BHP might sell Yeelirie uranium project. Fortescue to join Big Uranium Boys
BHP tipped to sell $9.3b worth of assets SMH February 9, 2012 BHP Billiton may consider selling about $US10 billion ($9.3 billion) of aluminum, nickel and coal mines and smelters as it trims its portfolio, Deutsche Bank says….
BHP could also sell its Yeelirrie uranium project in Australia and some petroleum assets, Citigroup said today in a report.
http://www.smh.com.au/business/bhp-tipped-to-sell-93b-worth-of-assets-20120209-1rnn0.html#ixzz1lucfhUlg
FMG pegs swathes of new tenements in major SA copper, gold and uranium districts by: Nick Evans PerthNow, February 07, 2012 FORTESCUE Metals Group has given the clearest sign yet it intends to diversify out of the iron ore and steel supply chain, pegging swathes of new tenements in South Australia’s major copper, gold and uranium districts.
The WA iron ore giant last year applied for 10 exploration licences covering about 4600sq/km of ground, mostly in the Woomera protected area in central South Australia. In its tenement applications, FMG said it was looking for copper, gold
and uranium – a significant departure from its current iron ore business.
According SA Government records, the bulk of FMG’s new tenements sit between OZ Minerals’ Prominent Hill copper-gold mine and BHP Billiton’s massive Olympic Dam project, slated to eventually become one of the biggest copper, gold and uranium mines in the world. …. http://www.perthnow.com.au/business/fmg-pegs-swathes-of-new-tenements-in-major-sa-copper-gold-and-uranium-districts/story-e6frg2qc-1226265102556
Lynas rare earths plant suits Malaysia’s politicians, not Malaysia’s people
Lynas plant a done deal from the start , malaysiakini, Feb 7, 2012 “……Manjit Bhatia: These protests against Lynas are very worthwhile. The Lynas project should never have been given the green light in the first place, let alone a temporary licence by the Umno-BN regime.
What’s really galling is that the regime went ahead with the latter despite Lynas failing to provide all of the mandatory guarantees needed. Worse, though: were there any public consultations about the project to start with? I feel the protests at Lynas aren’t big enough to put sufficient political pressure on the company to reconsider its operations…..
If the bulk of Malaysians do not join their Lynas protestors and stop the project dead in its tracks and soon, then you’ve lost the chance forever – unless Pakatan Rakyat wins government and scuttles the project entirely.
Although Malaysians have to cop a huge compensation bill to Lynas, it’ll be worth it. Just wear the fiscal pain for a decade.
Pemerhati: This is the price Malaysians pay for electing corrupt and greedy Umno thieves as their leaders……
CiViC: The concern now is exposing our people, our land to radioactive waste, radiation and pollution. This is not the people’s needs.
Thousands of people have protested, and still the dirty corrupt BN government pushes it through. And please don’t start with economic gains and such bull, there are no gains here since Lynas needs not pay tax, and the guarantee they have posted is not even enough to clean the plant itself, what more pollution beyond that…. http://www.malaysiakini.com/news/188438
Australian rare earths company Lynas involved in Malaysia’s coming election
Rare earth plant and general election 2012-02-03 , By LIM SUE GOAN Translated by SOONG PHUI JEE Sin Chew Daily, 6 Feb 2012, “……….Since the AELB has granted the Lynas a temporary operating licence (TOL), Lynas should have complied with the 11 recommendations made by the IAEA. The authority has also listed another five extra conditions under the TOL, including a detailed plan for a permanent disposal facility (PDF), to avoid repeating a similar waste disposal issue of the Bukit Merah rare earth plant.
However, why is Lynas given 10 months after the TOL’s issuance date to submit the plans and location of the PDF? In addition, the authority also has the right to appoint independent consultants to evaluate Lynas’ adherence to the set standards and regulations. Does it mean that the government may suspend the plant’s operation, if the conditions are found broken?
Also, Lynas must comply with the financial assurance condition by paying the government a US$50 million security bond in installments. However, it is not the main concern as the people’s health is priceless. With Lynas’ financial strength, US$50 million is nothing.
Would the anti-Lynas protest groups compromise after so much have been done by the government? Would the MCA and Chinese community groups change their stand? From the attitude of the Anti-Lynas groups and the public response, the Bukit Merah rare earth plant tragedy seems to be still clear in their minds. Under the international trend of concern over environmental issues, it is quite impossible to eliminate the opposition voices from the public.
The people resist even high-tension cables, telecommunication towers and garbage incinerator, how would they tolerate a rare earth plant that could bring radiation problems?
In addition, the authorities have left some doubts in dealing with the issue. For example, why the construction work of the plant was not suspended during the period when Lynas is required to fully comply with the 11 recommendations put forward by the IAEA? The progress of the construction work of the Mount Weld plant in Western Australia has even gone beyond expectation. Lynas had also constantly announced the date of operation, seemed like it was very sure of being granted an operation licence.
The uproar might be avoidable if the government has high credibility and supervision efficiency, which are also the key of the issue. http://www.mysinchew.com/node/69705
Although the Lynas rare earth plant is the world’s largest rare earth plant with the capacity to meet a fifth of the world’s demand, the people’s health is still the most important issue. The rare earth plant issue will be a thorny issue for the election.
Extreme weather rains on uranium mining company’s parade
Toxic year for ERA unlikely to get better, SMH, Peter Ker, February 2, 2012 THE struggling uranium miner Energy Resources Australia has underwhelmed the market with its production forecasts, raising fears its poor year last year could continue into this one.
The stock plunged almost 14 per cent yesterday after the company, majority owned by Rio Tinto, revealed a $153.6 million loss for the year to December 31. The result, despite being 427 per cent worse than the previous year, came as no surprise. The company’s Ranger mine was shut down for much of last year, and a massive depreciation of assets had already been
announced in August.
The bigger surprise for the market came when ERA forecast production of between 3000 and 3700 tonnes of uranium oxide this year, well below the 4100 tonnes forecast by analysts at Goldman Sachs.
Production figures at Ranger are highly dependent on the weather. Water management problems during the Northern Territory’s wet season often cause interruptions.
There was record rainfall in December, and ERA warned that its underwhelming production forecasts could be further affected if bad weather returned.
The ERA board has approved spending of $220 million on a brine concentrator, which will help mitigate its water problems. ERA’s future rests on hopes of finding uranium deposits beneath the Ranger open cut and turning it into an underground mine. Investors will have to wait until 2014 before knowing if the project, known as Ranger Deeps, will proceed.
ERA shares fell 21¢ to $1.33 yesterday….. Hopes that Rio Tinto will come to the rescue of another ASX-listed
uranium company, Extract Resources, appear dashed after Rio sold a strategic investment to state-owned Chinese interests. http://www.smh.com.au/business/toxic-year-for-era-unlikely-to-get-better-20120201-1qtgb.html#ixzz1lFkRZG00
Malaysian opposition to Lynas, the Ugly Australian company overseas
“We are disappointed but not surprised by the very weak application presented by Lynas. Most worrying of all is that Lynas’ proposed waste management plan is full of holes and is totally unsafe. ”
Raw Earth Miners and Processors, Bad Developers, 2 Feb 12 Today marked the final day for public comments on Lynas’ application for the pre-operational licence for its Advanced Materials Plant (LAMP) in Gebeng.
Together with concerned citizens including representatives from the Pahang Bar Council and the Malaysian Medical Association who converged at the Pahang Secretariat Office, SMSL and SLC delivered a joint
submission to MOSTI and the AELB urging the two authorities to reject Lynas’ application until a safer plan is produced. Continue reading
Still no plan for radioactive waste disposal, but Australian company Lynas gets temporary license
Lynas’s plant is near Kuantan, the capital city of the central Pahang state. Protests by residents and non-governmental organizations over the past 10 months included a march on Malaysia’s parliament and the Australian High Commission in Kuala Lumpur….
China has been limiting rare-earth output and exports since 2009 on concerns mining activities caused pollution
Lynas Granted Temporary Rare-Earth Refining License From Malaysian Board, Bloomberg, By Manirajan Ramasamy – Feb 1, 2012 Malaysia’s Atomic Energy Licensing Board granted Lynas Corp. (LYC) a temporary operating license to begin refining rare earths under certain conditions following public protests.
The Sydney-based miner will be able to start refining under conditions that include a plan for a permanent disposal facility and paying the government a $50 million security bond in installments, the board said in an e-mailed statement yesterday.
Lynas’s plant would be the world’s largest refinery of the minerals with total capacity of 22,000 tons per year should a second phase be approved and completed, the company said on Nov. 16.
Its plan to start production in September was delayed after the government imposed extra safety standards recommended by an international review panel after residents expressed fears over possible radiation and contamination. Continue reading
Uranium deal to India- a last gasp effort for a dying industry?
In short, the deal with India is seen by some as little more than a short term means to prop up an industry breathing its last gasp……
[For uranium explorers] the 52 week highs and lows paints the same picture as we saw for the producers – market participants doubt the viability of exploring for a product whose demand may be in jeopardy.
Share market participants have spoken and they clearly doubt the future of nuclear energy.
URANIUM STOCKS HIT HARD BUT BULLS ARE BELLOWING, The Bull, By Bob Kohut | 30.01.2012 As the dismal trading in 2011 global share markets ground down to its agonising year-end finish, some Australian investors were heartened by the news that our government was about to lift the ban on uranium sales to India.. Continue reading
Australian rare earths company Lynas has not solved its Malaysian radioactive waste problem
Locals say market won’t buy Lynas’ recycled waste, Malaysia, By Shannon Teoh, January 26, 2012 KUALA LUMPUR, Jan 26 — Lynas Corp’s plans to recycle waste from its controversial RM2.5 billion rare earth plant in Kuantan into a commercial product will not be accepted by the market, local residents opposed to the refinery said today.
The Stop Lynas Coalition (SLC) and Save Malaysia Stop Lynas (SMSL) groups said in a joint submission to the government that the synthetic gypsum the Australian miner hopes to produces from its waste is the subject of an international safety campaign due to radiation fears. The use of phospho-gypsum plaster-board and plaster cement in buildings as a substitute for natural gypsum may constitute an additional source of radiation exposure to both workers and members of the public,” the document quoted from Internet-based environmental organisation Zero Waste America. Continue reading
Honour for Aboriginal man Jeffrey Lee, who saved his land from uranium mining
Territorians recognised in Australia Day honours, ABC News, By Emma Masters January 26, 2012 Four Northern Territorians have been recognised for their contribution to the community with the highest Australia Day honours.
Traditional owner Jeffrey Lee has been made a member of the Order of Australia in recognition of his conservation work in Kakadu National Park.
Mr Lee, who now works as a ranger in the park, offered his uranium-rich country to be included in Kakadu for free, and fought for it to be recognised as a World Heritage Area within the park.
He says he did not expect to receive an award for protecting the country he loves, and he appreciates the support he has been given along the way.
“I love the park,” he said.
“It is good that I get out and look on my country.”….. http://www.abc.net.au/news/2012-01-26/20120126-territory-orders-of-australia/3794570?section=nt
Australia’s uranium industry facing a doubtful future
Uranium Sector Hit by Mining Safety Fears Oil Price, By Dave Forest , 10 January 2011 “….. the Electrical Trades Union of Queensland and the Northern Territory is banning its members from working in any nuclear-related facilities. Including uranium mines and nuclear power stations.
The Union is worried about the health dangers of uranium and nuclear power. In an anti-uranium video released by the group, the narrator notes, “This is dangerous stuff. It has no place in society.”
Union spokesman Peter Simpson further says, “We are sending a clear message to the industry and the wider community that vested interests in the uranium and nuclear industries are trying to hoodwink us about this dangerous product and industry.”….. a group of this stature taking such a heavy-handed stance against uranium cannot be ignored.
Ultimately, this could be a setback for the Aussie uranium business. Particularly if other workers follow the electricians’ suit.
In the bigger picture, the Union’s move illustrates the huge challenges the world faces in bringing on new uranium supplies. Right or wrong, the radioactive metal will always be viewed in a more cautious light by workers, local communities and governments.
Anti-uranium protests are inevitable, and will probably slow or stop completely some of the world’s yellowcake projects. One more hurdle for an industry that’s already having a hard time finding new, economic deposits in order to meet global demand. …. exploration and development companies will need to think hard about what projects they pursue. Not only are size, grade and infrastructure a consideration. Companies will also have to think about the surrounding communities, the attitudes of the regional populace, and the stance of host governments when it comes to uranium.
Throw all of these factors in the mix, and it’s going to be extra tough to make new mines. http://oilprice.com/Alternative-Energy/Nuclear-Power/Uranium-Sector-Hit-By-Mining-Safety-Fears.html
Extreme weather in Northern Territory bodes no good for uranium miner Energy Resources of Australia
Australia’s ERA warns rains to hit uranium output again SYDNEY, Jan 12 (Reuters) – Energy Resources of Australia warned on Thursday that recent flooding caused by monsoon rains in northern Australia will continue to restrict its production of uranium in 2012.
Production at the company’s Ranger mine — which in previous years supplied as much as 10 percent of the world’s uranium — was halted by heavy rains in early in 2011 and did not resume until mid-June.
A second deluge in December that dumped record rains across parts of the tropical Northern Territory meant ERA would be unable to readily mine richer ores at the bottom of the lode, it said.
“As a result, access to the high grade ore located at the bottom of the pit will be delayed and is highly dependent on rainfall
experienced for the remainder of the 2011/2012 wet season,” said ERA, 68 percent owned by Rio Tinto but separately listed on the Australian bourse….. Analyst are expecting the company to show a loss on earnings before interest and tax of around A$61 million against a profit of A$68.4 million in 2010.
The stock has plummeted more than 80 percent in the last 12 months, in part due to negative sentiment toward uranium companies following the Fukushima nuclear disaster in Japan last March…..
http://af.reuters.com/article/energyOilNews/idAFL3E8CB8ZU20120111?pageNumber=2&virtualBrandChannel=0
Northern Territory radioactive river spill causes wave of concern
Environment Centre NT calls for EPA investigation radioactive spill, 2 Jan 2012 The train derailment at Edith River spilling 1200 tonnes of copper concentrate into the flooded environment, which may have contained 0.01% of uranium, has urged the Environment Centre NT to call on the EPA for a full investigation.
“We have now learnt that the NT Government approved the transport of these toxic materials in substandard casing, covered only by a tarp. We want to know which department and which minister had signed off on this outrageous exemption” Said Cat Beaton, Nuclear Free NT Campaigner at the Environment Centre NT.
“This incident is a serious warning, that must trigger serious action. We will be writing to the EPA requesting a full investigation”.
“NT Government should not approve any increased transport of radioactive materials by rail until such an independent investigation has been undertaken,” continued Ms Beaton.
The Northern Territory is at the dawn of increased transport of toxic and radioactive materials. The expansion of BHP’s Olympic Dam mine in SA is set to see 1.6 million tonnes a year of uranium infused copper concentrate transported daily by 1.8km long trainloads for the next 80-plus years.
The Territory could also face the reality of radioactive waste transport for a proposed nuclear waste dump at Muckaty, 120ks north of Tennant Creek.
“Right now the Territory Government cannot be trusted to ensure the safe transport of dangerous goods and we all need to think about the risks to our rivers, environment and the outdoors lifestyle that Territorians enjoy,” concluded Ms Beaton.
Toxic spill might raise insurance costs for uranium transport from planned BHP new mine
it was unclear whether the incident would raise premiums for miners
By far the biggest user of the railway will be BHP Billiton, which, if it approves its expected expansion of the Olympic Dam copper and uranium mine in South Australia, will run a train a day from the mine to Darwin. …..
OZ Minerals’ insurance claim for derailment loss may face complication over pollution BY: MATT CHAMBERS The Australian January 02, 2012 OZ Minerals may recoup through insurance some of the losses from the up to 1200 tonnes of copper concentrate that disappeared into the Northern Territory’s Edith River last week after a train derailed. In an announcement to the stock exchange on Thursday, OZ said the value of the lost concentrates was between $US7 million ($6.85m) and $US8m, or about 4 per cent of its 2010-11 underlying net profit of $189m. Continue reading
Chinese owned company to ship uranium concentrates to Shanghai
Australia’s Energy Metals to Ship Uranium Concentrates to Shanghai, Commodities and Futures 30 Dec11, By Esther Tanquintic-Misa | Australia will be soon seeing its first uranium concentrate shipment, after Chinese-owned Energy Metals signed an agreement to ship third-party uranium from Adelaide to its parent company in Shanghai.
China Guangdong Nuclear Power Co. (CGNPC) owns 60 per cent of Australian-listed Energy Metals. It is one of two Chinese companies authorized to import and export uranium in China, Energy Metals will export 150,000 pounds (68 tonnes) of uranium oxide concentrate to Shanghai at $53 a pound, no later than April 30, 2012.
Energy Metals, however, will not identify the seller of the $8 million shipment. Energy Metals said it is still discussing with CGNPC to sell the concentrate, where it expects to generate a profit from the sale. Before the Fukushima nuclear disaster affected uranium markets, Energy
Metals had received federal government approval to export third-party uranium.
Data from the Department of Foreign Affairs and Trade showed that since 2006, uranium expors to China have been controlled. The first was in 2008 by Energy Resources of Australia, while BHP made a trial in 2009. Uranium displacements from Australia last year reached a record 431 tonnes. However, this represents only 7 per cent of the 5,926 tonnes transferred, where half went to the US. http://au.ibtimes.com/articles/274333/20111230/australia-s-energy-metals-ship-uranium-concentrates.htm
Northern Territory train derailment raises danger of uranium transport in tropical weather
Audio Questions raised over toxic goods transport in the Northern Territory ABC Radio AM December 29, 2011 While government officials are investigating the cause and the environmental impact of a serious train derailment in the Northern Territory, a Territory Environment group has raised questions over the safety of transporting uranium in tropical weather conditions.
Michael Coggan MICHAEL COGGAN: Forty-eight hours after floodwaters swept part of a large freight train into the Edith River and cut off the Stuart Highway north of the Top End town of Katherine, several investigations are underway into the cause of the train derailment and the environmental impact of tonnes of copper concentrate spilled into the flooded Edith River from the freight train.
Jim Grant is the head of the Northern Territory Environment Department. JIM GRANT: Well it’s not a highly toxic substance but it’s not to be ingested or inhaled. We think it’s washed all over the place…..
MICHAEL COGGAN: Environment Centre director Stuart Blanch says the accident shows why dangerous goods including uranium oxide should not be carried on the Alice Springs to Darwin railway.
STUART BLANCH: A much bigger risk to Top End rivers would be derailment of trains carrying uranium oxide from the Roxby Uranium Mine in South Australia. The Territory Government should call a halt on approving the transport of more and more trains of uranium oxide up to Port Darwin until there are really adequate, safe measures in place to stop such a derailment ever happening with uranium on the track.
MICHAEL COGGAN: But Chief Minister Paul Henderson doesn’t want to speculate about the implications for the transport of uranium in the Northern Territory…. http://www.abc.net.au/news/2011-12-29/questions-raised-over-toxic-goods-transport-in-the/3750842?section=nt
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