Strong and continuing decline in uranium share prices
The average uranium equity has declined 34.4 percent, with the majority of share prices weakening more than 30 percent.
Uranium Equities Lagging in Recovery, By Dave Brown – Uranium Investing News, 27 April 11, The full impact of the Japanese earthquake and tsunami is yet to be determined. However, the immediate downside pressure on uranium mining, exploration and development companies and even spot uranium prices has been considerable. Continue reading
Australian company Lynas meets opposition to its rare earths plan
The Star Online, said that if Lynas claimed the residue from the plant would be safe, it should be shipped back to Australia. “Malaysia cannot afford to keep a health time bomb here and we do not know when it will explode,”
Protests threaten Lynas’s Malaysian rare-earths plant, The Australian, Sarah-Jane Tasker , April 26, 2011 RARE-EARTHS miner Lynas’s plans for a processing plant in Malaysia have been thrown into doubt as local authorities review the proposal in light of concerns about radiation pollution. Continue reading
End self-regulation of uranium mines: ERA can’t be trusted
The situation at Ranger added weight to his calls for an end to self-regulation of the Northern Territory’s resources sector.
“Mining companies have consistently shown they can’t be trusted to monitor themselves and the government needs to step in and end this ridiculous situation immediately.”
Uranium mine shutdown sparks environmental fears, Sydney Morning Herald, Lindsay Murdoch DarwinApril 19, 2011 THE largest Aboriginal organisation in northern Australia has warned the Rio Tinto-controlled company Energy Resources of Australia against cutting corners on environmental protection during an emergency shutdown of its Ranger uranium mine in Kakadu National Park. Continue reading
Big drop in value of uranium companies
Uranium Producers in Takeover Play as Assets Exceed Share Price:U3O8, April 14, 2011 — Uranium companies from Toro Energy Ltd. (TOE) to Mega Uranium Ltd. (MGA) are so depreciated they’re trading at less than their assets would be worth in a fire sale. …..Toro, which is seeking to develop the Wiluna deposit in Western Australia, fell to 0.88 times the value of its assets minus liabilities from 1.09 times during the same span, the data show….
Toro is awaiting regulatory approval for its $278 million Wiluna uranium mine.
‘Big Drop’ “We’ve had a big drop because we’re in the development doldrums and people know we’ll need to raise money for Wiluna’s development in 2012,” Chief Executive Officer Greg Hall said in an interview.
Australian uranium shares down, but ERA worst hit
Uranium miner’s shares slump on forecast loss ABC News (Australian Broadcasting Corporation) By finance reporter Alicia Barry 13 April 11, Shares in uranium miner Energy Resources of Australia have slumped more than 10 per cent after the company flagged a first-half loss.Speaking at ERA’s annual general meeting, its CEO Rob Atkinson said 2010 was an extremely difficult year after heavy rains suspended production at its Ranger mine in the Northern Territory…..
Uranium mining leads the plunge in Australian resources shares
Uranium miners were among the weakest in the S&P/ASX 200, with Paladin down 4.9 per cent to $3.53…..”There’s no reason to be buying risk assets when you’re told the third-biggest economy in the world has a nuclear crisis potentially as big as Chernobyl.
Nuclear danger poisons bourse: Japan crisis wipes month’s worth of share gains The Australian David Rogers * From: Dow Jones Newswires * April 13, 2011 AUSTRALIA’S sharemarket had its biggest one-day fall in a month yesterday, as Japan’s nuclear crisis worsened, commodity prices fell and BHP Billiton shares reversed after Monday’s buyback-led surge…… Continue reading
Darwin hears Aboriginals, scientists, call to close Ranger uranium mine
Monash University engineering academic Dr Gavin Mudd said that Ranger was one of the most heavily monitored uranium mines in the world, but this was still insufficient to deal with the problems.
The Ranger mine has been closed for several weeks because the extreme wet season has threatened to overflow a dam site used to hold radioactive tailings.
‘Call to close Ranger uranium mine’ | Green Left Weekly April 10, 2011 By Peter Robson, Darwin One hundred and thirty people packed out a room in the Crowne Plaza hotel to hear traditional owners and nuclear experts call for the closure of the Ranger uranium mine in the world heritage-listed Kakadu national park.
BHP’s Olympic Dam uranium mine the reason for desalination plant
Olympic Dam, South Australia BHP Billiton, the world’s largest mining company The most ambitious mining-water supply project, which includes the expansion of the associated mine—it will become the world’s largest uranium producer…But the expansion depends on a coastal desalination plant— —at Point Lowly on southern Australia’s Spencer Gulf. Four pumping stations will move water through the 320-kilometer (200-mile) pipeline, providing nearly 90 percent of the 83 million cubic meters (22 billion gallons) of water the mine will use each year for ore processing and dust suppression,
Australia Builds Desalination Plants and Pipelines to Bring Water to Mines, Circle of Blue WaterNews, 05 April 2011 To feed water-hungry mining industries, similar plans are in the works to supply drought-ridden regions of Australia and China. Continue reading
Monash University engineer shows the way to expand Olympic Dam without uranium recovery
The Olympic Dam Mega-Expansion Without Uranium Recovery.Dr Gavin Mudd, 2010 Peer-Reviewed Report for SA Greens MLC Mark Parnell and WA Greens Senator Scott Ludlam, Adelaide, SA, December 2010, 10 p (Download PDF – 591 kb).
“…….It is eminently reasonable to propose a process flow sheet for Olympic Dam which does not include recovery of uranium but still allows for copper, gold and silver to be produced… This report .. proposing a technically viable alternative for operating Olympic Dam in the next expansion which excludes uranium recovery….”
BHP Billiton’s coy silence about Olympic Dam uranium mining
Missing from BHP Billiton’s announcement was any mention of the fact that, by the time Olympic Dam reaches full production (and the time frame for what is proposed to be a four stage expansion remains highly uncertain) it will be the world’s biggest uranium producer…..
Silent on uraniumThe Australian Matthew Stevens March 31, 2011 “……. FUKUSHIMA’S nuclear shadow seems to have reached all the way to BHP Billiton headquarters in Melbourne, with the Global Australian yesterday confirming Olympic Dam’s move into full feasibility, but remaining cautiously mute about what that might mean for the future giant’s uranium production. Continue reading
BHP hastens to calm investor fears on uranium’s future
it was more likely BHP made the unusual announcement to calm fears of the Rann Labor government that international concerns about nuclear power caused by Fukushima could threaten Olympic Dam’s expansion.
BHP assurance on mine, Sydney Morning Herald, Barry FitzGeraldMarch 31, 2011 BHP Billiton has moved to dispel suggestions that the development timetable for its planned $30 billion expansion of the Olympic Dam copper/uranium/gold mine in South Australia is set to slip because of uncertainty about uranium demand. Continue reading
Bleak prospects for Australia’s uranium industry
Ord Minnett senior resources analyst Peter Arden says the negative outlook for the uranium sector may be very prolonged. The disaster had fractured confidence in the resources sector as a whole and this damage would not be repaired quickly, Mr Arden said..Mr Gillham said the movement against developing nuclear power plants in Australia was likely to grow.
Uranium sector negativity likely prolonged, Sydney Morning Herald, Rebecca Le MayMarch 18, 2011 “…….Morningstar senior research analyst Mark Taylor said the near-term outlook for the uranium market was negative Continue reading
Uranium miner Paladin blames the media for uranium shares crash
Uranium miner slams nuclear ‘media frenzy’, ABC News (Australian Broadcasting Corporation) Elysse Morgan Mar 17, 2011 The chief executive of one of Australia’s biggest uranium miners, Paladin, has slammed the media and share traders for their treatment of nuclear focused businesses in the wake of the Japanese earthquake.Shares in the company plunged 33 per cent in trade over Monday and Tuesday, recovered a little on Wednesday and are now on the slide again, down 6.8 per cent to $3.45 by 3:25pm (AEDT).Paladin’s chief executive John Borshoff says uranium centred businesses have become a sideshow to the Japanese crisis….Uranium miner slams nuclear ‘media frenzy’ – ABC News (Australian Broadcasting Corporation)
South Australian govt wants to enrich uranium in S.A.
In a bullish speech to a uranium conference in Adelaide, Mr Koutsantonis dubbed the reaction to the Fukushima crisis as ”hysteria”, and said nuclear power remained “the path for the future”..
SA call for uranium enrichment at home, Sydney Morning Herald, Peter Ker, Adelaide, March 22, 2011A SPECULATION about the demise of the uranium industry has been fiercely challenged by the South Australian government, which yesterday suggested Australia should expand its relationship with uranium to include domestic enrichment Continue reading
Investment advice “be greedy” about uranium stocks
Uranium woes woo takeover talk * Robin Bromby * From: The Australian * March 18, 2011
BE greedy where others are fearful that’s the advice Fat Prophets sent out to its clients today.
The immediate object of FP’s affections is Paladin Energy (PDN) which has taken a body blow this week like other uranium stocks. The investment firm sees the company as a potential Chinese takeover target as it has its operating mines in Namibia and Malawi, which means the Australian government would not be involved in deciding the ownership of those mines…….
1 This month
of the week – Australians for War Powers Reform (AWPR)
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