Strateco suing Quebec for $190-million over blocked uranium project – by Nicolas Van Praet (The Globe and Mail – December 12, 2014)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

MONTREAL — Quebec mining junior Strateco Resources Inc. is suing the provincial government for $190-million in investment losses following its decision to block the company’s uranium project after years of preliminary work.

“This whole thing has left us extremely frustrated,” Strateco chief executive Guy Hébert said Thursday, noting that he put two mines into production in Quebec within a nine-year period while this project has taken a decade and still isn’t producing.

Strateco’s Matoush uranium project in Northern Quebec was once hailed as a key part of former premier Jean Charest’s Plan Nord, a multibillion-dollar effort to develop Quebec’s north, pinned on natural resource extraction. Today, it sits undeveloped, highlighting the confusion that’s come from Quebec City in recent years on mining activity.

Boucherville, Que.-based Strateco, once a $4 stock that now trades for pennies, said it invested an average of $20-million a year on the Matoush project from 2006 to 2012 on the basis that uranium exploration and mining are allowed in Quebec. The government granted the company some 30 permits to start work at the site, including permission to build an airstrip.

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Nunavik says no to uranium mining – by Sarah Rogers (Nunatsiaq Online – November 26, 2014)

http://www.nunatsiaqonline.ca/

Final round of Quebec public hearings to visit the region next week

KUUJJUAQ — Nunavik’s leadership has taken a position on the future of uranium mining in the region — and it’s a resounding “no.”

And Makivik Corp. and the Kativik Regional Government plan to say so in a joint brief that will be submitted to public hearings in Nunavik next week.

The independent Quebec body called the Bureau d’audiences publiques sur l’environnement, or BAPE, is returning to the region for a third and final round as part of its province-wide tour to gauge the public’s opinion on uranium mining.

“We’re going to say that there should be no uranium mining in Nunavik, period,” KRG chair Maggie Emudluk told a meeting of regional councillors in Kuujjuaq Nov. 26.

The BAPE has been to Nunavik twice already in 2014, but while its previous visits took questions and provided information to the public, its upcoming stops in Kuujjuaq Dec. 2 and Kangisualujjuaq Dec. 3 will be to hear the region’s position on potential uranium development.

It wasn’t clear until now that Nunavik’s leaders have takes a public stand on the issue.

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Japan’s nuclear restart to boost Australian uranium industry – by Vicky Validakis (Australian Mining – November 18, 2014)

http://www.miningaustralia.com.au/home

The Minerals Council of Australia says Australia’s uranium industry is set for a boost as Japan moves to restart nuclear reactors for the first time since the Fukushima meltdown.

Two reactors at Japan’s Sendai nuclear plant in the south west of the country are due to restart next year after receiving approval from local governor Yuichiro Ito.

This is the first time a reactor will restart since an earthquake triggered a tsunami in 2011, causing a meltdown at the Fukushima facility.

All of Japan’s 48 nuclear plants were shut down in response, but Prime Minister Shinzo Abe has been pushing for their reopening as the cost of importing oil and gas hurts the Japanese economy, BBC reported.

Before the meltdown nuclear energy produced around 30 per cent of Japan’s power. “I have decided that it is unavoidable to restart the No. 1 and No. 2 Sendai nuclear reactors,” Ito said. “I have said that assuring safety is a prerequisite and that the government must ensure safety and publicly explain it thoroughly to residents.”

Executive director for uranium at the Minerals Council of Australia Daniel Zavattiero said the move was good news for the local uranium industry and its 4000 workers.

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In China, Candu Energy sees promising future – by Nathan Vanderklippe (Globe and Mail – November 10, 2014)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

BEIJING — Jean Chrétien was in a good mood when he came to Shanghai in late 1996 to sell two Candu reactors. He kidded around with Li Peng, the then-Chinese premier, going so far as to try to place a red pompon on the head of the famously dour leader.

Mr. Chrétien promised a future filled with more multibillion-dollar sales of Canadian nuclear technology to China. “I hope we will have many more Candus built in this great country of yours,” he said then.

For the nearly two decades that followed, that optimism bore no fruit.

Now, however, Candu Energy – divorced from the federal government and in the hands of SNC-Lavalin Group Inc. – says it is working toward a deal that could see it partner with a Chinese nuclear giant to build new reactors, both in China and abroad.

By June, 2015, Candu hopes to finalize a joint-venture deal with China National Nuclear Corp., the massive state-owned atomic power and weapons company, “to develop global opportunities” for its advanced fuel reactor. The two sides signed an initial broad-strokes memorandum of understanding during the visit of Prime Minister Stephen Harper to Beijing this weekend.

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Uncertainty clouds the investment outlook of Quebec’s mining industry – by Bertrand Marotte (Globe and Mail – October 14, 2014)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

MONTREAL — Quebec’s attempts to put an end to years of image-corroding uncertainty and lack of clarity for the mining industry are getting mixed reviews.

The Liberal government of Premier Philippe Couillard has revived plans to accelerate natural resource extraction in the vast northern reaches of the province. And the new Mining Act has helped bring greater predictability and transparency to a political environment many critics said was damaging Quebec’s reputation as an attractive jurisdiction for mining investment.

But problems and unresolved issues remain, even factoring in the current global commodities downturn, say some industry players and observers.

Take the case of Strateco Resources Inc., which recently shut down its uranium mining project in the Otish Mountains of northern Quebec after years of what its chief executive says have been frustrating dealings with provincial authorities. “This has been extremely difficult,” Strateco president and chief executive officer Guy Hébert said.

For years, the government declined to grant Strateco the right to start underground exploration at the site, known as Matoush, despite the company jumping through hoops to get 22 permits from Quebec at different phases of the project, he said.

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NEWS RELEASE: First Uranium Concentrate Produced from Ore Mined at Cigar Lake

SASKATOON, SASKATCHEWAN–(Marketwired – Oct. 8, 2014) – ALL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED)

Cameco (TSX:CCO) (NYSE:CCJ) announced today that the McClean Lake mill has started producing uranium concentrate from ore mined at the Cigar Lake operation in northern Saskatchewan.

The McClean Lake mill, operated by AREVA Resources Canada Inc., recently completed modifications required to safely process the high-grade ore from the Cigar Lake mine. Cigar Lake ore is transported by truck to the McClean Lake mill located 70 kilometres northeast of the minesite for processing.

Mining at Cigar Lake began in March 2014. To date, Cameco has delivered about 1,400 tonnes of ore to McClean Lake. Mining was suspended in July 2014 to allow the orebody to freeze more thoroughly. Mining resumed in the first week of September and ore deliveries to the mill are ongoing. The mill is expected to produce up to 1 million pounds of uranium concentrate from Cigar Lake ore in 2014 and ramp up to its full production rate of 18 million pounds by 2018 (Cameco’s share 9 million pounds).

“Cigar Lake is among the world’s richest and most technically challenging orebodies and I congratulate all of the people who helped to bring it into production,” said Cameco president and CEO Tim Gitzel. “It provides Cameco with a large-scale, low-cost production centre and positions us to take full advantage of the long-term growth we see coming in our industry.”

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Judge upholds 20-yr Grand Canyon mining ban – by Dorothy Kosich (Mineweb.com – October 2, 2014)

http://www.mineweb.com/

U.S. District Judge David Campbell says no legal authority exists to overturn 1 million-acre land withdrawal near the Grand Canyon.

RENO (MINEWEB) – U.S. District Judge David Campbell has upheld the U.S. Department of Interior’s 20 year-ban on exploration and development of uranium mining claims on 1 million acres near the Grand Canyon National Park.

The withdrawn land includes a north parcel of 550,000 acres, an east parcel of 135,000 acres, and a south parcel of 322,000 acres. Only the mining of a few existing claims will be permitted.

Plaintiffs in the case included the National Mining Association and the Nuclear Energy Institute, the Arizona-Utah Local Economic Coalition, Quaterra Resources, and an individual, Gregory Yount, with interests in uranium mining. Motions for summary judgment were filed by Plaintiffs American Exploration & Mining Association and Yount.

Defendants included the U.S. government, the Center for Biological Diversity, the Grand Canyon Trust, Havasupai Tribe, National Parks Conservation Association and the Sierra Club.

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U.S. Ramping Up Major Renewal in Nuclear Arms – by WILLIAM J. BROAD and DAVID E. SANGER (New York Times – September 21, 2014)

http://www.nytimes.com/

KANSAS CITY, Mo. — A sprawling new plant here in a former soybean field makes the mechanical guts of America’s atomic warheads. Bigger than the Pentagon, full of futuristic gear and thousands of workers, the plant, dedicated last month, modernizes the aging weapons that the United States can fire from missiles, bombers and submarines.

It is part of a nationwide wave of atomic revitalization that includes plans for a new generation of weapon carriers. A recent federal study put the collective price tag, over the next three decades, at up to a trillion dollars.

This expansion comes under a president who campaigned for “a nuclear-free world” and made disarmament a main goal of American defense policy. The original idea was that modest rebuilding of the nation’s crumbling nuclear complex would speed arms refurbishment, raising confidence in the arsenal’s reliability and paving the way for new treaties that would significantly cut the number of warheads.
Instead, because of political deals and geopolitical crises, the Obama administration is engaging in extensive atomic rebuilding while getting only modest arms reductions in return.

Supporters of arms control, as well as some of President Obama’s closest advisers, say their hopes for the president’s vision have turned to baffled disappointment as the modernization of nuclear capabilities has become an end unto itself.

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Time to buy uranium? The best ways to play it – by Brenda Bouw (Globe and Mail – September 29, 2014)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

Patience could finally start to pay off for investors waiting for a revival of the uranium market that imploded in the aftermath of Japan’s nuclear disaster in 2011.

After the spot price hit a nine-year low of $28 (U.S.) this spring on oversupply concerns, dragging uranium equities down with it, many investors believe the commodity used to fuel nuclear power plants has finally hit bottom, as the demand picture brightens.

The price has risen about 30 per cent in recent weeks, to $36.50, driven by additional U.S. and European sanctions against Russia, a major uranium supplier, in its conflict with Ukraine. That threatens to put pressure on the global uranium supply, alongside a recent two-week strike at Cameco Corp.’s McArthur River and Key Lake operations in Saskatchewan.

Meantime, Japan is readying the restart of its nuclear program, while China continues its aggressive nuclear plant build-out as part of its strategy to cut pollution by developing cleaner energy sources.

“I think the worst is behind us in the uranium space,” said BMO Nesbitt Burns analyst Edward Sterck. While he doesn’t expect a big rally in uranium and is neutral on the overall sector right now, Mr. Sterck sees investors slowly returning to the space.

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India turns to nuclear as energy crisis deepens – by Aditya Phatak (Phys.org – September 28, 2014)

http://phys.org/

India’s new prime minister is turning to nuclear energy to ease a power crisis made worse by the cancellation of hundreds of coal mining permits, but he faces scepticism both at home and abroad.

Energy-starved India relies on coal to produce two thirds of its electricity, but power blackouts are common and demand is rising quickly as the economy and middle class expand.

On Wednesday, the Supreme Court cancelled over 200 coal mining permits because the licensing process was deemed illegal, making the need for alternative energy sources yet more pressing.

Prime Minister Narendra Modi has made nuclear a priority as he seeks to fulfil his campaign pledge to kickstart the country’s flagging economy.

But to succeed, he will need to convince a sceptical public that nuclear is safe, and dispel foreign proliferation concerns to secure the imports of uranium and technology that India needs to produce atomic energy.

“Concerns of power disruptions raised post the Supreme Court judgement on the coal issue show how reliance on single source of energy is unhealthy,” said Amit Bhandari, energy and environment fellow at Gateway House, a Mumbai-based think-tank.

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NEWS RELEASE: The First Nations in Quebec stand united in their opposition to uranium mining

WENDAKE, QC, Sept. 25, 2014 /CNW Telbec/ – At a workshop on uranium development hosted by the Assembly of First Nations Quebec-Labrador (AFNQL) today, First Nations from across the province reaffirmed their opposition to uranium development on their territories and throughout Quebec. The workshop brought together representatives of First Nations from across Quebec to discuss the future of uranium development in Quebec.

In March 2013, the AFNQL passed a resolution inviting its members to voice their opposition to uranium development and to declare a global rejection of the exploration and exploitation of uranium on all First Nation territories. This followed the resolution adopted by the Grand Council of the Crees in August 2012 declaring a permanent moratorium on uranium development in Cree territory.

“The exploration and exploitation of uranium constitute major and irreversible threats to our population, our territories and the resources they contain”, said Chief Terence McBride, the Chief of Timiskaming First Nation and member of the Interim Chiefs Committee for the AFNQL. “As First Nations, we have a sacred duty to protect our territories and ensure the sustainable development of our natural resources.”

“Our experience here today has clearly demonstrated that the First Nations of Quebec and Labrador are united in our opposition to uranium development in our territories,” continued Grand Chief Matthew Coon Come of the Cree Nation. “We strongly encourage all the First Nations and citizens in Quebec to clearly and publicly express their opposition to uranium development.”

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Japan’s predicament a boon for future of energy exporters – by Brian Milner (Globe and Mail – September 18, 2014)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

This is another of an occasional series from The Globe and Mail’s Brian Milner, who visited Japan to assess the results of dramatic efforts to revitalize the world’s third-largest economy.

One commercial office building in Tokyo’s busy Uchisaiwaicho district is notable for its constant police presence. That’s because it’s the headquarters of Tokyo Electric Power Co. (TEPCO), provider of power to nearly 30 million people and one of Japan’s more reviled companies.

TEPCO gained its spot in the Hall of Shame over its dreadful handling of the Fukushima nuclear disaster triggered by the massive earthquake and tsunami in March, 2011, as well as subsequent revelations of poor maintenance and safety flaws and anger over the slow pace of compensation. Huge anti-nuclear demonstrations followed, and the public outcry has scarcely abated. As recently as its annual meeting in June, management had to fend off activist shareholders demanding a permanent end to nuclear power.

Now, a year since the complete shutdown of the rest of Japan’s 48 reactors for safety checks, those demands have taken on new urgency. The Nuclear Regulation Authority, the government’s watchdog, has given the green light for another utility, Kyushu Electric Power Co., to restart two reactors at its Sendai plant in southwestern Japan. Other utilities are seeking the go-ahead to turn another 18 reactors back on.

Prime Minister Shinzo Abe needs to get at least part of the country’s substantial nuclear capacity back on line to cut a soaring energy import tab – including hefty government subsidies – that makes Japanese industry less competitive and presents one more obstacle to his recovery strategy.

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Uranium Enters Bull Market Amid Russian Sanctions, Strike – by Ben Sharples and Heesu Lee Bloomberg News – September 16, 2014)

http://www.businessweek.com/

Uranium entered a bull market amid new sanctions against Russia over its conflict with Ukraine and a labor strike at the world’s biggest mine in Canada.

The atomic fuel has advanced 21 percent in New York from a May 20 low of $28 a pound, according to data from Ux Consulting Co. in Roswell, Georgia, which provides research on the nuclear industry. Prices closed 1.8 percent higher at $34 yesterday and have averaged $31.87 in 2014.

The U.S. and European Union stepped up their sanctions last week on Russia, which provides enrichment services to western utilities, stoking concern the Ukraine crisis may deepen. In Canada, the United Steelworkers union said Sept. 12 that it had reached a “tentative” agreement with Cameco (CCO) Corp. to end a two-week strike at McArthur River.

“The market may need some more time to digest the recent announcements about McArthur River and additional Russian sanctions to determine any additional impacts on price,” Ux Consulting said in a note dated Sept. 15.

Uranium declined as much as 60 percent since March 2011 when an earthquake and tsunami caused the meltdown of Tokyo Electric Power Co.’s Fukushima Dai-Ichi plant and led to the shutdown of Japan’s nuclear fleet. The nation is seeking to restart reactors as it conducts safety checks, while producers from Kazakhstan to Australia cancel projects and close mines.

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Uranium: Not if but when – by Lawrence Williams (Mineweb.com – September 12, 2014)

http://www.mineweb.com/

Speakers at a uranium seminar in London were all in agreement that uranium prices will rise, but only in the medium to long term.

LONDON (MINEWEB) – Presenters at a uranium seminar organised this week by the London branch of Women in Mining, and sponsored by Fission Uranium, from a broad spectrum of the industry were all in agreement that uranium prices would likely rise substantially, but perhaps not yet – only in the medium to long term. And medium to long is just another way of saying ‘jam tomorrow’, although in this case ‘tomorrow’ will undoubtedly come but price rises may not be significant until perhaps the end of the decade.

The opening keynote was given by Ian Hiscock of commodities research group CRU who reckoned that short term price weakness would remain but that demand for uranium would likely double in the next 20 years with growth in usage for nuclear power generation flat to downwards in the West, due to the probably overdone post Fukushima fallout, but very substantial growth occurring in the East, and in particular in China which has a huge nuclear power development programme in place.

Nuclear power arguably offers the only real major scale non polluting, zero carbon emission technology out there and China sees this as a means for reducing its enormous air pollution problems which beset its major cities from its massive coal-fired power generation sector.

The problem for uranium is that because of its association with atomic weaponry many people live in fear of it – a fear exemplified by the three main nuclear power disasters – Three Mile Island in North America in 1979, Chernobyl in the Ukraine in 1986 and most recently Fukushima in Japan in 2011.

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Tough conditions for cleanup 50 years later of former Saskatchewan uranium mill – by Rob Drinkwater (Lethbridge Herald – August 31, 2014)

http://lethbridgeherald.com/

Edmonton – CANADIAN PRESS – More than 50 years after a Saskatchewan uranium mill that is a key part of Canada’s nuclear history closed, heavy machinery is once again rumbling across the remote northern corner of the province.

But this time workers at the former Lorado mill are cleaning up a massive pile of radioactive, acidic tailings that has poisoned a lake and threatened the health of wildlife and hunters for decades.

“I think we’re a lot more environmentally aware than we were 40 or 50 years ago,” said Ian Wilson with the Saskatchewan Research Council, which is the Crown-owned company that’s carrying out the cleanup.

The Lorado mill is near Uranium City, less than 50 kilometres from the Northwest Territories boundary. It’s where uranium mining once supported a community of up to 5,000 people.

The Canadian Nuclear Safety Commission says the town was one of several in Canada to rise following the Second World War and during a boom in uranium demand that was driven by military needs.

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