Australian news, and some related international items

Toro Energy snatches at a financial straw for Wiluna uranium mine plan


still a long way off from the $260 million they need to start the project and $260 million they need in upfront bonds for mine closure. 

Toro secures $10m in funding. Yahoo News, 24 Dec 13, Toro Energy says it has secured $10 million in new funding from a South African fund manager via an equity subscription agreement.

RealFin Capital Partners will initially invest $5 million in three tranches with the option of Guthrie poisoned-chalice-3another $5 million equity subscription before July 1 next year.

The first tranche of shares will be priced at 7.3 cents with the balance of tranches priced at a 10 per cent discount to the prevailing trading price of Toro at the time.Toro managing director Dr Vanessa Guthrie said the subscription agreement provided further funding certainty for Toro as it looked towards a busy 2014 work program……

December 24, 2013 Posted by | business, uranium, Western Australia | Leave a comment

US – China funding Thorium Nuclear Research with Military Applications

ThoriumSPECIAL REPORT-The U.S. government lab behind China’s nuclear power push Dec 20, 2013  Dec 20 (Reuters) – Scientists in Shanghai are attempting a breakthrough in nuclear energy: reactors powered by thorium, an alternative to uranium.

peaceful-nukeThe project is run by the Chinese Academy of Sciences, a government body with close military ties that coordinates the country’s science-and-technology strategy. The academy has designated thorium as a priority for China’s top laboratories. The program has a budget of $350 million. And it’s being spearheaded by the influential son of a former Chinese president.

But even as China bulks up its military muscle through means ranging from espionage to heavy spending, it is pursuing this aspect of its technology game plan with the blessing – and the help – of the United States. Continue reading

December 24, 2013 Posted by | Uncategorized | Leave a comment

New York State’s leadership on solar energy

More Solar Funding For New York State, Renewable Energy News, 24 Dec 13 Support for solar in New York State received a healthy boost last week, with an additional USD $108 million in funding announced for residential and commercial solar energy projectsStatue-of-Liberty-solar.

The extra cash will be provided over the next two years under the NY-Sun initiative. “Solar power is critical to making our environment healthier and our energy system more resilient,” said New York governor, Andrew M. Cuomo. “The funding approved today will expand the use of clean, renewable power across New York State and ensure we continue to be a national leader in solar energy.”

Governor Cuomo launched the NY-Sun initiative last year and since its inception, 299 megawatts of solar photovoltaic capacity has been installed or is under development in the state. More solar has been installed in New York State since NY-Sun kicked off than had been installed in the entire prior decade.  ….

Also available is the $30 million New York Sun Competitive Photovoltaic (PV) Program for systems larger than 200kW and various other rebates and incentives; including a feed in tariff program for residents of Long Island.

December 24, 2013 Posted by | Uncategorized | Leave a comment

A Christmas nuclear missile test for India, Australia’s nuclear fuel customer

missile-risingIndia test-fires nuclear-capable Agni-III missile  By PTI | 23 Dec, 2013,  BALASORE: India today successfully test-fired its nuclear-capable Agni-III ballistic missile with a strike range of more than 3,000 km as part of a user trial by the Army from Wheeler Island off Odisha coast…

December 24, 2013 Posted by | Uncategorized | Leave a comment