Germany’s Chancellor plans lithium deal with Serbia after Rio ruling
Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry.
Uranium miners could soon receive a boost from the end of Russia’s 1993 disarmament treaty that requires the nation to unload the radioactive material from discarded nuclear weapons, reveals a study published Wednesday by Five Star Equities.
The country, responsible for as much as 24 million pounds of uranium exports a year, will see the treaty expiring by the end of 2013, which opens the door to other players, says the report.
Canada’s Cameco Corporation (NYSE:CCJ)(TSX: CCO) holds, adds the study, premier land positions in the world’s most promising areas for new uranium discoveries in Canada and Australia as part of an intensive global exploration program.
Cameco is also a leading provider of processing services required to produce fuel for nuclear power plants, and generates 1,000 MW of clean electricity through a partnership in North America’s largest nuclear generating station located in Ontario, Canada.
Including the world class Phoenix deposits, located on its 60% owned Wheeler River project, Denison’s exploration project portfolio includes 32 projects and totals over 530,000 hectares in the Eastern Athabasca Basin region of Saskatchewan. The company’s net loss from continuing operations shrunk to $4.6 million for the fourth quarter of 2012, compared to a loss of $16.04 million a year ago.
The uranium industry continues to face an uphill climb since the Fukushima disaster shut down 48 of the 50 reactors in Japan.
Prices for the commodity have fallen roughly 70% since its peak in 2007, while a majority of minerals have experienced price increases.
Across the globe there are approximately 500 nuclear reactors that are either planned or under construction, which is more than double the number of reactors currently in use.
