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Fukushima a disaster for the uranium industry

Today , in Fn Arena   Greg Peel reports that the Uranium Market is Becalmed. USA’s  Energy department is continuing to sell its uranium   the spot price continues to fall.

Uranium Prices Plummet in the Wake of Nuclear Explosions, Insane Planet May 1, 2011 By N. Solomon,   The Japan disaster has spelt a concomitant disaster to uranium prices as both spot prices as well as shares of uranium-mining companies crash. Uranium prices have suffered due to the explosions that happened in Japan and the attendant problems which are obvious to everyone, many countries in the world which had nuclear agendas especially as a means of power generation are either developing cold feet or planning to scrap the project is completely–and justifiably so.

As it stands, it is believed among investors that many countries are going to react to the radiation leaks that followed explosions at the Japanese Fukushima plant by enforcing tighter restrictions even if they do not take the alternative of completely abandoning the project. Either way, uranium prices will be forced down.

May 2, 2011 Posted by | business and costs, Uranium | Leave a comment

Radioactive for ONLY 300 YEARS, boast Thorium promoters

the waste would have to be stored for around 300 years or so, compared to tens of thousands of years for current reactors.

Only in the world of nuclear technology could a requirement for 300 years of dangerous waste storage be seen as an advantage.

No one talks about safe nuclear power because it doesn’t exist, Canberra Times, Dr Sue Wareham 28 Apr, 2011 , The heading on Julian Cribb’s glowing recommendation of thorium reactor research (April 26, p11) poses the question ”Why is no one talking about safe nuclear power?” The answer is that it doesn’t exist.

Cribb states that thorium reactors do not produce weapons grade material. This is misleading. Continue reading →

April 29, 2011 Posted by | 2 WORLD, technology, Uranium | Leave a comment

Centennial Project – uranium mining’s poor prospects

(USA) Powertech pauses uranium mine Company: Nuke disaster hurt industry, Centennial Project, Coloradoan.com , Apr. 27, 2011“…..The March 11 Tohoku earthquake in Japan and nuclear meltdown at the Fukushima Dai-ichi nuclear power plant that followed sent uranium prices plummeting….. “This is about as bad a story as you can imagine for the U.S. nuclear power industry,” said Charles Mason, True Chair of energy economics in the economics and finance department at the University of Wyoming, who is writing a book about uranium exploration and its impacts. “It certainly is bad news.”

Once it became clear the quake would lead to prolonged nuclear disaster, nuclear industry forecasters started to predict unhappy consequences for uranium prices….. Powertech’s current financial state could cast even more doubt on the future of the Centennial Project, according to the filing. Powertech said in its report that to maintain “a portion” of its interest in the Centennial Project, the company is required to make “significant” option payments in June.

April 29, 2011 Posted by | business and costs, Uranium, USA | Leave a comment

Thousands of kilos of depleted uranium to SAVE Libyans?

The use of D.U. constitutes a war crime and crime against humanity, just as poison gas and dumdum bullets were designated in their time. The Libyan people are the latest victims of this western inflicted plague.

Irradiate the Libyan people to save the Libyan people? How else could you describe the NATO attack on Libya? 

Depleted Uranium Used In Libya, Mathaba, By Thomas C. Mountain 15 April, 2011  NATO aircraft are routinely equipped with anti-armor missiles fitted with depleted uranium war heads. It has been widely reported that NATO has fired hundreds of anti-armor missiles in many parts of Libya, including in the immediate environs of the Libyan capital Tripoli. This means that thousands of kilos of depleted uranium have been used in Libya in the past weeks. Continue reading →

April 25, 2011 Posted by | depleted uranium, Libya, Uranium | Leave a comment

“Rare Earths” are radioactive, not so innocuous as they sound

why can’t the nuclear countries produce their own nuclear fuels in their own countries?  Unconfirmed reports have noted that some countries are dumping their nuclear wastes (rare earth included) in some third world countries under the guise of economic and scientific corporation!

(Malaysia) THE RARE EARTH CONTROVERSY, The Star,  by: cheaman, 25 April 11 What is ‘rare earth’? They are ‘actinide’ substances. So what are ‘actinides’, pray tell? Continue reading →

April 25, 2011 Posted by | ASIA, technology, Uranium | Leave a comment

Australian Aboriginal leader writes to UN about uranium mining

Yvonne Margarula’s letter to the UN expressing solidarity with the people of Fukushima , | Indymedia Australia, 16 Apr 2011 Below is a letter sent by Yvonne Margarula of the Mirrar people to Ban Ki Moon the Secretary General of the UN on the 6th of April 2011. The Mirrar are the traditional owners of the land that Ranger and Jabiluka Uranium mines are located on. These mines have been developed without the consent of the Mirrar people. The letter expresses solidarity with the people of Japan and sorrow that uraniun from the land of the Mirrar was used in the Fukushima plant. Continue reading →

April 16, 2011 Posted by | AUSTRALIA, indigenous issues, Uranium | Leave a comment

Citizens battle to save Grand Canyon from uranium mining

Razing Arizona? Citizens Fight to Protect the Grand Canyon from Uranium Mining, Change.org News by Jess Leber · April 04, 2011 Every year, 5 million tourists from all over the world flock to the Grand Canyon in Arizona, where they can view 2 billion years of geologic history in its glory.

Today, this national landmark is under threat. Continue reading →

April 7, 2011 Posted by | opposition to nuclear, Uranium, USA | Leave a comment

The uranium boom- over before it’s begun

virtually impossible to get new financing to develop projects for which there will be no economic justification. This will all be reflected in a slow, inexorable decline in share prices

The bull market in uranium is over, – MoneyWeek. By Dominic Frisby Mar 31, 2011 “The worldwide backlash against the nuclear power industry is only beginning to be felt and promises to deal a devastating blow long-term to the uranium stock sector. The catastrophic events in Japan were followed by a precipitous drop in uranium share prices, which have just had their obligatory dead cat bounce. Continue reading →

April 1, 2011 Posted by | 2 WORLD, business and costs, Uranium | Leave a comment

Virginia has new community organisation to stop uranium mining

Organization forms to push to keep ban on uranium mining | GoDanRiver.com, By John Crane, 28 march 11, A group of Pittsylvania County residents has formed a grassroots organization to oppose lifting the ban on uranium mining and milling in the commonwealth.
The citizens established Piedmont Residents in Defense of the Environment, a nonprofit, to be an environmental watchdog, monitor issues and hold government officials accountable for their actions, said PRIDE President Karen Maute.
“PRIDE will actively promote keeping the ban on uranium mining in Virginia and seek to empower the communities to bring awareness of other issues that have negative impact on citizen health, the environment and the economy,” the group stated in a news release……..
Organization forms to push to keep ban on uranium mining | GoDanRiver.com

March 29, 2011 Posted by | opposition to nuclear, Uranium, USA | 1 Comment

Vast area of uranium waste in Nevada

the towering waste piles, open pit lake and old leach ponds spread across an area the size of 3,000 football fields.

Polluted mine is back on feds’ list | Reno Gazette-Journal | rgj.com Scott Sonner, Associated Press  28 March 11, YERINGTON — Federal regulators who have spent a decade assessing the uranium and other toxic wastes seeping into the water table at an old Anaconda copper mine in Northern Nevada have concluded that the pollution can’t be cleaned up without adding the vast, abandoned site to the U.S. Superfund’s National Priorities List. Continue reading →

March 29, 2011 Posted by | Uranium, USA, wastes | Leave a comment

Uncertain future for nuclear-related industries

an accident or other significant event “could result in increased regulation, less public support for nuclear fueled energy, lower demand for uranium and lower uranium prices.”

Japan’s material adverse change: from financings to M&A | Financial Regulatory Forum   Reuters.com, by John Mackie, 28 March 11“………the business and legal communities cannot stand still, as they deal with several quite-unexpected ripple effects. Both M&A and capital markets transactions have suffered, and disclosure practices are now coming under review. Set against a backdrop of plummeting stock prices, companies in nuclear-related industries are caught in their own battle to sustain themselves………. Continue reading →

March 29, 2011 Posted by | 2 WORLD, business and costs, Uranium | Leave a comment

Shares in uranium likely to be doomed

Even more ominous in this new environment is the fact that storage pools for spent uranium rods are now recognized as a threat. Every reactor has one of these glowing pools, specifically because the world has not found a way to dispose of nuclear waste…..

the developed world will eventually turn very sharply away from nuclear energy and towards cheap and abundant natural gas…….

Is Uranium A Buy Again? Beware of These Radioactive Stocks ETF DAILY NEWS, byn George Wolff, 27 March 11, “………The industry’s future is “red hot” according to CBS Business News writer David Phillips. Cameco and other uranium miners are already spending heavily on the construction of new mines and processing facilities. They’re still scrambling in anticipation of the global nuclear boom which seemed so inevitable before the Japanese disaster……

But, in the wake of the Japanese crisis, I believe that the optimists touting a rebound in the nuclear industry are premature at best. At worst, they may be flogging a dead horse. Continue reading →

March 28, 2011 Posted by | 2 WORLD, business and costs, Uranium | Leave a comment

Russian nuclear czar – selling $6 billion enriched uranium to USA?

Rosatom Signs $2.8 Billion Contract to Enrich Uranium for U.S.  Bloomberg, By Ilya Khrennikov – Mar 26, 2011 Rosatom Corp., Russia’s government- owned nuclear holding company, agreed a contract valued at about $2.8 billion to supply enriched uranium to the U.S., Russian state-run newspaper Rossiyskaya Gazeta said, citing the company.The accord includes an option to double supplies, possibly boosting the value of the deal to $6 billion, Kommersant said in a separate report, citing Rosatom Chief Executive Officer Sergei Kirienko.….Rosatom Signs $2.8 Billion Contract to Enrich Uranium for U.S. – Bloomberg

March 28, 2011 Posted by | marketing, Russia, Uranium | Leave a comment

Uranium industry’s optimism doesn’t seem justified

insurance liability caps granted to the American nuclear power industry,  for example, produce an annual indirect subsidy of $33 million for every reactor in the United States…..liability costs to the Japanese government arising from Fukushima Daiichi, while still impossible to estimate, were presumably large, and might make other governments see that offering subsidies to renewable energy sources might be a comparative bargain…

Uranium Processor Still Optimistic About Nuclear Industry, NYTimes.com, By IAN AUSTEN : March 25, 2011 OTTAWA — On the same day earlier this month that the  Canadian company Cameco, a global leader in uranium mining and processing, gathered its executives from around the world for a strategic planning session, news broke of Japan’s staggering earthquake….. Continue reading →

March 26, 2011 Posted by | business and costs, Canada, Uranium | Leave a comment

first nuclear, then uranium, shares tumble

Nuclear sell-off sweeps to uranium mining, Financial Times, By William MacNamara in London,  March 20 2011 The sell-off slamming the nuclear power industry has swept to uranium mining, the source of nuclear fuel, with a range of miners’ shares opening this morning at least 15 per cent lower than levels preceding the earthquake in Japan.
Shares in Cameco, the major Canadian uranium producer, have fallen 20 per cent since March 10 despite Jerry Grandey, chief executive, saying that the impact of the Japanese nuclear crisis on the company’s sales would be “minimal”….

March 22, 2011 Posted by | business and costs, Uranium | Leave a comment

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