Uranium projects uneconomic due to weak uranium prices
DJ ERA: Weak Uranium Prices, Weak USD Makes Projects UneconomicMon. TRADING MARKETS November 09, 2009; SYDNEY, Nov 09, 2009 Dow Jones Commodities News via Comtex) – Uranium miner Energy Resources of Australia Ltd. (ERA.AU), a unit of Rio Tinto Plc (RTP), said Tuesday weak uranium prices as well as the weak U.S. dollar would render new mining projects uneconomic in the longer-term.
This would leave the market heavily dependent on expansions in Kazakstan, in an industry where the global financial crisis was likely to slow new reactor build……………………
Job losses at BHP’s uranium mine
Olympic mine job losses The Age BARRY FITZGERALD November 7, 2009 BHP Billiton has warned of job losses among its contractor workforce at the damaged Olympic Dam copper-gold-uranium mine in South Australia Continue reading
Olympic Dam uranium mine outage: jobs at risk?
Long outage expected for Olympic Dam THE AUSTRALIAN Matt Chambers | October 22, 2009 BHP Billiton has confirmed that damage to its Olympic Dam underground copper and uranium mine, caused by a plummeting fully loaded ore skip, will keep the operation at one-quarter capacity for up to six months. …… Continue reading
BHP’s uranium mine to miss deliveries
BHP Declares Force Majeure on Olympic Dam Contracts By Brett Foley Oct. 20 (Bloomberg) –– BHP Billiton Ltd. declared force majeure on some supply contracts after the closure of a shaft at Australia’s Olympic Dam, the world’s largest uranium deposit and the fourth-biggest copper lode.
The Australian company has told affected customers of the disruption to shipments, London-based spokeswoman Bronwyn Wilkinson said today in an e-mailed statement.
Force majeure is a legal clause allowing a company to miss deliveries because of circumstances beyond its control.
BHP, the world’s largest mining company, is still investigating damage caused by a mechanical failure to the hoist system at the mine’s Clark shaft two weeks ago.
BHP Declares Force Majeure on Olympic Dam Contracts (Update1) – Bloomberg.com
Olympic Dam uranium mine jobs at risk
Workers fear lay-offs as they wait for repairs
Sydney Morning Herald BARRY FITZGERALD
October 15, 2009
There have been no lay-offs among the 3000 employees and contractors at BHP Billiton’s Olympic Dam copper, uranium and gold mine in South Australia after the loss of 80 per cent of the underground mine’s hoisting capacity.
But with speculation continuing that the Clark shaft could take up to six months to repair, fears are growing in the outback town that services the mine, Roxby Downs, that BHP could soon be forced to resort to a skeleton workforce.
BHP is still not commenting on the likely impact of the October 6 incident and will not confirm reports that the 850-metre Clark shaft was knocked out of action when a fully loaded ore skip crashed. Automated ore-loading equipment at the bottom of the shaft and winding gear – including a four-kilometre cable – on the surface were damaged………….Leading analysts have tipped that the Clark shaft could be inoperative for between two and six months. The Clark shaft accounts for about 80 per cent of the 10 million tonne-a-year mining operation. http://www.smh.com.au/business/workers-fear-layoffs-as-they-wait-for-repairs-20091014-gxic.html
Nuclear power for Australia – impractical and problematic
The Age 13 Oct 09 Is nuclear power the only way to meet Australia’s future energy needs and cut carbon emissions? Geoff Strong and Ian Munro report.
“…………….. La Trobe University professor Joseph Camilleri. ”I don’t think we have anywhere near a fully fledged, widely accepted, long-term system of waste disposal. Until and unless that comes through … to be thinking of a substantial expansion of the industry is foolhardy,” he says. Continue reading
Olympic Dam – 80% out of action for 6 months?
Olympic Dam accident threatens output THE AUSTRALIAN Matt Chambers | October 09, 2009
BHP Billiton’s giant Olympic Dam underground mine could be running at just 20 per cent capacity for up to six months, analysts say, after a loaded iron skip plummeted to the bottom of the 800m-deep main shaft. Continue reading
BHP Billiton tight-lipped about virtual shut-down of Olympic Dam
Accident slashes Olympic Dam output – THE AUSTRALIAN Matt Chambers | October 08, 2009
BHP Billiton’s giant Olympic Dam underground mine in South Australia could be running at less than half capacity for months after a mechanical failure sent a full load of ore plummeting to the bottom of its 800m-deep main shaft. Continue reading
Russian uranium company to join Cameco in Central Australia
Russia‘s ARMZ in talks with Cameco on uranium mining
MOSCOW, Oct 1 (Reuters) – State-controlled Russian uranium miner ARMZ Holding is in talks with Canada’s Cameco Corp (CCO.TO) on possible mining joint ventures in Australia and Africa, the company’s deputy head said on Thursday…… The idea arose, he said, because a joint venture with Cameco in Russia had stalled due to laws limiting foreign access to strategic mineral resources. (Reporting by Polina Devitt, writing by Robin Paxton, editing by Maria Kiselyova) http://www.reuters.com/article/euMergersNews/idUSL112565120091001
Uranium investing future not all it’s cracked up to be
Uranium hunt could have sour fallout the Age BARRY FITZGERALD AND MATHEW MURPHY September 30, 2009 “………..In contrast with the rest of the metals sector since mid-February, uranium prices have been going backwards. Continue reading
A caution about Australia’s uranium future
Australia’s Uranium, by Greg Baker. Parliament of Australia Research paper Sept 2009 “….. Australian and worldwide concerns about the environmental and health dangers of mining and using uranium, the need to store nuclear fission products for very long periods of time and the issues concerned with the decommissioning of nuclear electricity reactors at the end of their useful life may act to linit growth in nuclear generating capacity…” http://www.aph.gov.au/Library/pubs/rp/2009-10/10rp06.pdf
BHP Billiton’s chief gets 51pc pay rise
Billiton chief Marius Kloppers enjoys 51pc pay rise BHP Billiton chief executive Marius Kloppers enjoyed a 51pc pay rise this year to more than $10m (£6m), despite a 51pc fall in BHP pre-tax profits. Continue reading
China’s investments in Australian resources
TIMELINE-Chinese investments in Australian resources
“………….REUTERS, Sept 24, 2009 – Australia’s defence department opposes a proposed joint venture between Wugang Australia Resources, a wholly-owned subsidiary of state-owned Wuhan Iron and Steel (600005.SS: Quote, Profile, Research), and Australia’s Western Plains Resources (WPG.AX: Quote, Profile, Research). Continue reading
Four Mile uranium mine delayed, for at least months
Four Mile mine’s four-month setback
Matt Chambers | September 22, 2009
Article from: The AustralianWORK on what is expected to be the nation’s next uranium mine, the Four Mile project in South Australia, has been set back by at least four months Continue reading
Australian National University quietly working with ANSTO on nuclear reaearch
New agreement for nuclear research
Sky News September 21, 2009
The Australian Nuclear Science and Technology Organisation (ANSTO) and The Australian National University (ANU) will join forces to further research into nuclear science.Science Minister Kim Carr will launch the national research partnership in Canberra on Tuesday.
The new agreement will see the two organisations collaborate on research into future energy sources and nuclear non-proliferation as well as share the use of testing facilities like particle accelerators.
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