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Uranium and Nuclear Power Industry

Citing pandemic, GOP lawmakers renew push for action on critical minerals – by Jacob Holzman (S&P Global Market Intelligence – April 21, 2020)

https://www.spglobal.com/

U.S. Republican lawmakers have renewed a push for federal critical minerals policies in light of the coronavirus pandemic, saying President Donald Trump should lift a mineral withdrawal near the Grand Canyon in Arizona, adjust federal oversight of uranium mining pollution and fast-track permitting of mineral refineries as part of future economic recovery plans.

On April 17, a group of 21 House Republicans including House Republican Conference Chair Liz Cheney, R-Wyo., and House Freedom Caucus Chairman Andy Biggs, R-Ariz., wrote to Trump requesting the president “undo” a mineral withdrawal, or land withdrawal, covering more than 1 million acres near the Grand Canyon.

The mineral withdrawal, established in 2012 by the Obama administration, clarifies the authorities held by the U.S. Environmental Protection Agency and Nuclear Regulatory Commission over regulating groundwater pollution from in situ leach uranium mining.

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Uranium Surges 31% Amid Shutdowns to Become Year’s Top Commodity – by Aoyon Ashraf and Joe Deaux (Bloomberg News – April 19, 2020)

https://ca.finance.yahoo.com/

(Bloomberg) — ​​​​​​While most commodities are getting hammered by the coronavirus crisis, uranium prices are skyrocketing.

The radioactive metal used in nuclear fuel has climbed 31% this year, making it the world’s best-performing major commodity. The gains have been spurred by mine shutdowns that have wiped out more than a third of annual global output at a time when demand from power plants has remained relatively stable.

“This is a bit of a one-two punch in uranium’s favor,” said Nick Piquard, a portfolio manager at Horizons ETFs. “Not only has Covid-19 likely not impacted nuclear power demand very much, but it is certainly impacting supply.”

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The coming supply shock in mining – by Marin Katusa (Kitco News – April 14, 2020)

https://www.kitco.com/

No country is immune to the spread of COVID-19. The virus has killed over 95,000 people and infected over 1.6 million people in 209 countries globally. The virus has put many major mining operations at risk.

Mines are being shut down across the world, either by government mandate or by the company due to the virus. The knock-on effects of the mine shutdowns will be significant.

For example, in Namibia, mining contributes to 25% of the country’s income and the whole industry has been put on hold. Despite mining being an essential service in many regions… “Over 500 Gold, Silver, Copper, Iron, Coal and Uranium mining, development and exploration assets across the globe have ceased or scaled back production (meaning operating stockpiles and with limited workforce).”

This has had a significant impact on many companies that are not well capitalized to weather the storm. The virus has put a company like First Quantum in a serious predicament.

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Cameco halts conversion facility in Ontario – by Cecilia Jamasmie (Northern Miner – April 8, 2020)

https://www.northernminer.com/

Canada’s Cameco (TSX: CCO; NYSE:CCJ), the world’s largest publicly traded uranium miner, is placing its plant at the Port Hope conversion facility, in Ontario, in a temporary safe shutdown state for four weeks.

The move comes as the company faces the increasing challenge of maintaining an adequate workforce as a result of screening protocols and other measures put in place to combat the covid-19 pandemic.

Since the majority of the UO3 produced at the Blind River refinery is used to produce UF6 at the conversion facility, the refinery’s production would also be temporarily suspended and, where possible, summer maintenance work brought forward.

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Remarkable signs of federal-provincial unity on small nuclear reactors – by Duane Bratt (Policy Options – March 30, 2020)

Policy Options – Institute for Research on Public Policy

The Canadian Nuclear Association (CNA) held its annual conference in Ottawa in February. It was the most optimistic gathering in years. In one sense, this was only natural.

After all, the organization was celebrating its 60th anniversary and it was the largest gathering ever, with over 900 delegates (100 of them students) and about 40 exhibitor booths. More substantively, there were three fundamental reasons for the optimism — including the prospect of a promising new product line.

First, many of the problems that bedevilled the nuclear industry in years past have essentially been resolved. The restructuring of Canada’s nuclear Crown corporation, Atomic Energy of Canada Limited (AECL), is now complete.

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Cameco suspends Cigar Lake uranium operations to reduce threat of COVID-19 spread – by Niall McGee (Globe and Mail – March 25, 2020)

https://www.theglobeandmail.com/

Cameco Corp. has suspended operations at its massive Cigar Lake uranium mine in Saskatchewan to reduce the threat of spreading the novel coronavirus into remote communities in northern parts of the province.

One of the biggest uranium mines in the world, Cigar Lake is located about 650 kilometers north of Saskatoon, and is a fly-in/fly-out operation.

In a statement, Cameco said the decision to idle Cigar Lake for four weeks was motivated by the “restrictions enacted by the federal and provincial governments, the significant degree of concern among leaders in remote isolated communities of northern Saskatchewan, and the increased challenges of maintaining the recommended physical distancing.”

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Environmentalists fear more uranium mining near Grand Canyon may be impending – by Debra Utacia Krol (Arizona Republic – March 17, 2020)

https://www.azcentral.com/

Environmentalists and tribal leaders are gearing up to address a long-anticipated recommendation to reopen the Grand Canyon region to uranium mining.

The Nuclear Fuel Working Group, established by President Donald Trump in July 2019 to explore domestic uranium production, is expected to release its findings and recommendations soon. And those recommendations are almost certain to include increasing the domestic supply of uranium, which was named one of the U.S.’s critical minerals in 2018.

That puts uranium on the same footing with minerals like cobalt and lithium, used in the electronics industry, and rare earth elements like titanium and tin. These minerals are so designated because they are essential to the U.S. economy and, because many of these minerals are heavily imported, the supply of one or more may be disrupted, according to the American Geosciences Institute.

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How COVID-19 is affecting the bottom line in Sask.’s biggest industries – by Chelsea Laskowski (CBC News Saskatchewan – March 17, 2020)

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

Saskatchewan’s biggest industries are forging ahead with limited impact in the face of COVID-19, but are paying keen attention to its long-term effects. Potash and uranium mines are taking precautions with staff, but spokespeople with Nutrien and Cameco, the biggest players in both industries in the province, say there have been no disruptions to production.

Spring seeding hasn’t started in agriculture yet, but there are long-term repercussions that could hit next month. In the short term, oil has been the hardest hit.

Oil

Oil prices plummeted early last week. There were other factors causing the dip that were unrelated to coronavirus, but as the disease has spread there are new major pressures on the industry.

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OPINION: To lead on climate, Canada should invest in the next generation of nuclear reactors – by Robert Bryce (Globe and Mail – March 14, 2020)

https://www.theglobeandmail.com/

Robert Bryce’s latest book is A Question of Power: Electricity and The Wealth of Nations, from which this essay is adapted.

Coal use in Canada continues to decline. In 2018, the amount of electricity produced from coal was about 59 terawatt-hours, or roughly half as much as the country’s utilities were producing in 2000.

Canada was able to slash its coal use thanks to its reliable nuclear plants, an increase in natural-gas-fired generation and growth in renewables. But if you think the rest of the world is going to quit using coal, think again. A total of nearly 200 gigawatts of new coal-fired capacity is now under construction around the world in places such as China, India, Turkey, Vietnam, Pakistan, Indonesia, Bangladesh and the Philippines.

Furthermore, and perhaps most surprisingly, Japan, the birthplace of the Kyoto Protocol, the world’s first international agreement to cut greenhouse gas emissions, is also building new coal plants, up to 22 of them.

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Researcher: Uranium cleanup should be No. 1 priority – by Rima Krisst (Navajo Times – March 12, 2020)

https://navajotimes.com/

CROWNPOINT, N.M.: “Illness due to uranium is no longer just the story of the miners. It’s the story of their children and grandchildren,” said Southwest Research and Information Center Environmental Health Specialist Chris Shuey. Shuey, who studies contaminants in the environment and their potential health effects, calls the legacy of uranium mining on the Navajo Nation an atrocity.

“Hopefully, these hearings will result in new and better policy to speed up the cleanup, fund addition health studies, and get reparations and compensation for the people,” said Shuey, who presented at a hearing in Crownpoint on a proposed Navajo Nation position statement on uranium.

Because of the shroud of secrecy and superstition surrounding uranium as a weapon of war, health studies and continuing education about the impacts did not occur as soon as they should have, he said. “Not knowing and not talking is equivalent to a death sentence because you can’t do anything about it,” said Shuey.

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Feds bullish on nuclear: Minister visits Sask. north – by Glenn Hicks (LaRongeNow.com – March 10, 2020)

https://larongenow.com/

“Show me a credible plan that doesn’t involve nuclear.” That’s the strong endorsement for Saskatchewan’s uranium sector from federal Minister of Natural Resources Seamus O’Regan who has just wrapped a visit to the North.

O’Regan, who has been minister for a few months, said he wanted to acquaint himself with the world’s richest uranium mine at Cigar Lake and also visit the various northern communities who rely on mining jobs, such as Hatchet Lake, Black Lake and Fond du Lac. But he also carried with him an unequivocal message about Ottawa’s stance on nuclear as part of the route toward net-zero emissions by 2050.

“There is no way that we can reach net-zero without nuclear energy, and there is no way we can reach net-zero without the mining industry,” he told paNOW. “When we talk of a carbon-free future we often point to things like electric cars. Well, they’re built of something: they’re built with metals and minerals.”

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‘Affordable, safe’ nuclear power is key to reaching Canada’s climate goals: federal minister – by Ryan Tumilty (National Post – February 28, 2020)

https://nationalpost.com/

‘I have not seen a credible plan for net zero without nuclear as part of the mix,’ Natural Resources Minister Seamus O’Regan told a nuclear conference

OTTAWA – Canada must expand its nuclear power capacity if it is to reach its climate targets, the Minister of Natural Resources said Thursday. Speaking to the Canadian Nuclear Association’s annual conference, Seamus O’Regan said the industry has to grow.

“As the world tackles a changing climate, nuclear power is poised to provide the next wave of clean, affordable, safe and reliable power,” he told a packed room.

The Ottawa conference was the largest the industry has run with dozens of companies and more than 900 people in attendance. Provincial cabinet ministers from Saskatchewan and Ontario were also there. Those two provinces, along with New Brunswick, signed a memorandum in December to work together on small modular reactor technology.

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Northern mine cleanups continue; province, feds still divided on cost – by Alex MacPherson (Saskatoon StarPhoenix – February 24, 2020)

https://thestarphoenix.com/

Crews are expected to start assessing Saskatchewan’s first uranium mine, which was staked 100 years ago, this summer.

Saskatchewan’s first uranium discovery was staked a century ago, but it took almost three decades before prospectors gave up attempting to extract iron, copper and gold from the site and turned their attention to its last remaining mineral resource.

Named for the former Royal North-West Mounted Police officer who re-staked the site on the north shore of Lake Athabasca in 1929, the Nicholson mine underwent development in 1949 and sent out its first uranium shipments five years later.

Production halted in 1956 after Consolidated Nicholson Mines Ltd.’s supply contract ended in the face of falling prices. Subsequent efforts to resume mining failed and the remote site was abandoned with little cleanup effort a few years later.

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Trump proposal triggers rush of uranium mining plans, including in southern Utah – by Brady McCombs and Ellen Knickmeyer (Deseret News/Associated Press – February 23, 2020)

https://www.deseret.com/

SALT LAKE CITY — President Donald Trump’s $1.5 billion proposal to prop up the country’s nuclear fuel industry has emboldened at least one company to take steps toward boosting operations at dormant uranium mines around the West, including southeast Utah and outside Grand Canyon National Park.

The company, Canada-based Energy Fuels Inc., announced a stock sale and said it would use the proceeds for its uranium mining operations in the U.S. West.

The Trump administration asked Congress recently for $1.5 billion over 10 years to create a new national stockpile of U.S.-mined uranium, saying that propping up U.S. uranium production in the face of cheaper imports is a matter of vital energy security. Approval is far from certain in a highly partisan Congress.

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Jabiluka mine call slammed by traditional owners – by Peter Ker (Australian Financial Review – February 11, 2020)

https://www.afr.com/

Traditional land owners have rejected suggestions the Jabiluka uranium deposit should be developed and say they do not believe Rio Tinto has a ”secret agenda” to eventually mine the deposit.

The rare comments from the Gundjeihmi Aboriginal Corporation (GAC) counter Zentree Investments founder Richard Magides’ belief that Jabiluka’s uranium will be valuable in future amid rising demand for carbon-free electricity from nuclear power stations.

Zentree is the second biggest shareholder in ASX listed Energy Resources of Australia (ERA) and has accused the biggest shareholder, Rio, of deliberately structuring a $476 million equity raising to enable it to take 100 per cent ownership of ERA.

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