Get flash to fully experience Pearltrees
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. After an absolutely catastrophic 2011, uranium miners and the commodity itself have performed exceedingly well to start off 2012. The initial cause of last year's weakness was the Japanese nuclear catastrophe that followed the Fukushima Daiichi nuclear power plant getting hit by an earthquake and tsunami. The aftermath created a renewed fear of the radioactive power source, hitting the uranium mining industry's immediate and future demand projections. Shortly after the Japanese nuclear issue, Germany added to the concern by stating that it would reduce its use of nuclear power and slowly eliminate the power source.
Source: George S. Mack of The Energy Report (5/24/12) Having just founded her own research company, Mine2Capital, Alka Singh has her sights set on the uranium sector, where she sees deep values in a beaten-down industry. With two major catalysts likely to boost spot prices, M&A activity afoot, new mines coming into production and new companies coming to market, well-positioned investors stand to benefit from what just may be a coming boom. In this exclusive interview with The Energy Report , Singh shares what she sees on the horizon.
COYLE, Okla. — Residents of a town in Oklahoma have been told that their drinking water contains a high level of uranium, according to the Department of Environmental Quality. Health officials said the water in the town of Coyle contains too much of the radioactive metal. "We just happen to be one micro milligram per liter above the maximum contaminant level," Water Superintendent Joe Courtwright said. Coyle officials sent out a notice to residents Friday from the DEQ stating that there was no immediate health risks from drinking the water.
ULAN BATOR, April 24 (Xinhua) -- A high level of uranium has been detected in the groundwater in the Mongolian capital, local media reported. The finding was made in a deep-well water research program conducted by a group of U.S. and Mongolian researchers in Ulan Bator last July in order to determine the arsenic content, according to the reports released Monday. The joint team of University of Michigan - Ann Arbor and National University for Medical Science of Mongolia extracted water samples from 129 deep wells in the city's seven districts and sent the samples to the United States for analysis. The results, according to the report, showed that the average uranium content is 4.6 milligram per liter, which is significantly above the safe level recommended by the World Health Organization (WHO). The researchers have yet to determine the causes.
Radioactive Obama Nazi
Source: Radio Zamaneh Iranian authorities report that while they are suspicious of recent overtures by the Obama administration about supporting low-grade uranium enrichment in Iran, they believe it would be an excellent step toward positive negotiations on the nuclear issue. The Los Angeles Times recently reported that U.S. officials have said that if Iran agrees to close and widespread inspection of its nuclear facilities by international inspectors, the U.S. might agree to let Iran continue enriching uranium to the five-percent level. Iran maintains that its uranium enrichment activities are aimed at making fuel for its nuclear reactors for power generation and medical purposes.
(Judy Fahys | Tribune file photo) Atlas tailings project manager Don Metzler, with the Department of Energy, stands in front of the site near Moab where millions of tons of uranium waste have been removed. A new contract went to an Idaho company to take over from EnergySolutions Inc. and Rep. Jim Matheson said he is concerned that a scale-back in funding will slow down the project. Moab » Jim Matheson wants to hurry project, but he won’t represent the area after election. Cleanup crews have hauled a big chunk of the massive Atlas tailings pile away from Moab during the past three years. But the project’s supporters now worry about the heavy lifting ahead: the political effort needed to keep the project moving.
The operator of the wrecked Fukushima Daiichi nuclear power plant says about 12 tons of radioactive water has leaked from the crippled Japanese facility, and some may have flowed into the Pacific Ocean. Tokyo Electric Power Co. (TEPCO) said on Thursday that the leak was found earlier in the day from a pipe attached to a temporary decontamination system, and the water contaminated with radioactive element strontium had already gone through some of the cleansing process. “Our officials confirmed that cooling water leaked at a joint in the pipes,” a TEPCO spokesman said on condition of anonymity. He added that “it is possible that part of the water may have flowed outside the facility and poured into the ocean.”
Vista Gold spokesman Raymond Iacono said media reports that the water was released from an old tailings dam were incorrect and that the water had instead come from a retaining pond. Mr Iacono said the water is acidic with a PH of about 3 to 3.5. The mine site has acid-rock drainage problems. When rain falls on the exposed rock it converts to sulphuric acid, causing heavy metals to leach into the nearby Edith River, causing fish kills.
CHINESE-controlled uranium explorer Energy Metals has signed its first local uranium trading contract, agreeing to export third-party uranium from Adelaide to its parent company in Shanghai. The Australian-listed Energy Metals is 60 per cent owned by China Guangdong Nuclear Power Co, which is one of two Chinese companies authorised to import and export uranium in China and which is also a potential suitor for Namibian-focused Extract Resources. <p style="text-align:right;color:#A8A8A8"></p>
Despite everything you might have heard about its feuding commissioners, the NRC’s embattled chairman says his agency is still a great place to work. The allegedly hot-tempered Gregory Jaczko is set to tell lawmakers Wednesday about the Nuclear Regulatory Commission’s successes in this “exceptionally challenging and productive year” — including the fact that the NRC was ranked the second-best place to work in the federal government, according to a copy of his prepared testimony obtained by POLITICO. Continue Reading
The International Atomic Energy Agency (IAEA) is implementing a Technical Cooperation (TC) Project for countries throughout the Pacific Ocean region to monitor radioactive substances in the marine environment in the wake of the release of radioactive particles into the Pacific from the tsunami-wrecked Fukushima Daiichi Nuclear Power Plant in Japan. Twenty-one IAEA Member-States and three non-member States are participating in the project, the U.N. nuclear watchdog said. The first project meeting was held in Australia in August followed by a workshop on quality management in data handling and analytical procedures, conducted at the IAEA environment laboratories in Monaco last month. Considerable volumes of radioactive contaminated water entered and polluted the Pacific Ocean following the March 11 Nuclear accident.
Dec. 14 (Bloomberg) -- China, the world’s biggest energy user, may resume approving new nuclear projects after the cabinet endorses draft safety rules prepared by the Ministry of Environmental Protection, an industry association official said. “Technically, all conditions would be met after the State Council approves this new safety regulation,” Zhao Chengkun, vice president of the China Nuclear Energy Association, said yesterday by telephone from Beijing. “I think it’s good news for China’s nuclear industry.” China suspended new nuclear projects after the March 11 earthquake and tsunami in Japan crippled the Fukushima Dai-Ichi plant and prompted a global review of atomic energy plants. The State Council said approvals would be withheld until existing projects and those under construction are inspected and a stricter safety regime is in place.
CASPER, Wyo. — Share prices of global uranium majors continue to suffer the aftereffects of an earthquake and tsunami that rocked Japan's Fukushima Dai-Ichi nuclear power plant last March. That's the assessment of Sydney, Australia-based Resource Capital Research, which noted share prices for selected companies have declined substantially. An analysis noted that Cameco shares declined by nearly 50 percent over the past year, while Uranium One shares had dropped by nearly 45 percent. Energy Resources of Australia stock fell by 82.1 percent. "The Merril Lynch Uranium Equity Index (a global basket of uranium equities) is down 2 percent over the past month, down 7 percent over three months and down 54 percent over the past 12 months," the firm said in a report earlier this month. "Sector performance has also been impacted by broader global equity market volatility resulting from slow U.S. economic activity and ongoing sovereign debt issues in the advanced economies."
Dec. 14 (Bloomberg) -- U.S. Nuclear Regulatory Commission Chairman Gregory Jaczko denied accusations by all four of his agency colleagues that he verbally abused employees, telling lawmakers he was hearing many complaints for the first time. Jaczko bullied employees, humiliated female workers and blocked information from being shared, the other commissioners told the House Oversight and Government Reform Committee today.
Congressman Kucinich expresses concerns on Davis-Besse cracks, urges public hearing before NRC allows reactor re-startKucinich has long watch-dogged Davis-Besse On Nov. 21st, U.S. Representative Dennis Kucinich (D-OH) wrote NRC Chairman Greg Jaczko , putting forth a technical theory that could explain Davis-Besse's concrete shield building cracking, and calling for a public hearing on this vital safety issue before the atomic reactor is allowed to re-start. Kucinich wrote a related op-ed in the Toledo Blade .