With prices set to double by 2018, we've seen the bottom of the uranium market, and the negative sentiment that has followed this resource around despite strong fundamentals, is starting to change.
South Australia’s mineral resources and energy minister, Tom Koutsantonis, said he was confident BHP Billiton will proceed with developing the uranium Olympic Dam open-pit mine, despite the project will cost billions of dollars, reports Reuters.
Cameco Corp. (TSX: CCO; NYSE: CCJ), Canada’s largest uranium company, said it agreed to buy Areva Resources Canada’s 27.94% stake in the northern Saskatchewan-based Millennium project for $150 million. With this acquisition Cameco becomes the majority holder in the proposed uranium mine.
The U.S. Nuclear Energy Institute and the National Mining Association (NMA) are demanding the Obama administration to revoke a ban on new uranium mining around the Grand Canyon in Arizona. And they are doing so by suing the U.S. Interior Department, as the organizations announced yesterday.
An Australian explorer said today that one of Africa’s most prolific uranium plays is shaking off the tag that it was the uranium province that was missed and is starting to emerge as a potentially significant greenfields province.
According to a recent report generated by the Ontario Ministry of Tourism and Culture, the Prospectors and Developers Association of Canada's (PDAC) Convention contributed nearly $72 million to Toronto's economy in 2011.
Rising costs could make any interested buyer baulk at the idea though. Cash costs in South Africa at its Ezulweni mine has rocketed to $2,143/oz and were up 20% at Mine Waste Solutions although at $613/oz there you could still turn a profit .
Uranium exploration in Australia’s eastern state of New South Wales (NSW) may soon become a reality after Premier Barry O'Farrell's cabinet checked off on a proposal to reverse a 26-year-old ban, reports the Sydney Morning Herald.