Australia’s Nuclear Reactor Agency cutting staff, reducing costs
there will be reductions in fixed costs and around 80 staff of ANSTO’s workforce of 1,009.”
Nuclear body ANSTO to cut 80 staff, cheap nike air, by selena on July 23rd, 2010 Continue reading
World’s biggest uranium hole, BHP’s Olympic Dam. in doubt
“we are hearing from engineering circles that BHP has gone cold on the project. And it’s my gut feeling that the enthusiasm isn’t quite there any more.” – shadow mining minister Mitch Williams
Hole lot of trouble for BHP – The Independent Weekly, KEVIN NAUGHTON, 17 Jul, 2010 BHP Billiton’s Clark Shaft at Olympic Dam is set to return to full production, ending a nine-month lull in copper and uranium output.
But the news comes as speculation again surfaces about the company’s long-term plans for the mine…….
Australia’s uranium not looking like a good investment
Uranium Struggles FNArena News – July 13 2010 By Greg Peel “……..Given uranium being “out of favour” in Citi’s eyes, the broker last week downgraded its earnings forecasts for Australia’s two major pure-play uranium producers, Paladin Energy (PDN) and Energy Resources of Australia ((ERA)). Citi suggests the uranium market looks adequately supplied for now.
Paladin copped a 40% earnings forecast reduction in FY11-12 due to lower than expected spot prices and higher than expected costs, leading to a target price reduction from $5.40 to $4.40 (FNArena consensus $4.09). ERA’s cut is only 6-9% in FY11-12 given the offsetting drop in the Aussie dollar, but Citi’s target falls from $23.30 to $15.10 (consensus $16.92).
Prices down and extreme weather affected uranium mine
Uranium output to fall 18 per cent: ERA | The Australian, 14 July 2010, ENERGY Resources of Australia (ERA) has flagged a drop in uranium oxide production of up to 18 per cent a year after its first-half output slumped, due largely to record rainfall affecting operations. Shares in ERA closed 68¢, or 4.62 per cent, lower at $14.05. Continue reading
Many mining companies worse off in Gillard’s new tax plan
BHP Billiton pays the South Australian government an embarrassing 3.5 per cent royalty for the uranium it extracts in the state’s north. As a result of the Gillard compromise it has escaped paying a resource rent tax of 40 per cent but regained a huge sovereign risk.
Sovereign risk back on the resources table, Sydney Morning Herald, PETER MARTINJuly 7, 2010 Have many mining companies been made worse off by of the changes made by Julia Gillard?…….. Continue reading
Gloomy outlook for uranium share price
“The lack of movement of uranium price is the reason investors are not active. There is no incentive to invest if there is no movement in the underlying commodity.”
Mining Weekly 30 June 2010, “……………the market valuation fell over the past month, with Australian companies suffering a 4% decline and Canadian uranium firms a 2% drop.
Over the past three months, the market valuation fell by 16% for Australian miners and 15% for Canadian miners……most companies had seen share prices drop over the last three months.
ERA suffered a 27% drop in its three-months share price,
Stalled price tanks stocks | The Energy Collective 29 June Uranium price likely to remain flat for next few years – falling prices “…..A review of 12 Canadian uranium mining stocks – three producers and nine juniors – show a dismaying trend since December 2009.
Every quarter FCW compiles tracking information on stock prices across a selected list of producers and juniors. The trends for these companies as of June 11, 2010, is an unmistakable dive from prior values. Of the 12 stocks on our list , seven have seen their prices drop by more than 20% and three have seen their stock prices drop by more than 10%……..
“The lack of movement of uranium price is the reason investors are not active. There is no incentive to invest if there is no movement in the underlying commodity.”
The Uranium Mining Gamble
The gambling is going on in both uranium markets. Some corporations gamble on selling old weapons uranium. Others gamble on digging uranium out of the ground and selling it – (if it goes belly up – well in Australia they’ll try to blame the Rudd government)
Companies Bet on Market for Enriched Uranium, Online Casino Guide, 21 June 2010, Changes in technology and vagaries like future arms control agreements can affect companies like Urenco and USEC.
Companies Bet on Market for Enriched Uranium | Online Casino Guide
…. projects such as BHP’s uranium and copper mine at Olympic Dam in South Australia. This requires billions of dollars in upfront investment projected to be recouped by cash flows in 2020 or later. The relatively high rate of return required is a function of many risks, including cost pressures and assumptions about the uranium market in 2020….. FT.com 20 June 2010,
Northern Territory to become China’s uranium colony?
Uranium powers Chinese interest in NT Northern Territory News |NADJA HAINKE May 28th, 2010
CHINA is turning to the Northern Territory to source uranium in its ever-increasing need for power. Territory Uranium Company has received immense attention from several Chinese businesses wanting to invest in its exploration projects in the NT.
//But it is believed no solid agreements have yet been reached…..Managing director Ian Bamborough said …… Territory Uranium Company was keen to sell off about 50 per cent of its shares as more funding would mean more drilling…………
……One of the prospects getting particular interest from Chinese businesses is the Daly River project, about 350km south of Darwin…….
Environmental surveys and negotiations with traditional owners have yet to be completed. Uranium powers Chinese interest in NT | Northern Territory News | Darwin, Northern Territory, Australia | ntnews.com.au
Millions of jobs in carbon cuts and green technologies
”The report shows regional areas, even those which produce coal and generate electricity will have more jobs if we take strong action to cut pollution, but only if we act now,”
Carbon scheme ‘will create millions of jobs’ The Age, TOM ARUP, May 19, 2010, BIG cuts to carbon emissions and heavy investment in green technologies will create 3.7 million jobs across Australia by 2030, economic modelling commissioned for unions and green groups shows. Continue reading
BHP blaming govt for uncertain future of uranium mining
he told an uranium summit in Perth that the project was “under review”,
BHP says Western Australia uranium project ‘under review’ Mining Weekly Esmarie Swanepoel 11th May 2010 Continue reading
Central Australian uranium project not viable due to low prices
Australia should not become just the land of quarries and waste dumops
We will all pay for that when the global miners are gone – or we won’t be able to afford to pay for a clean-up at all and just leave the holes in the ground.
Curse of The Resource Rich may Befall Us, Sydney Morning Herald, MARTIN FEIL, April 30, 2010
The government and the media generally promote Australia’s resources boom as a blessing for the economy in difficult global times. Our land seems to be regarded as a magic pudding that will never stop feeding our growing population. All we have to do is dig. Continue reading
Uranium Enrichment company Silex now runs Solar Firm
the re-opening of the plant will force a moral dilemma on go-greeners in the country. Do they really want to invest in Australian-made solar panels, when they will also, indirectly, be investing in nuclear energy?
Sydney’s largest solar panel plant rescued from the brink of extinction, Photovoltaics International27 April 2010 | By Emma Hughes “……As BP closed its doors for the final time, Australia’s PV manufacturing industry looked like it would never again see the light of day. Continue reading
Australian uranium companies scouting for investment from India
Australia looking for investors in infrastructure sector, Thaindian News Kolkata, April 23 (IANS) Australia wants India to share costs with it in infrastructure projects required to support the mining expansion projects in that country, an official said here Friday.Damian Papps, director for investments, department of trade & economic development of South Australia, said the country was scouting for investors in India for this. Australia looking for investors in infrastructure sector
ANSTO hoping to get into a lucrative nuclear waste disposal business
Australia ‘to lead in N-waste treatment’April 15, 2010 – New Internationalist Australia is poised to lead the world in providing technology to clean up dangerous nuclear waste, the head of the Australian Nuclear Science and Technology Organisation (ANSTO) has announced in the US. Continue reading
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