AREVA’s uranium mining revenues fall
Areva 9-month revenues fall 3.5 pct,
By Caroline Jacobs and Christian Plumb PARIS, Oct 27 (Reuters) – French nuclear group Areva posted a 3.5 percent decline in nine-month sales on Thursday, squeezed by weakness in its uranium mining and waste-processing businesses.
Revenues reached 5.95 billion euros ($8.4 billion) and were down 1.5 percent on a like-for-like basis, state-owned Areva said in a statement. For the third-quarter alone, revenues fell 2.9 percent to 1.95 billion euros, Areva said, without providing details about specific business lines’ performance for the period…..
Since the nuclear disaster at Japan’s Fukushima power plant in March, order cancellations have been just 301 million euros, Areva said.
Countries such as Germany, Switzerland and Italy have shelved nuclear plans after the incident, but others such as Britain, Poland or the Czech Republic said they would go ahead with the construction of new plants.
Areva is assessing what consequences Fukushima will have on its business and will announce its five-year strategy plan in December….
http://www.reuters.com/article/2011/10/27/aereva-revenue-idUSL5E7LR5BZ20111027
A stop to new uranium mines near Grand Canyon
Obama to block new uranium mine claims near Grand Canyon, Miami Herald, 26 Oct 11, BY RENEE SCHOOF, WASHINGTON – New uranium mining claims on 1 million acres around the Grand Canyon will be blocked for 20 years under a decision the Bureau of Land Management announced Wednesday.
The announcement confirmed that the Obama administration was proceeding with a plan that Interior Secretary Ken Salazar announced in July and is expected to make final in 30 days. The decision withdraws a right to Western public lands that mining companies otherwise would have under the 1872 Mining Law. Continue reading
Security violations at facility for testing laser uranium enrichment technology
NRC fines GE-Hitachi $45K over NC nuke test site, October 21, 2011 Bloomberg By EMERY P. DALESIO, RALEIGH, N.C. The U.S. Nuclear Regulatory Commission has fined GE-Hitachi Nuclear Energy $45,000 for multiple security violations at a North Carolina facility using classified technology to test whether lasers can be used to enrich uranium. Continue reading
South Africa’s shame of radiation caused illness in uranium workers
Nuclear illness scourge, The new Age, Mel Frykberg, 20 Oct 11, Exposure to uranium at South African nuclear facilities over the years has left dozens of people dead and hundreds of others terminally ill, an investigation by The New Age has revealed. “These nuclear workers have been used and abused like cannon fodder and then abandoned without any care or compensation when they were no longer of any use to the nuclear industry,” said Mashile Phalane, the former coordinator of Earthlife Africa (ELA).
ELA and the Pelindaba Working Group – comprising ex-employees and antinuclear activists – are leading the battle to get compensation for victims. Former nuclear workers claim that they were not provided with protective clothing nor given the necessary medical attention when they were exposed to radiation.
Most claim they were given little or, in many cases, no financial compensation and in many cases were summarily dismissed once their symptoms became known. The country’s nuclear watchdog, the Nuclear Energy Corporation of South Africa (Necsa), stands accused by activists involved in the long-running campaign to ensure justice for victims and their families, of destroying the lives of hundreds of ex-employees.
Money talks louder than the public good, in the issue of uranium mining
Editorial: There’s green in that thar canyon The Daily Courier, 13 Oct 11, We smell something surrounding this week’s battle to open 1 million acres near the Grand Canyon for mining, and that something is political money.
In long run, Grand Canyon’s watershed must be saved from uranium mining contamination
the task of elected officials is not to just manage our county’s and city’s assets, but to thoroughly understand the complexities of our evolving human development. This involves managing our environmental resources to the best long-range benefit, and not for short-sighted, misperceived monetary gain.
Consequences outweigh benefits Kingman Daily Miner, Jack Ehrhardt, 14 Oct 11 Over the past months, stories have reported on how our local elected officials support the lifting of the moratorium on uranium mining in the Northern Arizona area, on the other side of the Grand Canyon. This area that is a watershed to the Grand Canyon is a sensitive area of environmental protection for its capacity to bring vast amounts of water to the storage downstream in Lake Mead and provide clean water to communities in the west. Continue reading
Through Google Earth, researcher tracks India’s nuclear program
Researcher Uses Google Earth to Track India’s Nuclear Program, PC World, By John Ribeiro, IDG News Oct 13, 2011 The Institute for Science and International Security in Washington has used imagery from Google Earth to arrive at the conclusion that India may be constructing a gas centrifuge plant for uranium enrichment for military purposes, reinforcing Indian fears that Google Earth can be misused to compromise national security. Continue reading
In water-scarce Australia, uranium miner BHP guzzles it for free
Public resources for private profit: free water for the largest open-pit mine in the world Coober Pedy Regional Times, by: Nectaria Calan, 13 Oct 11 In August mining giant BHP Billiton announced record financial results for the 2011 financial year, recording a total net profit of US$23.95 billion, nearly double its 2010 figure of US$13.01 billion.Keep moratorium on uranium mining at Virginia Beach, say officials
Virginia Beach officials want uranium mine ban extended, By Julian Walker The Virginian-Pilot, October 13, 2011 VIRGINIA BEACH Concerned that a proposed uranium mining operation could taint the city’s water supply, Virginia Beach officials want the state to maintain an existing moratorium on that activity for at least another year.
In a letter this week, the city’s water task force asked Mayor Will Sessoms and the City Council to urge the General Assembly to keep Virginia’s long-standing mining ban in place until at least 2013 and to delay related regulatory action. City officials are already on record opposing mining until they’re satisfied it won’t threaten Lake Gaston, a key drinking water source.
Some studies have said flooding near the mine could wash radioactive contaminants into tributaries that feed Lake Gaston, though a pro-mining analysis concluded that is highly unlikely. Forces for and against lifting the nearly three decade-old ban are bracing for a battle on the subject as early at the 2012 state legislative session. A National Academy of Sciences study on mining should be publicly released by then.
Virginia Uranium, the company that wants to extract ore from a Pittsylvania County uranium deposit, has actively lobbied officials as it pursues permission to mine, sending some to foreign countries to observe mines there. http://hamptonroads.com/2011/10/virginia-beach-officials-want-uranium-mine-ban-extended
Iran’s uranium enrichment offer should be accepted by USA
“These measures set out a foundation for diplomatic efforts focusing on establishing enhanced safeguards on Iran,” according to Vaez. He added that he thinks there is still “plenty of time” to strike a diplomatic accord.
U.S. Should Accept Iran’s Latest Uranium Enrichment Offer, Experts Say, Oct. 7, 2011 By Martin Matishak Global Security Newswire WASHINGTON — The United States should accept Iran’s offer to halt its production of higher-enriched uranium if provided equivalent material by Western powers as the first step in breaking the diplomatic standoff between the two countries, a new report by a pair of nonproliferation experts argues (seeGSN, Oct. 5). Continue reading
Deputy Director General of World Nuclear Association not optimistic about new uranium mines
with demand lower than was expected before, the price outlook is also down in both the medium and long-term..
It is clear that some of the anticipated new mines, heavily promoted by financial backers, will be ‘out of the money’—in other words, too expensive to develop in the new environment. Future uranium projects are very sensitive at prices in the $50 to $70 per pound level, and many may need more than $70 for viability.
Uranium – what are the prospects post-Fukushima?, Nuclear Engineering, Steve Kidd Deputy Director General of the World Nuclear Association, 06 October 2011“………..Falling uranium demand in the short-term is likely to delay some new projects, particularly those in Africa where financial requirements are heavy. But the reaction of producers will largely depend on the continuation of China’s new build programme and its willingness to finance new mines abroad. Continue reading
Down, down, into the abyss goes the uranium industry
Over the last month, these companies have lost between 25 and 29 percent, and they have lost between 57 and 84 percent so far this year. These significant losses proliferate uranium miners and producers, as can be seen from the Global X Uranium ETF (URA), which tracks the Solactive Uranium Index and is down over 60% so far this year…..
An Abysmal Month For Uranium Producers Extends Their 2011 Pain, Seeking Alpha 4 Oct 11, The uranium industry is not what it used to be, nor are the share values of the uranium producers. This may well go down as the worst year for uranium in the modern era, even though several nuclear power experts continue to claim that uranium use is sensible and safe.
This first quarter of 2011 started off with Japanese nuclear concerns following the destruction caused by the earthquake and tsunami that hit the nation, and uranium prices entered a tailspin shortly thereafter. In the wake of tsunami, Germany opted to discontinue nuclear power plant development and reveal plans to eventually eliminate nuclear power as an energy source.
It also appears likely that Japan may be hesitant to build more nuclear power plants in the near future. For many years, Japan and Germany have been significant users of nuclear power. This perceived vacuum to demand weakened the price of uranium. It also weakened the shares of those companies that produce and/or provide uranium…..
In the third quarter, which just ended last week, uranium and its producers continued to drop along with the broader market, only mostly to a broader extent as the investment was deemed more and more speculative. Most uranium producers ended the third quarter at their 2011 lows.
Below are the 1-month, 3-month, 6-month, and 2011-to-date performance rates for several companies that mine and/or provide uranium for energy production: Continue reading
Rio Tinto, uranium miners, and nuclear colonialism
situation isn’t all rosy for the multinational, which has long faced allegations of widespread environmental destruction and labor and human rights abuses in Africa, Asia and even the U.S.
Foreign control of metals and other natural resources in African and other developing countries is increasingly seen as a new form of colonialism, wherein locals work for relatively low wages and often in grueling, repressive conditions for companies that take most of the profit from the resources and labor out of the country.
Namibian Uranium Miners vs. Rio Tinto, IN THESE TIMES, BY KARI LYDERSEN, OCT 3, 2011 Namibian union uranium miners on strike against international mining giant Rio Tinto alleged in late September that a week into the strike, the company was violating mutually agreed upon conditions of the strike by hiring nonunion workers at its Rossing uranium mine.
Rio Tinto says it is not hiring nonunion workers and is demanding written proof from the Namibian Miners Union.
Miners have demanded payments of $2,557 (USD) each to end the strike over union allegations of unfair bonus payments and other grievances. Rio Tinto has asked the country’s labor court to rule that the union’s complaints are not grounds for a strike. Continue reading
UK cuts back on armed forces, spends up big on nuclear weapons
The huge sum, signed off with little parliamentary scrutiny, has raised questions over the accountability of AWE to the taxpayer and the MoD’s priorities
while all armed forces are suffering cuts, the UK’s nuclear weapons programme is benefiting from significant increases in spending, even before the government makes a decision on replacing Trident, the ballistic nuclear missile system.
Britain’s nuclear spending soars amid defence cuts Secret MoD report reveals £750m bill for enriched uranium plant as Liam Fox announces axing of 1,100 navy personnel. The Guardian, Jamie Doward, 2 October 2011, Government spending on Britain’s nuclear weapons programme is defying the swingeing budget cuts being experienced across Whitehall.
As the Ministry of Defence cuts frontline positions in the military, a previously confidential report reveals that the taxpayer is committed to paying almost £750m for the construction of a new enriched-uranium facility at the Atomic Weapons Establishment in Berkshire.The 32-page MoD report, Defence Equipment & Support … UK Enriched Uranium (EU) Capability Investment Appraisal, spells out the taxpayer’s commitment to funding Project Pegasus, which will replace the enriched-uranium facility built at the site in the 1950s. Continue reading
Double digit share price falls for uranium mining companies
Shares of Denison Mines and Uranium Resources Face Strong Downward Pressure, MarketWatch, NEW YORK, NY, Sep 30, 2011 (MARKETWIRE via COMTEX) –– Uranium stocks have struggled this month as prices for the radioactive material have plunged. According to the latest quarterly report by Resource Capital Research, uranium prices are down 27 per cent over the past three months and 23 per cent over the past year….
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