Tag: uranium

Kopore Metals Limited (ASX:KMT) has entered into a binding share sale agreement with Endeavour Financial AG to acquire 100% of Endeavour’s uranium project in the Agadez region of Niger. Under the deal Kopore will acquire Endeavour’s wholly owned subsidiary EF Niger Exploration SARL. The Project comprises three granted exploration permits (Permits) and one exploration licence application in the highly prospective Tim Mersoi Basin, considered one of the world’s major uranium producing areas. The Permits host the same geology that is represented at Orano’s Cominak (now shut down) and Somair mines and the Imouraren (Orano), Madaouela (Goviex) and Dasa (Global Atomic) projects. According to the World Nuclear Association, Niger was the 6th largest producer of uranium in 2021 and has been…

URANIUM producer Energy Resources of Australia has come close to exceeding its upper production guidance for 2019 and has realised slightly higher prices for its uranium oxide product. ERA stated it expects the uranium market to remain challenging in the near term, with the market’s surplus expected to continue into the medium term. “China-led demand growth is expected to support a rebalancing of the market over the longer term as China and other Asian countries continue to progress their nuclear power programs in accordance with long-term energy policy objectives,” ERA stated in its 2019 results announcement on Wednesday. ERA achieved an average price of US$41.89/pound last year on all sales of its uranium oxide product including contracted sales and spot…

PALADIN Energy has completed the first of a two-part prefeasibility study (PFS1) to assess the restart of its Namibian uranium mine, Langer Heinrich. The company said that it can return to production after a rapid 12-month ramp-up and would require about US$80m to return to production levels of about 5.2mlb pa. The capital would be divided into US$38m needed for plant repair and US$42 needed for working capital. Production could increase to about 6.5mlb pa through expansion of the mine during the ramp-up period, which the company said would target the processing of high and medium-grade ore over a six-year period at an additional cost of $US30m. PFS1 put the mine potentially back in production within 12 months of securing…

From under the yoke of the 2011 Fukushima disaster, nuclear energy has found a groundswell of international demand building at a time when international surpluses are dwindling. However, Australia’s complicated relationship with the heavy element has seen production rates at historical lows. Global production of uranium has fallen at a time when demand has increased due to heavy losses sustained by Canadian and Kazakh producers. With prices rising steadily since 2018 to an average of US$28.90 a pound in April, most of the increase took place in the second half of 2018, and remains well above the November 2016 low of US$18/lb. While the increase in price has taken some of the pressure off uranium suppliers who have been selling output…