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
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
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
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
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
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
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
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”….
Uranium stocks in meltdown
Uranium stocks dumped after Japan crisis
http://news.ninemsn.com.au/article.aspx?id=8223706
Uranium miners hit by nuclear crisis | Japan
Bad timing for Australia to decide to sell uranium to Middle East
“It’s very poor judgement and poor timing to be proposing to sell this material into the Middle East when tensions are running so high,” said Scott Ludlam, an Australia senator for the Greens, a party affiliated with the government’s minority administration and set to hold the balance of power in the country’s top legislature from July 1. Mr. Ludlam said he wants the government to publish a list of the countries Australia won’t supply with uranium……….
Australia Eyes U.A.E. Uranium Talks, WSJ.com, Edna Curran, 9 March 11, “…..Bilateral talks between the countries will focus on nuclear safeguards and the use of nuclear fuel for Abu Dhabi’s civilian power program due to be ready by 2017, according to a statement by the Australian government……… Continue reading
Price dive for Uranium One’s product
Uranium One has year-end loss The Calgary Herald March 8, 2011 . Uranium One Inc. reported a fourth-quarter loss of $148.2 million on Tuesday, compared with a profit of $179.6 million in the same period a year earlier. It said the loss was due to a series of one-time expenses.
The company, based in Vancouver and Johannesburg, said the loss amounted to 24 cents a share, compared with a profit of 38 cents a share during the fourth quarter of 2009…….
Enriched Uranium cleanup sales cause price drop in uranium
Uranium Drops 4.7% After U.S. Approves Fuel Transfers, UxC Says, Bloomberg By Jason Scott – Mar 8, 2011 Uranium prices fell 4.7 percent after the U.S. authorized transfers of the nuclear fuel to fund accelerated cleanup operations at a former enrichment plant owned by the government, according to Ux Consulting Co.Uranium-oxide concentrate for immediate delivery traded at $66.50 a pound in the seven days ended yesterday, down from $69.75 the week before, UxC said in an e-mailed report today, based on the most competitive offer tracked by the Roswell, Georgia-based company…….
Iran to get uranium from Zimbabwe
Zimbabwe to sell uranium to Iran, Telegraph, bu Aislinn Laing, 6 Mar 11, Zimbabwe is to defy United Nations sanctions in a deal to sell uranium to Iran
Simbarashe Mumbengegwi, Zimbabwe‘s foreign minister, said the sanctions – which prohibit member states from providing Iran with raw materials that it could use to make a nuclear weapon – were unfair and hypocritical.
He said that Zimbabwe, which is also the subject of sanctions over human rights abuses perpetrated by President Robert Mugabe’s supporters, would benefit economically from the agreement.
A leaked intelligence report suggests Iran will be awarded with exclusive access to Zimbabwe’s uranium in return for providing the country with fuel……. Zimbabwe to sell uranium to Iran – Telegraph
5 to 9 percent drop in uranium price is expected
In analysis prepared for the department concluded that the average spot price for uranium could fall 4.9 to 8.9 percent during the period from the November 30, 2010
U.S. Energy Dept to sell surplus uranium Mar 3, 2011 WASHINGTON (Reuters), by Tom Doggett – The U.S. Energy Department plans to sell 2,000 tonnes of surplus uranium annually 2011-2013, which could push spot prices lower over the next three years…. Continue reading
Grudging recognition of cancers caused by radiation, among uranium workers
employees who worked outside of those dates still have to prove their cancer was caused by radiation at the plant….“They waited so long until almost everyone died,” Wytovak said.
They’re hoping for help in radiation case, Fuel Fix 3 March 2011, “…………“I thought it was a fertilizer plant,” said Wytovak, who discovered later during his 20 years at the plant that he had been part of an unwitting team extracting uranium for nuclear weapons. Continue reading
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