Weekly Review: does uranium sector need more grunt?

It could be more impressive. The uranium sector, that is. Do you realise that there are only four companies with a market capitalisation over $1 billion (in Canadian dollars)? Cameco Corp (TSX:CCO) is way out front, worth $C7.78 billion (these figures were all compiled in November by Versant Partners and Capital IQ). Then it was quite a way back to Uranium One (TSX:UUU), worth $C2.46 billion. Then came Australia’s Extract Resources (ASX:EXT) with a market cap of

Could NRC Approval of Nuclear Plant Spark Global Nuclear Renaissance?

The State of Georgia has been granted approval to build two new nuclear reactors at the Vogtle nuclear power site located east of Atlanta. The power plant is owned by Georgia Power a subsidiary of Southern Company. Early this morning websites breaking the story such as the Atlanta Business Chronicle indicated that the decision to grant approval for this new nuclear build is being applauded by leaders in Georgia. State Governor Nathan Deal comments that this will

Weekly Review: Nuclear progress continues, but prices will rise slowly

It’s probably as good as one could hope for in the present climate: a prediction that the uranium market is “well-balanced”. This comes at a time when, at least, the uranium spot price is holding its own, unchanged this week at $US52/lb. There’s also some positive news: the Russians are to expand the Smolensk nuclear power station, Areva is pressing ahead with plans to build an enrichment plant in Idaho, and China says it will resume the

Experts Say Uranium Shortage by 2014: Reality, It’s Already Here?

It’s down to the wire with the Technology Metals Summit set to kick off tomorrow morning. The delegates and speakers have already started to arrive and the atmosphere is buzzing at the Hyatt Regency as Pro-Edge staff members are already on-site making sure the 2-day conference runs without a glitch. The business media -- namely Business News Network (BNN) -- is also following the rare earths markets. At 11:50 this morning as part of the Commodities show,

The Weekly Review: Uranium ground shifts in Western Australia

Uranium politics took a considerable shift this week in the state of Western Australia. The left-wing Labor party opened the door just a little. Not that it matters all that much because they’re unlikely to win the state election next year, and the pro-uranium Liberal government is well ahead in the polls. But - and no one has yet made this point - Labor has started to water down its anti-uranium mines policy, so that in the

U.S. EIA Forecasts Nuclear Demand to Outpace Growth

Received an email this morning from a reader who referenced a uranium industry update from equities research analyst Rob Chang...so busy with the Technology Metals Summit in less than 1 week and counting, but thought a few lines were warranted... The US Energy Information Administration has released the preliminary figures for its “Annual Energy Outlook 2012”. The data projects that total electricity consumption, including purchases from both electric power producers and on-site generators increases from 3,879 terawatt-hours

Germany's move away from nuclear power could potentially increase electricity bills by 20%

Shares of major uranium miner Cameco doubled from June 2010 to February 2011. Uranium juniors like UEX Corp. performed even better. UEXs shares rose 298% from May 2010 to February 2011. In the wake of the Fukushima Daiichi accident in Japan 10 months ago, Germany decided to shut down its nuclear power plants. Specifically, German legislators voted last May to decommission all of Germany’s nuclear reactors, 17 of which were built by Siemens and which provided up

Uranium prices better but maybe no Cigar (Lake)

Anything faintly cheerful about uranium is welcome these days. Now we have a report that goes one better than faintly but still expresses some reservations about the economics of upcoming new projects. From Sydney, the analysts at J.P. Morgan Securities Australia have just upped their price forecasts. This be a welcome relief to the industry as it watches the spot price struggle to make ground. This week the spot uranium price edged up a measly 50c to

Nuclear reactors - going smaller, quicker and cheaper

We could be less than 10 years away from commercially viable, small scale nuclear plants. More likely by 2025, though (although the Russians may be only a year or two away). That’s the view of Matt Robinson at Australia-based engineering consultancy WorleyParsons. The company is now engaged in nuclear projects in 18 countries and is providing design services for a US-based small modular reactor (SMR) company. As he writes in the latest bulletin from the Australian Uranium

As market momentum builds, juniors edge into spotlight

Like celebrity gossip burying financial news under the fold, the most significant players in the uranium market are rarely the ones making headlines. And the current Bernankes to uranium’s Kardashians are, without a doubt, the juniors. The 2012 global uranium discussion reached a fever pitch before the ball had finished dropping; combined with what could become an avalanche of lifted moratoriums, many are not only calling for the predicted bullish bounce of the uranium price but bracing

Game Changing Results at U308’s Berlin Flagship Project…Free Uranium?

On January 11, I interviewed Dr. Richard Spencer CEO Director of U308 Corp. (TSX.V: UWE), a Toronto-based company focused on the exploration and expansion of uranium and associated commodities in South America (click here). Dr. Spencer confirmed that initial tests at the company’s flagship Berlin project yielded metallurgical results for the recoveries of 97% uranium, 97% phosphate and 79% vanadium, exceeding the company’s expectations and making up two-thirds of the in situ value of the mineralized rock

Outstanding Metallurgical Recoveries from U3O8 Corp.: 97% Uranium, 97% Phosphate & 79% Vanadium

January 12, 2012 -- Outstanding metallurgical recoveries from U3O8 Corp.s (TSX.V: UWE) Berlin Project this morning includes 97% Uranium, 97% Phosphate, 79% Vanadium other rare earth metals (News Release). Dr. Richard Spencer, President CEO for U3O8 Corp. speaks with Tracy Weslosky, CEO for Pro-Edge Inc. who asks: You have a 20 million tonne (uranium) resource...would this not place you at a billion dollar market cap?...for more information, go to UraniumBlog.comDisclaimer: U3O8 Corp. is a paid advertiser for

Rain continues to plague Australian uranium mine

It once produced around 10 per cent of the world’s uranium, but the Ranger mine in northern Australia is going through a real bad patch right now. The mine’s operator, Energy Resources of Australia (ERA), had to close the processing plant in 2011 due to heavy rain; the close-down last from January 28 until June 15. And it looks as if the problems will continue into this year: after an usually high rainfall during the wet season

Calling all predators - uranium explorers may never be cheaper

If you have any plans to enlarge your uranium interests - and you have either readycash or still know a bank that is lending - this may be the time to go about it. Uranium spot pricescontinue to besubdued: they remained unchanged this week at $52/lb. For all the hand-wringing in Japan and Western Europe over nuclear power, the nuclear trajectory is upward. In terms of gigawatt hours, China’s reactor capacity is going to rise from about

Hand Grenades, Horseshoes and Selling Uranium Abroad

Let’s file this latest development under ‘What could possibly go wrong?’ India has announced it will axe its independent nuclear regulator and replace it with a government-controlled body, according to radioaustralia.net.au. The Atomic Energy Regulatory Board will be replaced with a straightforward safety authority answerable to government ministers, raising concerns it will suffer from government interference, according to the website. The idea that a clutch of government ministers can direct a regulator, and even sack its members,

South Korea Grapples with Its Own Nuclear Winter of Discontent

South Korea has yet another historic reason to dislike Japan – the anti-nuclear domino effect that the Fukushima Dai-ichi disaster has engendered amongst the radioactive-adverse populace. The government has selected two domestic sites for nuclear power plants ― Yeongdeok County of North Gyeongsang Province and Samcheok City of Gangwon Province. The two locations, both on the eastern coast, could be finalized by late next year, if they pass on-site inspections and environmental surveys, according to the Korea

Oregon Energy, a Malheur Uranium Investment and Shouts of Nimby

Here comes the next big not-in-my-backyard fight in the US uranium space. An Australia-owned company, Oregon Energy, wants to start digging in Oregon’s poorest county, one appropriately named Malheur, which is the French word for misfortune, bad luck or curse. Oregon Energy – the 100%-owned subsidiary of Energy Ventures Ltd. - hopes to extract at least 18 million pounds of uranium oxide from a 450-acre southeast Oregon site called the Aurora property, according to a story in

Nuclear Waste - Digging Deep To Reap Economic Benefit

There’s a movement afoot in Canada that could transform the future fortunes of some sleepy towns in the flat, middle part of the country. William Elliott, head of the economic development corporation serving the Elliot Lake region, sees the upside of something that usually provokes gut reactions of not-in-my-backyard – storing nuclear waste. Theres the obvious economic impact of 700 to 1,000 permanent fulltime jobs (and) $16 billion to $24 billion of direct investment, he says. Its

M&A Season Could Be Upon Us now that Inuit Lands to Open For Uranium Business

There are 35 uranium companies trudging around Labrador and Newfoundland looking for yellow cake - and celebrating this week now that a three-year moratorium on uranium mining activities on Inuit lands will be lifted in March 2012. Let the consolidation game begin. There are two companies that are perhaps emblematic of the uranium space – one domestic and one international, which bought into the area late last year in anticipation that the ban would soon be lifted.