Uranium and Nuclear Power Industry – Page 11

Top 10 Uranium Mines in the World (Updated 2023) – by Melissa Pistilli (Investment News Network – October 24, 2023)

November 17, 2023

In 2022, world uranium mine production came to 58,201 metric tons (MT) of U3O8. Kazakhstan was the top-producing country by far at 21,227 MT, followed by Canada at 7,351 MT and Namibia at 5,613 MT. Together, those three nations accounted for nearly 59 percent of global uranium production, with Kazakhstan alone accounting for more than a third at 36.47 percent.

Unsurprisingly, many of the world’s top uranium mines are located in Kazakhstan, Canada and Namibia. But that’s not the case for all of the largest uranium mines. To give investors a better idea of where the top uranium mines are located, the Investing News Network has put together a list of the 10 biggest uranium mines in the world by 2022 production, based on the latest statistics from the World Nuclear Association (WNA). Read on to learn more about uranium mines, plus uranium reserves and uranium exploration.

Proposed northern Sask. uranium mine, mill one step closer to becoming reality – by Cole Davenport (CTV News Saskatoon – November 10, 2023)

November 14, 2023

https://saskatoon.ctvnews.ca/

A major uranium project in northwestern Saskatchewan has cleared a significant regulatory hurdle. NexGen Energy said Thursday that its proposed uranium mine and mill to be built on the Athabasca Basin north of La Loche known as “Rook I” was granted full approval after an environmental assessment carried out by provincial officials.

“Throughout the rigorous [environmental assessment] process, the Government of Saskatchewan recognized the unparalleled value and future opportunities the Rook I Project will provide for local communities, Saskatchewan, and Canada,” NexGen CEO Leigh Curyer said in a release.

Macron is shopping for uranium in Kazakhstan after the loss of Niger – by Jan van der Made (RFI France – November 1, 2023)

November 3, 2023

https://www.rfi.fr/en/

Oil-rich Kazakhstan has already emerged as a replacement supplier of crude to European nations turning off Russian supply and an important link in the new China-Europe trade route bypassing Russia. At a meeting with Kazakh President Kassym-Jomart Tokayev, Macron complimented Astana for refusing to side with Moscow on Ukraine and said the two countries planned to sign significant business deals.

“We will be able to make progress on important international matters, underscore our commitment to the United Nations charter and principles such as territorial integrity and national sovereignty,” he said through an interpreter. But Kazakhstan mainly attracted Macron’s attention because of its vast uranium resources.

The 10 Largest Uranium Mines In The World (World Atlas – October 22, 2023)

October 24, 2023

https://www.worldatlas.com/

If one were to ask an average person the question, “What do you know about uranium?”, their response would probably be, “It is a mineral used for fuel in nuclear power plants.” While this statement is technically true, the role of uranium in global power generation is somewhat more complex than that. So, what precisely is uranium? And beyond that, where does it come from?

To begin with, uranium is a mildly radioactive, metallic chemical element. It is represented by the symbol “U on the periodic table and listed as atomic number 92. Silver-white or silver-grey in color, uranium is what is known as a primordial element, meaning that it has been present since the Earth was formed nearly 4.5 billion years ago. The mineral is widely distributed in the planet’s solid crust, as well as in its oceans and rivers. Contrary to popular belief, uranium is not exceptionally rare. In fact, it is approximately as common as tin.

France: €1.7 billion investment on uranium to cut ties with Russia (EuroNews – October 10, 2023)

October 20, 2023

https://www.euronews.com/

On Thursday, Orano’s board approved a 30% production capacity increase for its Tricastin factory, in Southern France – Europe’s largest nuclear technology site. The project and its consequent financing will allow France to move away from its reliance on Russia.

“In the current geopolitical context, the purpose of this increase in enrichment capacities is to strengthen Western energy sovereignty in France,” said Claude Imauven, Orano’s board of directors chairman, in a statement.

NexGen Aims to Be Canadian Uranium Player – by Geoffrey Morgan and Jackie Edwards (Bloomberg News – October 19, 2023)

October 20, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Canada’s NexGen Energy Ltd. is looking to Australia’s equity market as it sets up financing for its first-ever uranium mine back home, a project with a $1 billion price tag.

That’s partly because its co-founder heralds from Down Under and the market has a depth of experience with mining stocks. But more important is Australia’s $2.2 trillion pensions industry, creating what NexGen’s Chief Commercial Officer Travis McPherson termed “unrelenting” demand for assets.

Lithium-hungry France strikes Mongolian exploration deal (Reuters – October 12, 2023)

October 13, 2023

https://www.reuters.com/

PARIS, Oct 12 (Reuters) – France signed a deal with Mongolia to search for lithium on Thursday and moved a step closer to mine uranium in the Asian country, as Paris steps up its hunt for critical metals needed for its clean energy shift.

The deals are one of the highlights of Mongolian President Ukhnaagiin Khurelsukh’s visit to Paris, which comes less than six months after President Emmanuel Macron stopped off in Ulaanbaatar on his way back from a G7 summit in Japan.

Ontario prepares to go big on nuclear, with demand for electricity poised to soar – by Mike Crawley (CBC News Toronto – September 28, 2023)

September 28, 2023

https://www.cbc.ca/news/canada/toronto/

Costs of expanding nuclear power plants could ultimately run into the hundreds of billions of dollars

Demand for electricity across Canada is forecast to double in the next 25 years, and all the signs from Ontario Premier Doug Ford’s government indicate that nuclear energy will supply the biggest portion of the province’s additional power needs.

Key factors driving that demand include the auto sector’s looming transition to electric vehicles and the push for industries to reduce their carbon emissions.

Candu or can’t? That’s the big question as AtkinsRéalis’ CEO pushes toward a nuclear future – by Eric Reguly (Globe and Mail – September 23, 2023)

September 27, 2023

https://www.theglobeandmail.com/

Ian Leslie Edwards believes the drive to net-zero emissions will trigger a nuclear revival, with old reactors everywhere being rebuilt and new ones planned

Ian Leslie Edwards shares a few numbers to reveal how the touted revival of the nuclear industry could turn the Canadian engineering company he leads, Montreal’s AtkinsRéalis ATRL-T, the former SNC-Lavalin Group Inc. and owner of Candu nuclear technology, into a global energy force.

“In the 70s and 80s, about 600 nuclear reactors were built around the world, of which 33 were Candu, say 5 per cent,” he says. “Most of these 600 reactors are near the end of their lives and need replacing. But the world needs double the amount of baseload electricity. So there is probably a market for 1,200 reactors. That’s a multitrillion-dollar market. If Candu does 5 per cent again, that’s 50 to 60 reactors.”

Cameco shares surge on uranium prices as governments warm to nuclear power – by Niall McGee (Globe and Mail – September 19, 2023)

September 21, 2023

https://www.theglobeandmail.com/

With its one-time pariah commodity back in vogue, one of Canada’s biggest mining companies is reaching valuations not seen in more than 15 years.

Cameco Corp.is benefiting from a resurgence in uranium, as nuclear power is increasingly embraced by countries looking for ways to cut carbon emissions and supply concerns arise. On Monday, the company’s shares closed at $54.54 on the Toronto Stock Exchange, about $5 below their all-time high in 2007.

Uranium price makes fresh decade high as forecasts grow (even) rosier – by Frik Els (Mining.com – September 12, 2023)

September 13, 2023

https://www.mining.com/

Uranium is officially in a bull market with a 20% rise in price so far in 2023, vastly outperforming other metals markets. Uranium scaled $60 per pound on Friday for the first time since 2011. The breakthrough for the nuclear fuel after a decade in the doldrums coincided with the last day of the World Nuclear Symposium in London.

The World Nuclear Association’s biennial report provides long and medium term projections and insights into the more obscure corners of the global supply chain.

A champion for Elliot Lake, George Farkouh dies – by Staff (Sudbury.com – September 4, 2023)

September 7, 2023

https://www.sudbury.com/

Former mayor and businessman led an internationally lauded revival from down-and-out mining town to successful retirement community

George Farkouh, the former mayor of the City of Elliot Lake who helped shepherd the northeastern Ontario community from mining town to a wildly successful retirement community, died at his home on Aug. 29. He was 76. Farkouh was mayor from 1989 to 2006.

Born in Acre, Palestine in 1947, he moved with his family to Beirut, Lebanon and from there to Canada in the 1950s, reuniting with a sibling and eventually settling in the newly created uranium mining town of Elliot Lake. His wife of 50 years, Louise, was a neighbour.

Does Europe need Niger’s uranium? – by Martina Schwikowski (DW.com – September 4, 2023)

September 7, 2023

https://www.dw.com/en/

Will the lights go out in Europe if Niger were to prevent France from mining more of its uranium? DW asked experts in Niger and Europe about the energy supply chain in the wake of the coup.

Niger’s greatest treasure lies underground: Uranium is the most important commodity in the Sahel state. But coup plotters have been in charge for just over a month, fueling fears that the uranium supply to global markets is in jeopardy.

France, the former colonial power in Niger, is in a particularly tight spot. Around two-thirds of its electricity comes from nuclear power plants powered by uranium sourced in Niger. It also exports electricity to other countries in Europe that have no nuclear plants of their own.

First They Mined for the Atomic Bomb. Now They’re Mining for E.V.s. – by Roger Peet (The New Republic – August 30, 2023)

August 31, 2023

https://newrepublic.com/

Miners in the Democratic Republic of Congo face few protections in the global rush for metals for the energy transition—as well as a toxic legacy from a previous rush to mine for nuclear weapons.

Serge Langunu is a graduate student in botany at the University of Lubumbashi in the Democratic Republic of the Congo. In May, he and I were sitting on a bench in the parking lot of a hospital just outside Lubumbashi’s downtown, looking at photos of plants on his laptop.

I met Langunu at the hospital to see an experimental plot of metal-loving plants cultivated by the university’s agronomy department. This understated garden was growing in the shadow of a massive chimney, looming across the street in the mostly abandoned grounds of the old copper smelter named after the state mining corporation, Gécamines.

SNC-Lavalin stands ready as Hydro-Québec eyes renewed push into nuclear power – by Konrad Yakabuski (Globe and Mail – August 30, 2023)

August 31, 2023

https://www.theglobeandmail.com/

Michael Sabia had barely started his new job at Hydro-Québec when the provincially owned utility best known for its massive hydroelectric dams said it is taking a renewed look at nuclear power, as it seeks to dramatically increase its energy supply by mid-century.

Mr. Sabia, who took over as Hydro-Québec’s chief executive on Aug. 1, has a mandate from Premier François Legault to add thousands of megawatts to the Quebec’s electricity grid to help the province achieve its net-zero carbon goal by 2050.