..
The uranium spot price was pegged at $52.25, down from $67.75 prior to the Fukushima disaster. In the near-term, Resource Capital Research said Fukushima will continue to weigh on the market, “including Germany’s decision to
close reactors and the potential for disposal of surplus utility inventory.”…..
Three major companies stepping back from uranium mining
After Fukushima, suddenly the expected darling of local mining investment, has turned into a pariah. Both the Areva and Marenica statements refer to events after Fukushima, highlighting the uncertainty that has entered the industry since the nuclear disaster in Japan……
Perhaps it is a case of both Kalahari Mineral and Extract Resources taking what they can get and opting out of an industry that is fast turning into a lame duck. [or a dead cat – I haven’t got a picture of a lame duck]
Namibia Economist 16 Dec 11 When three major players in one industry, all announce substantial shifts in strategy and/or focus in a very short span, it signals a fundamental change in the underlying assumptions. These past two weeks saw one surprise after another as first Extract Resources, then Marenica, and finally Areva announced a dramatic turn in their strategies which probably points to a change of heart and a significant reappraisal of prospects and strategies. Continue reading
Uranium in surplus, prices to stay low
Resource Capital Research — December Quarter 2011: Global Uranium Companies Equity Research Report , Dec 16, 2011 (MARKETWIRE via COMTEX) — Key Points
…Uranium Market: The dynamics driving the near term outlook remain
dominated by the
flow-on effects of Fukushima, including Germany’s decision to close
reactors.
— Uranium traders suggest caution going into 1H12, with potential for
utility surplus inventory dispositions to remain a feature of the
market. The spot uranium price is expected to trade around the low
US$50s/lb 1Q12 and possibly dip below.
Company pulls out of uranium milling project in Colorado
Cotter Corp. won’t try to rebuild uranium milling program in Cañon City, must move toward final clean up 12/16/2011 By Bruce Finley The Denver Post Cotter Corp. has decided it is “no longer economic” to process uranium at its contaminated Colorado uranium mill and will move toward clean-up of the site next to Cañon City along the Arkansas River.
A letter from Cotter president Amory Quinn says Cotter “will not seek to renew” the radioactive materials license Cotter has from the state health department. Cotter plans to decommission and decontaminate the mill site and to request license termination, Quinn said in the Dec. 12 letter. http://www.denverpost.com/recommended/ci_19562999#ixzz1gp8Ndp4u
AREVA’s loss making uranium projects halted, in Africa and USA
Areva halts Trekkopje uranium development, The Namibian, By: JO-MARÉ DUDDY, 14 Dec 11 AREVA yesterday said it was putting its investment in the US$1 billion Trekkopje uranium project on hold as the French nuclear fuel and services giant braced itself for a worldwide loss of up to US$2 billion for 2011.
Central to Areva’s financial woes is a provision for an asset write-down of US$1,97 billion for property and equipment at its UraMin operations, which include Trekoppje as well as Bakouma in the Central African Republic and Ryst Kuil in South Africa.
In addition, state-owned Areva slashed its uranium resource estimates at Trekkopje by nearly 42 per cent. ….
The company’s investment freeze also includes shelving a controversial nuclear enrichment plant project in Idaho in the US. Areva would cut its total investments by 34 per cent over the 2012-16 period, compared to the period 2007-11, Oursel said.
Shrinking nuclear and uranium markets add to AREVA’s woes
The company has lost contracts worth hundreds of millions of euros….The company says its earnings will be
hit by a reduction in the number of new reactors being built, which will also depress the price of uranium…
.. the market is now shrinking. Areva said it expects to make an operating loss of between 1.4 and 1.6 billion euros (1.9 and 2.1 billion dollars) in 2011 mainly due to the depreciation of African mining assets…..
all activities in Namibia are to be suspended….
Fukushima hits French nuclear giant hard, Monsters and Critics, By Ralf E Krueger Dec 13, 2011“……….Areva’s new chief executive Luc Oursel announced the suspension of a planned nuclear enrichment plant project in Idaho in the United States, as well as several projects in Africa. Areva has also suspended plans to expand capacity at its reprocessing plant in La Hague, northern France. Continue reading
Potential for environmental catastrophe with uranium mining in Pittsylvania
digging up and processing the uranium will create 28 million tons of radioactive waste – enough to fill 145 Super Walmart stores – that could poison local wells and seep into the Roanoke River, contaminating the drinking water for nearly 2 million people downstream of the mine.
A study by the U.S. Environmental Protection Agency found that the dust from uranium mines can spread up to 50 miles, which would include Smith Mountain Lake and parts of the Roanoke Valley.
Uranium in Pittsylvania County: buried treasure or threat?, By Laurence Hammack and Michael Sluss The Roanoke Times, 13 Dec 11“….. a potential public health and environmental disaster. Do the risks of uranium mining outweigh the benefits? That will soon be a question for the General Assembly, which is expected to decide at its upcoming session whether to lift a 30-year moratorium on the practice. Continue reading
Another blow to AREVA in poor outlook for uranium mine
UraMin deal was a wager on new power stations Financial Times, By David Blackwell, 14 Dec11“…..Areva’s purchase of UraMin was a long-term bet that power stations would be built around the world to meet concerns about energy security and climate change – as new reactors typically require a lot more uranium than those that have been in operation for some time.
Even before this year’s Fukushima disaster in Japan, Areva’s willingness to pay such a premium was in question as the price of unenriched “yellow-cake” uranium fell to $70 a pound, from $138 a pound around the time of the acquisition.
Since Fukushima, the price has fallen even further to about $50 a pound. Coupled with Monday’s announcement that deposits at UraMin’s mines were far smaller than expected, Areva has taken a hit – both to its balance sheet and to a mining business that accounted for 40 percent of its capital spending between 2007 and
2011….http://www.ft.com/cms/s/0/6506add8-2592-11e1-9cb0-00144feabdc0.html#axzz1gWdl0WlU
Uranium term prices going down
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show details 5:57 PM (23 hours ago)
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Uranium Term Prices SlipFN Arena News – 6 Dec 11 Industry consultant TradeTech closed out its spot price indicator for November month-end at US$51.50/lb, down US25c from end-October. …
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http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=0AEAA152-E77F-D8D8-A68F8FD0269D888A
Disastrous effects of uranium mining on health of Jharkhand’s people
the financial benefits are meaningless when weighed against what his group says is an alarming rise in stillbirths, birth defects, and adults and children diagnosed with cancer, kidney disease, and tuberculosis.
report showed a far greater incidence of congenital abnormality, sterility, and cancer among people living within 2.5 kilometres (1.5 miles) of the mines than those living 35 kilometres away. Mothers in villages close to the mine sites were also twice as likely to have a child with congenital deformities,
India’s uranium mines cast a health shadow,Google News, By Ammu Kannampilly (AFP), 5 Dec 11, ”… Environmental groups say the mining company is polluting the groundwater by dumping radioactive waste inside three so-called tailings ponds that hold the sludge produced by the mining process ….. Continue reading
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