Bad News for Uranium Mining

Comment: Postings of Money Problems for Mining Industry and Workers: (just click links for the whole article)

http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=79276&sn=Detail

Miners anticipate wave of bankruptcies as more explorers forced out of business.
The newly released 2008/2009 Fraser Institute Annual Survey of Mining Companies finds some miners believe the current industry shake-out will be good for mining.

Author: Dorothy Kosich, Posted: Friday , 27 Feb 2009RENO, NV -

The annual Fraser Institute survey released Thursday found many in the mining industry expect a large number of bankruptcies with some believing that more than half the exploration companies will be forced out of business.More than half the respondents believe that exploration and development activities of junior explorers will decline "a great deal," while nearly 85% say the activities of production companies will be curtailed.

http://www.northernontariobusiness.com/Around-the-North/thisweek/NAP-has-bad-year,-but-optimistic-for-2009.aspx

NAP has bad year, but optimistic for 2009
By: Northern Ontario Business Staff

North American Palladium (NAP) posted a $160.7 million loss for 2008, including a fourth quarter loss of $112 million. Because of a drop in metal prices, the Toronto-based miner shut down its Lac des Iles mine in northwestern Ontario in the last quarter.

http://www.mineweb.com/mineweb/view/mineweb/en/page72103?oid=77926&sn=Detail

Economic downturn means uranium companies face huge challenge

In a news release, Strathmore CEO David Miller said, "The current downturn has created a greater challenge for uranium companies than any time during the past ten years. "

http://www.reuters.com/article/rbssUtilitiesElectric/idUSSEO6930720090302

S.Korea scraps uranium deals on weak prices-report

SEOUL, March 2 (Reuters) - State-run Korea Electric Power Corp (015760.KS) has cancelled two preliminary deals to develop uranium mines in the United States and Slovakia due to weak product prices, local media reported on Monday, citing officials from the energy firm.

http://www.reuters.com/article/companyNewsAndPR/idUSN1326573420090214

UPDATE 1-Cameco profit falls despite higher revenue

NEW YORK, Feb 13 (Reuters) - Canada's Cameco Corp (CCO.TO) said on Friday its fourth-quarter profit nearly halved despite higher sales and earnings from its gold and uranium business.The world's top uranium producer earned C$31 million ($25 million), or 8 cents a share, in the three months ending Dec. 31. That was down from C$61 million, or 17 cents a share, in the year-earlier period.