In a further indication of the uranium slump, Cameco (NYSE:CCJ, TSX:CCO) is suspending production at its Rabbit Lake operation in northern Saskatchewan and curtailing production at its US operations.
"What is new is the growing awareness of its implications for our nation, particularly in a highly competitive world economy in which the demand for minerals continues to grow, especially in fast growing economies led by China and India."
TSX- and JSE-listed First Uranium (TSX:FIU) (JSE:FUM) announced it will stick with an earlier announced deal to sell the Ezulwini gold and uranium operation to Chinese-owned Gold One, with shareholders due to decide on June 13.
World number one miner BHP Billiton on Monday bought five additional exploration plots near its giant Olympic Dam mine and expansion project, destined to become the world's largest open pit.
After steady gains throughout the morning Cameco Corp. was trading up 6% by lunchtime on Friday, after reports yesterday that its Kazakh join venture is planning to up output by a third. Gains for the year now top 20%.
Canadian mining company Quaterra Alaska and county supervisors in northern Arizona have filed a lawsuit against the US government, aiming to reverse a federal 20-year closure of one million acres of uranium-rich public lands located near the Grand Canyon.
One year after Japan’s Fukushima nuclear crisis, analysts are hiking ratings and price targets on uranium companies that have posted some impressive gains of late.
The International Monetary Fund increased its outlook for the world's economy on Tuesday, saying it expects global GDP to expand by 3.5 per cent this year.