2010 a slump year for Australia’s uranium
Poor year for Australian uranium, World Nuclear News, 25 January 2011 Australia’s uranium production took a hit during 2010, with the lowest volumes since 1998.
Total production was 6957 tonnes of uranium oxide (5899 tonnes of uranium, tU), compared to a high of 10,277 tonnes (8715 tU) in 2008, after problems including high rainfall at Energy Resources of Australia’s Ranger mine and the mid-year haulage system accident at BHP-Billiton’s Olympic Dam……Poor year for Australian uranium
Wet weather, low grade ore, means low output for Ranger uranium mine
“We had lower grade because of access to the pit and because of the longer wet season and geological issues,”….”When we had access to the bottom of the pit, it, the grade level, was not as we were expecting,
Shortfall the pits NT News NICK CALACOURAS | January 19th, 2011 ENERGY Resources Australia was forced to buy more than 600 tonnes of uranium to meet commitments after the Ranger mine produced a shortfall of ore. Continue reading
28% drop in REA’s Ranger uranium output
Energy Resources Australia uranium output down 28% – MarketWatch, By David Fickling, SYDNEY 13 jan 2011, — Uranium oxide produced from Energy Resources of Australia Ltd.’s (ERA.AU) Ranger mine fell 28% on the year in 2010, dropping from 5,250 metric tons in 2009 to 3,793 tons, the company said Thursday.
ERA: drastic drop in uranium miner’s profit
ERA slashes profit forecast, The Age, December 22, 2010 The uranium producer Energy Resources Of Australia disappointed investors by flagging lower than expected profits and fewer reserves at Ranger mine.ERA said it expected an after-tax profit of between $45 million and $55 million in 2010. It made $272.6 million in 2009. Analysts had expected a profit of about $84 million.It said lower production had forced it to buy uranium oxide to meet sales commitments. Prices were also below average. Shares closed down $1.22, or 9.3 per cent, at $11.95. ERA slashes profit forecast
Rooftop solar power, solar jobs, growing in Australia
The group’s 2010 report also predicted more than 55,000 jobs would be created in the industry by 2020, up from about 8085 now.
Green Australia turns to solar power | The Daily Telegraph, Cameron England , 22 Dec 10, THERE were more than 100,000 solar power systems installed across Australia last year which is more than in the previous decade combined. Continue reading
Australia too dry for nuclear, but ready for renewables
nuclear power is based on a finite resource and requires enormous amounts of cooling water, limiting possible locations within Australia to our already crowded coastlines. Dry cooling or hybrid systems do exist but are not suited to hot climates such as ours…..
…[Australia should ] be growing a new industry with the potential to generate value for the nation through the export of renewable energy expertise and technology to a carbon-constrained world……
Too late for nuclear – The Drum (Australian Broadcasting Corporation), Vassilios Agelidis 7 Nov 10, ………..the course of events in Australia up till now means that, even if we opted for nuclear tomorrow, it will not be possible any time soon, and the reality is it should not be pursued at all because it’s simply not our best option…… Continue reading
Cameco Paladin uranium companies having second thoughts on Alice Springs mine plan
Cameco Paladin says the Government’s decision to oppose any plans to mine the Angela Pamela site, despite granting the company an exploration licence, has created uncertainty for the project.
Mining company reconsiders scale of uranium project, – ABC News (Australian Broadcasting Corporation), By Amy Marshall d Mon Nov 8, 2010 A mining company exploring for uranium at a site near Alice Springs says it will reconsider the scale of its project in light of opposition from the Northern Territory Government. Continue reading
Uranium stocks’ bubble slowly fizzling out
In the background, spot uranium prices have disappointed for years, after a monster bubble peak during 2007…….A number of fortunate stocks have taken opportunities to de-emphasise uranium; some really lucky ones have bailed all together………
Whatever happened to uranium stocks? – Mineweb, by Barry Sergeant, 20 Oct 10, JOHANNESBURG – Whatever happened to uranium stocks? At the beginning of 2009, Australia-listed Extract Resources was trading just above AUD 1.00 a share, Continue reading
BHP Billiton’s carbon tax policy aimed to promote its uranium mine
BHP has an interesting little asset called Olympic Dam in South Australia where it is considering a major series of upgrades. Expanded Olympic Dam output would exceed one quarter of global mined uranium. …..Olympic Dam is the world’s largest known uranium deposit,
BHP: A Wolf in Sheep’s Clothing? The Star, by Mark Taylor | 15 Oct 10 Why would BHP BHP CEO Marius Kloppers express support for a carbon tax? The mining industry has its fair share of climate skeptics. Geologists and model-based climatologists have very different views of the world. Does BHP stand to gain or lose from a carbon tax? Continue reading
ERA’s uranium profit fell 82% !
ERA in July reported an 82% plunge in first-half net profit to 22.7 million Australian dollars (about US$22.4 million), largely thanks to the lower ore grades.
Uranium Miner Expects Profit Hit – WSJ.com, By ROSS KELLY, 14 Oct 10, SYDNEY—Energy Resources of Australia Ltd., the uranium arm of mining giant Rio Tinto, on Wednesday downgraded its annual production guidance for the second time this year, ….The production shortfall means ERA will have to cover some supply requirements with purchases, further eroding its earnings. Continue reading
Uranium miner ERA: costs high, profits low
‘This is expected to adversely impact ERA’s 2010 earnings, as the small price margin associated with the sale of the purchased material is more than offset by the ongoing costs of operation,’’ the company said.
ERA shares fall on production downgrade, Sydney Morning Herald, October 13, 2010 – 1 Uranium miner Energy Resources of Australia has downgraded its 2010 production guidance, saying ore grade in the September quarter was lower than expected. Continue reading
Australian miner Paladin backing out of deal because of share price fall
Paladin pallid at prospect of insecurity in Niger, The Age, David Symons, September 30, 2010 “…..Take a step back, and it’s tempting to surmise that Paladin’s efforts to back away from the acquisition have nothing to do with the kidnappings in Arlit……For its part, the market is overly sceptical regarding NGM’s prospects. If it goes through, the Paladin offer works out at about 15¢ for each NGM share. But NGM shares closed yesterday at 9.2¢, down 39 per cent.
Terrorism in Niger causes Australian uranium miner Paladin to pull out
According to Paladin, on September 16, forces associated with al-Qa’ida kidnapped the seven people employed by French uranium company Areva and its contractor, Vinci, from the town of Arlit in Niger’s uranium mining region.
Areva has subsequently evacuated expatriate personnel and France has dispatched anti-terrorism forces to the region
NGM Resources shares fall as Paladin bid is threatened * Michael Bennet * The Australian * September 29, 2010 NGM Resources shares today plunged 43 per cent on the likelihood Paladin Energy’s takeover offer will fall through….. Continue reading
Slowdown in BHP Billiton’s Olympic Dam expansion plans
BHP May Consider Phased Olympic Dam Mine Expansion, Review Says By Jacob Greber Sept. 28 (Bloomberg) — BHP Billiton Ltd. told analysts it’s considering a revised expansion of its Olympic Dam copper- uranium mine in South Australia, the Australian Financial Review said. The company is considering a phased expansion, resulting in a slower increase in production than originally anticipated, the newspaper reported, without saying where it got the information. BHP May Consider Phased Olympic Dam Mine Expansion, Review Says – BusinessWeek
Uranium mining project for Whyalla
UraniumSA triples resource for South Australian project near Whyalla to 10,400 tonnes of uranium oxide
– New Mullaquana Inferred estimate of 38.7Mt containing 10,400 tonnes of U3O8 (equivalent to 22.9 million pounds) at an average grade of 275 ppm eU3O8. – Up from initial estimate of 2,700t
1 This month
of the week – Australians for War Powers Reform (AWPR)
To see nuclear-related stories in greater depth and intensity
Antinuclear 