Related Topic: Uranium Resources

Cameco increases uranium purchases to meet contracts

Cameco increases uranium purchases to meet contracts

Production at the Cigar Lake uranium mine in northern Saskatchewan, Canada, resumed near the end of April following the second COVID-19 related shutdown, Cameco said on 7 May whilst announcing its results for the first quarter of 2021. The company said its deliveries to customers in 2020 were not impacted by the pandemic and it does not expect there to be a material impact on its 2021 deliveries. However, it now expects to purchase more uranium in order to meet its supply contracts.

Uranium & Fuel 10 May 2021


Uranium investment company restructures to pursue US listing

Uranium investment company restructures to pursue US listing

Uranium investment company Uranium Participation Corporation has entered into a definitive agreement with Sprott Asset Management LP to convert UPC into the Sprott Physical Uranium Trust and pursue listing on US stock exchanges. Denison Mines Inc's Management Services Agreement with UPC will be terminated, with Denison set to receive a termination payment estimated at CAD5.3 million (USD4.3 million).

Corporate 29 April 2021


Ortalyk stake sale agreement signed

Ortalyk stake sale agreement signed

Kazatomprom has announced the signing of a sale and purchase agreement for the sale of a 49% share of Ortalyk LLP to a subsidiary of China General Nuclear Power Corporation, subject to conditions and governmental approvals.

Corporate 26 April 2021


Orano Mining continues to invest, says Maes

Orano Mining continues to invest, says Maes

Orano is confident about its uranium mining future and will continue to invest in its projects while remaining committed to being a responsible mining company at all stages of operation, Orano Mining CEO Nicolas Maes told delegates at the World Nuclear Fuel Cycle forum today.

Uranium & Fuel 15 April 2021


Kazatomprom put health before profit during pandemic, says Pirmatov

Kazatomprom put health before profit during pandemic, says Pirmatov

The pandemic has shown the resilience of the nuclear industry to act responsibly, both as a supplier of energy and as an employer, the head of the world's biggest uranium producer said today. In his address to delegates at the World Nuclear Fuel Cycle forum, Kazatomprom CEO Galymzhan Pirmatov said the wellbeing of the company's 20,000 employees was his first priority.

Corporate 14 April 2021


Canadian uranium mine and mill to resume operation

Canadian uranium mine and mill to resume operation

Cameco has announced plans to restart production later this month at its Cigar Lake uranium mine in northern Saskatchewan, Canada, which was suspended in December last year in response to the COVID-19 pandemic. Meanwhile, Orano Canada said it will resume production at its McClean Lake uranium mill, where ore from Cigar Lake is processed.

Uranium & Fuel 12 April 2021


Niger uranium mine ends operations after 47 years

Niger uranium mine ends operations after 47 years

Production at the Cominak uranium mine at Akouta in Niger came to an end yesterday after over 40 years of operations during which it produced more than 75,000 tU. The mine has now entered the remediation phase, which will also include action to address the impact of the mine's closure on its employees and on local communities. Cominak's board of directors announced in October 2019 that the mine would close this month due to depletion of its resources.

Uranium & Fuel 01 April 2021


Uranium firms increase inventory from spot market

Uranium firms increase inventory from spot market

Uranium companies in Australia and Canada have announced purchases of physical uranium holdings. Boss Resources says its strategic uranium acquisition will strengthen its position as it moves forward towards the restart of the Honeymoon project in South Australia. Vancouver, Canada-based Uranium Royalty Corp is to buy USD10 million of physical uranium through a supply agreement with Yellow Cake plc.

Uranium & Fuel 30 March 2021


Uranium companies announce strategic purchase plans

Uranium companies announce strategic purchase plans

Uranium companies have separately announced plans to make strategic purchases of physical uranium. Denison is aiming to buy about 2.5 million pounds U3O8 (962 tU) through the spot market as a long-term investment, while Uranium Energy Corp has entered into agreements to purchase 400,000 pounds. UK-based Yellow Cake plc has also announced further purchase plans under its agreement with Kazatomprom.

Uranium & Fuel 16 March 2021


Cameco maintains positive long-term uranium outlook

Cameco maintains positive long-term uranium outlook

Cameco produced only 5 million pounds U3O8 (1923 tU) in 2020 as a result of the COVID-19 pandemic but remains positive about the long-term fundamentals in the uranium market, President and CEO Tim Gitzel said today when announcing its fourth-quarter and year-end results.

Uranium & Fuel 10 February 2021