Archive | Uranium and Nuclear Power Industry

China’s CNNC seeking overseas partners to secure uranium – exec (Reuters U.S. – October 31, 2018)

MELBOURNE, Oct 31 (Reuters) – China National Nuclear Corp (CNNC) is looking to invest in overseas uranium mines to secure supply for an expected ramp-up in China’s nuclear power generation, a senior company executive said on Wednesday.

China and Japan have been ramping up nuclear power as an alternative to fossil fuels, and rising demand could pull uranium out of a years-long slump that has seen a swathe of projects put on care and maintenance in recent years.

“Our vision is to be the world’s leading uranium company,” Ni Tao, deputy manager of China National Uranium Co Ltd, said at the IMARC mining conference in Melbourne. Continue Reading →

Editorial: From Pagaea to Pittsylvania County; why there’s uranium in Virginia (The Roanoke Times – October 28, 2018)

About 200 million years ago, something strange happened in Pittsylvania County. Next week, the U.S. Supreme Court will hear arguments on what to do about that.

Technically, Virginia Uranium, Inc. v. Warren has nothing to do with the Mesozoic Era and everything to do with the classic (but more contemporary) struggle between state and federal governments. Virginia Uranium wants to mine a deposit of uranium found under farmland about 8.5 miles east of Chatham and says Virginia’s ban on uranium-mining violates the federal Atomic Energy Act.

Virginia says that act applies only to uranium mines on federal lands, not private property. The Trump administration has weighed in on the side of the company. Politically, this sets up a curious role reversal, with the conservative president arguing in favor of federal power and the liberal attorney general of Virginia arguing on behalf of state’s rights. Continue Reading →

Nuclear-missile commander vs. Saskatchewan premier: The debate over proposed U.S. curbs on uranium imports – by Tom Blackwell (Financial Post – October 23, 2018)

Amid the multi-pronged Trump trade wars, uranium has been largely overlooked, but any protectionist measures could undermine a major Canadian export

Brian Boner isn’t alone in applauding proposed U.S. curbs on uranium imports from foreign countries like Canada. His reasons for backing the idea, though, stand out.

As a former nuclear-missile crew commander — managing up to $5-billion worth of intercontinental atomic firepower — the Wyoming state senator says he knows the importance of a robust domestic uranium industry.

“I was responsible directly to the president for potential launch actions on anywhere from 10 to 50 ICBMs,” Boner says in comments to the U.S. Commerce Department, referring to intercontinental ballistic missiles. “An increasingly uncertain geopolitical environment requires prudence and caution, especially in these crucial matters of defending our country from its existential threat.” Continue Reading →

Exclusive: Spain to block Berkeley uranium mine project – sources – by Belén Carreño (Reuters U.S. – October 16, 2018)

MADRID (Reuters) – The Spanish government has decided not to deliver the permits necessary to open the European Union’s only open-cast uranium mine near Salamanca, dealing a serious blow to Australian mining company Berkeley Energia’s (BKY.AX) plans.

The project was granted preliminary approval in early 2013 but has since faced local opposition. Berkeley later requested a trading halt on its shares, which fell nearly 29 percent in Australian trading hours on Tuesday, citing media articles about the Salamanca mine.

The company asked the Australian Securities Exchange to suspend trading until it released a statement on the Salamanca mine or until the opening of trade on Oct. 19, whichever came first, according to the letter sent to the regulator. Continue Reading →

Grand Canyon uranium mining ban upheld as supreme court declines to hear challenge – by Joanna Walters (The Guardian – October 1, 2018)

The ban on new uranium mining near the Grand Canyon implemented by the Obama administration was effectively upheld on Monday when the US supreme court declined to hear a challenge from the industry.

Environmental groups and Native American communities declared victory when, on the first day of its fall season, the bench announced that the uranium extraction ban was among cases it refuses to review.

An appeals court decision from December 2017 that the ban is legal will now stay in place. Hundreds of mineral deposit claims from Canadian, British and US interests that want to seek out and exploit uranium deposits close to Grand Canyon National Park now remain on hold. Continue Reading →

With the CRA tax case now behind it, is it finally time for a bet on Cameco and the future of uranium? – by David Berman (Globe and Mail – September 27, 2018)

A court ruling in favour of Cameco Corp. in its long-simmering tax dispute with Canada Revenue Agency has lifted a concern that had weighed on the uranium producer’s share price for several years, sending its stock soaring on Thursday.

The share price jumped 15.7 per cent, to $14.80 in Toronto, for its biggest gain in nearly 10 years, and executives beamed.

“I do not think it could have been more clear on any of the issues,” Tim Gitzel, Cameco’s chief executive officer, said during a conference call. “So we’re absolutely delighted with the decision.” The Tax Court of Canada ruling released on Wednesday said Cameco had not violated Canadian law by selling uranium through a European subsidiary to reduce its tax bill. Continue Reading →

For national security, impose quota on foreign uranium imports – by Paul Goranson (San Antonio Express-News – September 24, 2018)

Today, the Texas uranium mining industry is virtually silent. Indeed, across the U.S., this once-thriving industry now supplies only a small fraction of our domestic nuclear energy and defense requirements, threatening our energy independence and national security. Along with many others, the U.S. Department of Commerce, or DOC, is now asking, why?

As the world’s largest consumer of uranium, the U.S. now produces only 5 percent of the uranium needed to supply 20 percent of our nation’s electricity, representing nearly 60 percent of our clean, zero-carbon electricity. As recently as 1987, almost 50 percent of our nuclear fuel consumption came from domestically produced sources.

Earlier this year, Energy Fuels Resources (USA) and Ur-Energy USA Inc. petitioned the DOC to investigate the adverse effects of uranium imports on national security under Section 232 of the Trade Expansion Act of 1962. Continue Reading →

SASKATCHEWAN’S FIRST COLD WAR URANIUM MINE – by Dr. Laurie Schramm (Saskatchewan Research Council – September 18, 2018)

This blog post is based on the book, “The Nicholson Mine. Saskatchewan’s First Cold War Uranium Mine” co-written by Dr. Laurier Schramm and Patty Ogilvie-Evans.

In the early 1930s, prospectors discovered mineable deposits of Canadian uranium minerals in the Beaverlodge region near Lake Athabasca in northern Saskatchewan. Uranium wasn’t much more than a curiosity at that time, but it became instantly valuable when the 1939 discovery of nuclear fission and its massive energy-producing potential led to an international atomic energy race.

The worldwide search for uranium caused a resurgence in northern Canadian mineral exploration through the 1940s. In the early 1950s, many uranium mines were developed in northern Saskatchewan.

This era is rich in stories, involving a high-stakes treasure hunt in a remote, northern wilderness, and the secrecy, intrigue, and urgency of the Cold War, plus adventures and hardships of all kinds. Although there were many failures, a few remarkable successes were born out of a combination of hard work, good fortune, creativity, and dogged persistence. The results made Canada one of the world’s largest sources of uranium. Continue Reading →

[Nuclear Testing Australia] Remembering The Black Mist – by Karen Wyld ( – September 19, 2018)

Karen Wyld is an author and freelance writer of Martu descent, living on Kaurna country in South Australia

Recently I viewed the Black Mist Burnt Country exhibition at the National Museum of Australia. Launched on 27 September 2016, to mark the 60th anniversary of nuclear bomb testing at Maralinga in South Australia, the exhibition has already covered a lot of ground touring the eastern states.

This exhibition is a vivid and reflective collation that is raising awareness of the impact of nuclear testing in Australia. The cost for British and Australian army personnel and civilians was high. More so for Aboriginal people, who often weren’t even considered before the bombs went off.

Given re-emergence of interest in uranium mining and intent to construct waste dumps on Aboriginal lands, despite strong community opposition, this exhibition is also a stark reminder of how little some people have learnt from the past. Continue Reading →

The Riches Beneath the Plains: Mineral Exploration and Mining in Saskatchewan is Still World Class (Investng News Network – September 17, 2018)

Investing News Network

This INNspired article is sponsored by Canadian Platinum

Mineral exploration and mining in Saskatchewan have consistently been recognized as the best examples for the industry in Canada, and the province is considered one of the greatest places in the world to conduct mining operations.

The latest Fraser Institute report places the flat province at number two in their worldwide rankings, just below Finland. As the third largest source of employment in the province, the mining industry is vitally important to Saskatchewan. This has led its provincial government to go out of its way to make sure mining in Saskatchewan is as attractive to mining firms as possible.

That’s not to say that Saskatchewan needs much help. Proudly boasting a rich and diverse mineral wealth, a skilled workforce and a strong mining history, Saskatchewan’s mining industry provides enormous opportunity and excellent stability for the mining firms conducting operations within its borders. Continue Reading →

America’s National Security Is Undermined by Reliance on Foreign Uranium – by Jeff Carlson (Epoch Times – September 17, 2018)

Nuclear power generation provides about 11 percent of the world’s electricity from approximately 450 nuclear reactors. The United States is far and away the world’s largest producer of nuclear power, accounting for more than 30 percent of worldwide nuclear generation of electricity.

The United States has 99 nuclear reactors, which produced 805 billion kilowatt hours (kWh) in 2017, accounting for approximately 20 percent of our electricity needs and providing approximately 60 percent of our carbon-free electrical generation.

France is a distant number two in overall generation of nuclear power at approximately 384 billion kWh. However, France generates over 70 percent of its internal electricity needs from nuclear power. China is number three, generating a bit more 210 billion kWh. Russia is fourth with roughly 180 billion kWh. Continue Reading →

Uranium Mining a Decision Best Left to the States – by THE EDITORIAL BOARD (Lynchburg News and Advance – September 9, 2018)

The Coles Hill Farm uranium deposit in Pittsylvania County has been a bone of contention since the 1970s when geologists discovered it. From the property owners to one mining company after another, extraction of uranium ore has been an ongoing issue.

Likewise, the possibility of mining the deposit has met vehement opposition from environmental advocates and the majority of local residents. For decades, too, uranium mining has been an undercurrent in Southside Virginia politics. It’s about to get much more contentious very quickly.

That’s because Canadian-backed Virginia Uranium Inc. (VUI) and its local and international investors have taken their fight to overturn the commonwealth’s 36-year-old mining moratorium to U.S. Supreme Court. It has just scheduled arguments for Nov. 5, and the stakes for Virginia couldn’t be higher. Continue Reading →

Commentary: Uranium’s rally built on supply cuts, looks overcooked for now – by Clyde Russell (Reuters U.K. – September 3, 2018)

LAUNCESTON, Australia (Reuters) – One of the surprise packets in the commodity space this year has been uranium, with the spot price surging 30 percent in the past four months, a stellar performance that may not be justified by current fundamentals.

Uranium stood at $26 per pound on Aug. 31, up from the low so far this year of $20, hit in mid-April. The year-to-date gain is 16.6 percent, and the metal used to power nuclear reactors is on track to record a second annual increase.

This looks like a strong performance on the surface, but uranium isn’t quite like other commodity markets and it’s worth delving down to try and fathom the underlying dynamics. Continue Reading →

Sun Dogs and Yellowcake: Gunnar Mines – A Canadian Story – Book Review by Jonathan Buchanan (Mineral Exploration Magazine – Summer 2018)

To order a copy of Sun Dogs and Yellowcake: Gunnar Mines – A Canadian Story, click here:

Patricia Sandberg was formerly a partner at DuMoulin Black, a Vancouver law firm acting for mining companies listed on Canadian and international stock exchanges. Her clients had mining operations in Canada, the United States, China, and Latin America. Three generations of her family, including Patricia as a child, lived at Gunnar and her grandfather spent thirty years working at mines run by Gilbert LaBine, Canada’s “Father of Uranium.”

Book Review by Jonathan Buchanan

In the 1950s, the Cold War had a profound effect on Canada’s landscape – from the building of Distant Early Warning stations scattered across Canada’s North to the creation of uranium mining towns on the Canadian Shield. One of these towns, Gunnar, lasted for just over a decade, but its indelible impact on its residents, as Patricia Sandberg writes in Sun Dogs and Yellowcake.

The result is a very rich, often humorous, sometimes tragic and always engaging account of how one community rose to meet the demands of the Atomic Age. As the title suggests, it bridges the natural wonders of the North with those of the industrial world.

Continue Reading →

Massive filing in Cameco case may signal ‘trench warfare’ in Canada’s tax court – by Julius Melnitzer (Financial Post – August 8, 2018)

The 700 pages of concluding arguments filed with the Tax Court of Canada (TCC) in Cameco Corporation’s $2.1 billion transfer pricing dispute with the Canada Revenue Agency (CRA) marks a new era of complexity for corporate tax litigation in Canada.

“That type of filing is unheard of and may signal the evolution of a kind of trench warfare in the Tax Court,” said a veteran tax litigator who spoke on condition of anonymity because of the lawyer’s connection to the ongoing case.

After 65 days of trial, the parties made their closing arguments in September 2017. Justice John Owen reserved his decision, which, by some accounts, may not be issued until 2019 owing to its legal and factual intricacies and the implications for business. Continue Reading →