Comment: Thanks DL for the article! Uranium prices are never stable! Uranium miners lose their job if the price of uranium falls! Sort like a dangerous, life threatening part time job!
By Anna Stablum and Edmond Lococo
Sept. 10 (Bloomberg) -- A U.S. government sale of uranium may drive prices lower over the next few years, said Clark Beyer, managing director of Rio Tinto Uranium Ltd.
A possible U.S. Department of Energy sale “is weighing on everybody’s mind,” Beyer said in an interview in London today. “If they are going to push a large volume into the spot market in the next year or two, then prices will go lower.” Rio Tinto Group is the world’s largest uranium producer.
The uranium market will have a surplus next year for the first time in at least three years as producers increase output faster than demand rises for the nuclear fuel, the London-based World Nuclear Association said in a report today. Secondary sources such as stockpiles will supply 18,711 metric tons in 2010 compared with 17,620 tons this year, the report showed.
“The Department of Energy has from time to time used uranium barter arrangements to fund cleanup work,” Jen Stutsman, a department spokeswoman, said today in an e-mail. “In order to avoid undue market disruption, DOE intends to stay within the 10 percent limit on domestic uranium sales or exchanges as laid out in the Department’s Uranium Management Plan.”
The sale or transfer of U.S. stockpiles to USEC Inc., the biggest domestic supplier of enriched uranium, may add 10 percent to U.S. fuel supplies in 2009 and next year, Max Layton, an analyst at Macquarie Bank Group Ltd. in London, said in an Aug. 10 report. The Department of Energy in July denied a loan guarantee to complete construction of the American Centrifuge plant in Ohio.
Sales Options
“The DOE has been talking about selling uranium and using it as payment for decommission services,” Beyer said, adding one possible plan would be to sell a fixed dollar amount of uranium every quarter. “It would be much better if the DOE appointed a marketing manager who could sell the material on a long-term basis.”
Uranium prices will fall 25 percent this year to an average of $48 a pound and slide as low as $40 by December, Layton said yesterday. The metal for immediate delivery was at $45 a pound as of Sept. 7, according to Roswell, Georgia-based Ux Consulting Co. Uranium rose to a record $136 in July 2007.
Projects in Africa and other “high-cost areas” may have “difficulties getting into production,” Beyer said. He declined to say a price needed to encourage new supply, saying it depended on each particular project.
To contact the reporters on this story: Anna Stablum in London at astablum@bloomberg.net; Edmond Lococo in Boston at elococo@bloomberg.net.
Last Updated: September 10, 2009 18:10 EDT
http://www.bloomberg.com/apps/news?pid=20601081&sid=aAI7WnbY4HHw
Showing posts with label uranium prices down. Show all posts
Showing posts with label uranium prices down. Show all posts
Saturday, September 12, 2009
Thursday, September 3, 2009
Uranium price will remain low
Comment: Why is Virginia pushing uranium mining and the problems with pollution but the main problem are unstable uranium prices! Uranium prices are changing all the time and when the price is low, the uranium corp. will lay people off. Therefore, uranium mining is really a part time job that will kill you in the future! No to uranium mining!
By Christina MacPherson
Uranium price change not expected soon: analyst
Australian Journal of Mining by Paula Wallace Sep 02, 2009
The latest research report from Resource Capital Research shows that a key leading uranium price indicator is currently at US$47.50/lb, indicating there is no significant price change anticipated by the market in the near term………………
………..RCR’s report of global uranium companies reveals that traders are focused on the uranium supply side with the possibility of increased DOE liquidations leading to modest downside pressure……….
The long term contract uranium price is US$65.00/lb down from US$70/lb in December 2008, and relatively stable since peaking at US$95/lb from May 2007 to March 2008.
RCR said the strong uranium production increases continue in Namibia and Kazakhstan.
http://nuclearnewsaustralia.wordpress.com/2009/09/03/uranium-price-will-remain-low/
Uranium price change not expected soon: analyst
Wed, Sep 2, 2009
Uranium Market News
Australian Journal of Mining reports spot uranium price has remained unchanged at US$47.50/lb.
This Fund Implied Price (FIP) indicator currently carries the same valuation as the spot price for uranium.
Since the beginning of July, the FIP has traded in a range from ~US$44/lb to ~US$52/lb. This is up from US$35/lb at the end of March.
RCR’s report of global uranium companies reveals that traders are focused on the uranium supply side with the possibility of increased DOE liquidations leading to modest downside pressure.
“We expect equity performance in the sector will be driven by broader equity market trends in the coming months, and in relation to specific stocks, the achievement of significant project milestones.
http://www.uraniuminvestingnews.com/2130/uranium-price-change-not-expected-soon-analyst.html
By Christina MacPherson
Uranium price change not expected soon: analyst
Australian Journal of Mining by Paula Wallace Sep 02, 2009
The latest research report from Resource Capital Research shows that a key leading uranium price indicator is currently at US$47.50/lb, indicating there is no significant price change anticipated by the market in the near term………………
………..RCR’s report of global uranium companies reveals that traders are focused on the uranium supply side with the possibility of increased DOE liquidations leading to modest downside pressure……….
The long term contract uranium price is US$65.00/lb down from US$70/lb in December 2008, and relatively stable since peaking at US$95/lb from May 2007 to March 2008.
RCR said the strong uranium production increases continue in Namibia and Kazakhstan.
http://nuclearnewsaustralia.wordpress.com/2009/09/03/uranium-price-will-remain-low/
Uranium price change not expected soon: analyst
Wed, Sep 2, 2009
Uranium Market News
Australian Journal of Mining reports spot uranium price has remained unchanged at US$47.50/lb.
This Fund Implied Price (FIP) indicator currently carries the same valuation as the spot price for uranium.
Since the beginning of July, the FIP has traded in a range from ~US$44/lb to ~US$52/lb. This is up from US$35/lb at the end of March.
RCR’s report of global uranium companies reveals that traders are focused on the uranium supply side with the possibility of increased DOE liquidations leading to modest downside pressure.
“We expect equity performance in the sector will be driven by broader equity market trends in the coming months, and in relation to specific stocks, the achievement of significant project milestones.
http://www.uraniuminvestingnews.com/2130/uranium-price-change-not-expected-soon-analyst.html
Tuesday, May 12, 2009
Uranium hopefuls trim plans
By DUSTIN BLEIZEFFER
Star-Tribune energy reporter
Monday, May 11, 2009 2:04 AM MDT
A few prospective uranium mine developments across the West and in Wyoming have lost their glow since spot prices for the mineral tumbled to about $40 per pound, down from a radioactive high of $150 in 2007.
The U.S. Nuclear Regulatory Commission has tracked more than two dozen proposed mine start-ups and restarts in recent years and has already received five new applications. But with the downturn in the economy and the wallowing spot price for uranium, the agency recently asked prospective developers to restate their hope for the future.
“Companies were asked to submit revised plans to the NRC. Some projects have been delayed, some dropped off,” said Bill von Till, branch chief of NRC’s uranium recovery licensing branch.
The NRC said projects no longer under consideration include:
* Strathmore Minerals Corp.’s “Sky” and “Reno Creek” in-situ leach projects and the “Gas Hills” conventional mine proposal, all in Wyoming.
* The addition of a resin elution circuit at Rio Tinto’s Sweetwater conventional mill, which has remained idle for several years in south-central Wyoming.
* Rio Algom’s restart of the Abrosia Lake conventional mill in New Mexico.
* Bayswater Uranium Corp.’s “Alzada” in-situ leach project in Montana.
The uranium mining industry mounted a comeback several years ago, dusting off land records and geologic mapping of ore deposits from the 1970s and 1980s in preparation to launch more than 20 in-situ leach mine operations across the West -- most of them in Wyoming.
So far, the NRC has already received applications for five such operations. Based on updated letters from prospective operators, the agency expects to receive an additional 15 applications by 2012.
“The downturn in the economy has had some effect,” von Till said.
Yet uranium hopefuls are still planning for an invigorated energy market in the long term. Bayswater Uranium Corp. spokesman John Gomez said his company will retain its interest in the Alzada project, for example, and has since acquired a large database of drilling logs in the area so the project can be revisited when the market recovers.
Bayswater continues to compile resource data for another in-situ leach project, Elkhorn in northeast Wyoming.
In response to the wide interest in new in-situ leach uranium mining, the NRC is preparing a generic environmental impact statement. The NRC expects to issue the final document in June, which will initiate another public comment period.
Contact energy reporter Dustin Bleizeffer at 307-577-6069 or {M7dustin.bleizeffer@trib.com. Read his blog at tribtown.trib.com/DustinBleizeffer/blog.
BREAKOUT
Wyoming uranium proposals
(As of March)
Uranerz Energy Corp.
* Main Wyoming properties: Powder River Basin
* Mine type: In-situ
* Projected number of employees: between 65 and 80
Uranium One/Energy Metals Corp.
* Main Wyoming properties: Powder River Basin, Sheep Mountain, Shirley Basin, greater Green River Basin
* Mine type: Mostly in-situ, and some conventional
* Projected number of employees: 200
Strathmore Minerals Corp.
* Main Wyoming properties; Powder River Basin, Gas Hills
* Type of mining; Conventional, in-situ
Ur-Energy Inc.
* Main Wyoming properties: Powder River Basin, Crook County
* Type of mining: In-situ
* Employees: 10 now, 60-80 when fully operational.
COGEMA Mining Co., subsidiary of international uranium companies AREVA NP Inc. and Electricity de France
* Main Wyoming properties: Powder River Basin, Christensen Ranch mine
* Type of mining: In-situ
Wyo uranium in operation
Cameco Corp.
* Main Wyoming properties: Powder River Basin
* Type of mining: In-situ
* Employees: 140
http://www.casperstartribune.net/articles/2009/05/12/news/wyoming/989283f63512d850872575b20020f8e0.txt
Star-Tribune energy reporter
Monday, May 11, 2009 2:04 AM MDT
A few prospective uranium mine developments across the West and in Wyoming have lost their glow since spot prices for the mineral tumbled to about $40 per pound, down from a radioactive high of $150 in 2007.
The U.S. Nuclear Regulatory Commission has tracked more than two dozen proposed mine start-ups and restarts in recent years and has already received five new applications. But with the downturn in the economy and the wallowing spot price for uranium, the agency recently asked prospective developers to restate their hope for the future.
“Companies were asked to submit revised plans to the NRC. Some projects have been delayed, some dropped off,” said Bill von Till, branch chief of NRC’s uranium recovery licensing branch.
The NRC said projects no longer under consideration include:
* Strathmore Minerals Corp.’s “Sky” and “Reno Creek” in-situ leach projects and the “Gas Hills” conventional mine proposal, all in Wyoming.
* The addition of a resin elution circuit at Rio Tinto’s Sweetwater conventional mill, which has remained idle for several years in south-central Wyoming.
* Rio Algom’s restart of the Abrosia Lake conventional mill in New Mexico.
* Bayswater Uranium Corp.’s “Alzada” in-situ leach project in Montana.
The uranium mining industry mounted a comeback several years ago, dusting off land records and geologic mapping of ore deposits from the 1970s and 1980s in preparation to launch more than 20 in-situ leach mine operations across the West -- most of them in Wyoming.
So far, the NRC has already received applications for five such operations. Based on updated letters from prospective operators, the agency expects to receive an additional 15 applications by 2012.
“The downturn in the economy has had some effect,” von Till said.
Yet uranium hopefuls are still planning for an invigorated energy market in the long term. Bayswater Uranium Corp. spokesman John Gomez said his company will retain its interest in the Alzada project, for example, and has since acquired a large database of drilling logs in the area so the project can be revisited when the market recovers.
Bayswater continues to compile resource data for another in-situ leach project, Elkhorn in northeast Wyoming.
In response to the wide interest in new in-situ leach uranium mining, the NRC is preparing a generic environmental impact statement. The NRC expects to issue the final document in June, which will initiate another public comment period.
Contact energy reporter Dustin Bleizeffer at 307-577-6069 or {M7dustin.bleizeffer@trib.com. Read his blog at tribtown.trib.com/DustinBleizeffer/blog.
BREAKOUT
Wyoming uranium proposals
(As of March)
Uranerz Energy Corp.
* Main Wyoming properties: Powder River Basin
* Mine type: In-situ
* Projected number of employees: between 65 and 80
Uranium One/Energy Metals Corp.
* Main Wyoming properties: Powder River Basin, Sheep Mountain, Shirley Basin, greater Green River Basin
* Mine type: Mostly in-situ, and some conventional
* Projected number of employees: 200
Strathmore Minerals Corp.
* Main Wyoming properties; Powder River Basin, Gas Hills
* Type of mining; Conventional, in-situ
Ur-Energy Inc.
* Main Wyoming properties: Powder River Basin, Crook County
* Type of mining: In-situ
* Employees: 10 now, 60-80 when fully operational.
COGEMA Mining Co., subsidiary of international uranium companies AREVA NP Inc. and Electricity de France
* Main Wyoming properties: Powder River Basin, Christensen Ranch mine
* Type of mining: In-situ
Wyo uranium in operation
Cameco Corp.
* Main Wyoming properties: Powder River Basin
* Type of mining: In-situ
* Employees: 140
http://www.casperstartribune.net/articles/2009/05/12/news/wyoming/989283f63512d850872575b20020f8e0.txt
Saturday, May 2, 2009
Cameco Q1 net profit falls 40 per cent on weak uranium and gold results
Comment: did I hear someone say the uranium from Virginia will stay in the states, don't think so!!! Uranium Mining co are losing money so they are depending on future Nuke plants built outside US!!!
10 hours ago
TORONTO — Cameco Corp. (TSX:CCO) said Friday its first quarter profit fell by 40 per cent compared with the same period last year on weaker results from its uranium and gold businesses and higher costs.
Cameco chief executive Jerry Grandey said the company's costs of sales are expected to rise by 15 to 20 per cent as it purchases uranium at "substantially" higher prices than its cost of production to take advantage of trading opportunities.
"While we are reporting lower net earnings than the comparable quarter of 2008, a major component of that change relates to opportunities Cameco finds in the uranium market," Grandey said in a conference call Friday.
"Our reason for purchasing in the first quarter was for one purpose only: to seize trading opportunities which our marketing staff identified."
He added that he expects the higher costs to be offset down the road.
"We will realize additional revenue and earnings as we deliver the purchased material to our customers," Grandey said.
The world's biggest uranium miner, which also has nuclear power generation and gold businesses, said its first-quarter profit fell to $82 million or 22 cents a share from $133 million or 39 cents a share a year earlier. Revenues rose to $615 million from $593 million.
The Saskatoon-based company said it generated lower earnings in the uranium and gold businesses, but that was partially offset by improved results in its electricity division.
Cameco is working on exiting the gold business and expects higher uranium prices to bolster its results in the future, Grandey said.
"Investors should rest assured that our customers both current and potential need secure long-term uranium supply as nuclear power generation expands, an expansion that is real and happening now."
Ten new nuclear reactors are currently under construction and Grandey said he expects 95 new reactors to come online over the next 10 years. He said many of these reactors are in Asia, where utilities are investing in mine development and buying future supply.
"In doing so, they see that securing fuel for their reactors must cover the cost of bringing new deposits into production, and this bodes well for the long-term price of uranium," he said.
The spot price of uranium fell dramatically as the global financial crisis cut industrial demand for electricity, from US$90 a pound at the beginning of 2008 to $40 a pound in early 2009.
It has since rebounded slightly to about $44 a pound, and Grandey said he expects it has hit bottom and will continue its upward trajectory.
Cameco has uranium mines, mills, conversion plants and exploration projects in Saskatchewan, Ontario, the United States and Australia. It also has a controlling stake in Centerra Gold (TSX:CG), a Toronto-based miner with operations in central Asia.
Last month, Cameco agreed to transfer a stake in Centerra Gold to the Kyrgyz Republic in a move that resolved a dispute over the Kumtor gold mine, Centerra's main asset.
When the deal is finalized, the Central Asian government would own up to 33 per cent of Centerra, Cameco at least 37.8 per cent, and remaining shareholders about 29.2 per cent.
Cameco estimates it had a pre-tax loss of about $113 million at the end of the quarter because of the agreement, as well as an after-tax recovery of $17 million from prior years.
On the electricity side, Cameco is a key partner in the Bruce Power nuclear power plant on the shores of Lake Huron in southwestern Ontario.
Grandey cautioned that Bruce Power's earnings could decline by five to 10 per cent for 2009 because of "projected lower realized prices."
Cameco also continues to work on cleaning up flooding problems at its Cigar Lake development project in Saskatchewan, a project expected to take most of 2009 to complete.
"We know that many of you are impatient to see development resume," Grandey told investors and analysts. "We are too, but we intend to do it systematically to assure success at each stage. Like one of Faberge's eggs, the ore body is too valuable to cut corners in its development."
Cameco shares were up $1.36 or almost five per cent to $28.76 in afternoon trading on the Toronto Stock Exchange.
http://www.google.com/hostednews/canadianpress/article/ALeqM5jCJGNwbY399sZQVVIM8LQzuoGpnQ
10 hours ago
TORONTO — Cameco Corp. (TSX:CCO) said Friday its first quarter profit fell by 40 per cent compared with the same period last year on weaker results from its uranium and gold businesses and higher costs.
Cameco chief executive Jerry Grandey said the company's costs of sales are expected to rise by 15 to 20 per cent as it purchases uranium at "substantially" higher prices than its cost of production to take advantage of trading opportunities.
"While we are reporting lower net earnings than the comparable quarter of 2008, a major component of that change relates to opportunities Cameco finds in the uranium market," Grandey said in a conference call Friday.
"Our reason for purchasing in the first quarter was for one purpose only: to seize trading opportunities which our marketing staff identified."
He added that he expects the higher costs to be offset down the road.
"We will realize additional revenue and earnings as we deliver the purchased material to our customers," Grandey said.
The world's biggest uranium miner, which also has nuclear power generation and gold businesses, said its first-quarter profit fell to $82 million or 22 cents a share from $133 million or 39 cents a share a year earlier. Revenues rose to $615 million from $593 million.
The Saskatoon-based company said it generated lower earnings in the uranium and gold businesses, but that was partially offset by improved results in its electricity division.
Cameco is working on exiting the gold business and expects higher uranium prices to bolster its results in the future, Grandey said.
"Investors should rest assured that our customers both current and potential need secure long-term uranium supply as nuclear power generation expands, an expansion that is real and happening now."
Ten new nuclear reactors are currently under construction and Grandey said he expects 95 new reactors to come online over the next 10 years. He said many of these reactors are in Asia, where utilities are investing in mine development and buying future supply.
"In doing so, they see that securing fuel for their reactors must cover the cost of bringing new deposits into production, and this bodes well for the long-term price of uranium," he said.
The spot price of uranium fell dramatically as the global financial crisis cut industrial demand for electricity, from US$90 a pound at the beginning of 2008 to $40 a pound in early 2009.
It has since rebounded slightly to about $44 a pound, and Grandey said he expects it has hit bottom and will continue its upward trajectory.
Cameco has uranium mines, mills, conversion plants and exploration projects in Saskatchewan, Ontario, the United States and Australia. It also has a controlling stake in Centerra Gold (TSX:CG), a Toronto-based miner with operations in central Asia.
Last month, Cameco agreed to transfer a stake in Centerra Gold to the Kyrgyz Republic in a move that resolved a dispute over the Kumtor gold mine, Centerra's main asset.
When the deal is finalized, the Central Asian government would own up to 33 per cent of Centerra, Cameco at least 37.8 per cent, and remaining shareholders about 29.2 per cent.
Cameco estimates it had a pre-tax loss of about $113 million at the end of the quarter because of the agreement, as well as an after-tax recovery of $17 million from prior years.
On the electricity side, Cameco is a key partner in the Bruce Power nuclear power plant on the shores of Lake Huron in southwestern Ontario.
Grandey cautioned that Bruce Power's earnings could decline by five to 10 per cent for 2009 because of "projected lower realized prices."
Cameco also continues to work on cleaning up flooding problems at its Cigar Lake development project in Saskatchewan, a project expected to take most of 2009 to complete.
"We know that many of you are impatient to see development resume," Grandey told investors and analysts. "We are too, but we intend to do it systematically to assure success at each stage. Like one of Faberge's eggs, the ore body is too valuable to cut corners in its development."
Cameco shares were up $1.36 or almost five per cent to $28.76 in afternoon trading on the Toronto Stock Exchange.
http://www.google.com/hostednews/canadianpress/article/ALeqM5jCJGNwbY399sZQVVIM8LQzuoGpnQ
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