North American uranium output dips - 14 August 2008
Figures show that uranium production in the USA and Canada has dropped during the first half of 2008.
US uranium production in the first half of 2008 was 726 tonnes uranium, down 17% on the same period last year, according to the US Department of Energy's Energy Information Administration (EIA). Total 2007 US production was 1748 tU, which accounted for some 4% of total world production.
Production came from one mill - White Mesa in Utah – and five in-situ-leach (ISL) mines: Alta Mesa in Texas; Crow Butte in Nebraska; Kingsville Dome and Vasquez, both in Texas; and Smith Ranch-Highland in Wyoming.
Cameco said that its two US mines - Smith Ranch-Highland and Crow Butte - produced a combined 371 tU during the first six months of 2008, compared with 1044 tU for 2007 full year. The company expects Smith Ranch-Highland and Crow Butte mines to produce 615 tU and 270 tU, respectively, for the whole of 2008.
Denison Mines has cut its 2008 production forecast to 654-731 tU, down from its earlier prediction of 808-923 tU. The drop is due to a decrease in predicted output from the White Mesa mill in Utah, where output from the company's Colorado Plateau and Henry Mountains Complex mines is milled. Head grades at the Colorado mines - Sunday, Pandora, Topaz, West Sunday and Rim - at 0.18% U3O8, have been down on the 0.2% expected.
Denison now expects to produce 385-462 tU at the mill in 2008, down from earlier projections of 538-654 tU. In addition to its US output, Denison also produces uranium through its share in the McClean Lake/Midwest projects in Canada and has exploration interests in Mongolia and Australia as well as the advanced stage Mutanga project in Zambia.
In Canada, total production for the six months to 30 June was 4772 tU, compared with full 2007 total of 9477 tU, which was well below the norm to 2005. In 2007, Canada accounted for about 28% of world production.
Cameco said McArthur River mine produced 3518 tU, almost on target, while its Rabbit Lake operation produced 582 tU in the last quarter, having been shut down for repairs until April. Areva RC's McClean Lake mine improved its recent output to 672 tU, reflecting much higher ore grade treated.
[Uranium] Ressources, production et consommation mondiale
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La production d'uranium en Amérique du nord en baisse de 17% sur le premier semestre 2008. L'amérique du nord (surtout Canada) produit environ un tiers de l'uranium mondial.
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EDIT:Uranium: Areva confirme un protocole d'accord avec JAEC
PARIS - Areva a confirmé mercredi la signature d'un protocole d'accord avec la Jordan Atomic Energy Commission pour la création d'une société commune d'exploration des ressources en uranium en Jordanie.
"Une convention minière sera mise en place pour couvrir les étapes d'exploration et d'exploitation de ce projet" qui concerne la province de Jordanie centrale, a précisé Areva dans un communiqué.
Peu avant, le roi Abdallah II de Jordanie avait annoncé à l'ouverture de l'université d'été du Medef un accord de prospection d'uranium avec Areva.
Puis dans une déclaration commune, le président français Nicolas Sarkozy et le roi de Jordanie s'étaient félicités du "protocole d'accord relatif à l'utilisation pacifique de l'énergie nucléaire qui renforcera et institutionnalisera la coopération en matière nucléaire entre les diverses organismes français et jordaniens".
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Mais une semaine plus tôt, les jordaniens avaient déjà signés un accord pour l'exploitation des ressources uranifères ... mais avec la Chine :Jordan signs uranium agreement - 28 August 2008
An agreement on uranium exploration and mining signed by the Jordan Atomic Energy Commission (JAEC) and French nuclear company Areva has been welcomed by King Abdullah II of Jordan and French president Nicolas Sarkozy.
The memorandum of understanding, signed by the two companies during King Abdullah's state visit to France, provides for the establishment of a joint venture to explore for uranium in the Middle Eastern country. A mining convention is to be drawn up to cover the exploration and exploitation stages of the project. The two country's leaders voiced their approval in a joint declaration released at the end of the visit, as well as welcoming the memorandum of understanding between the two countries on the peaceful use of nuclear energy.
The Jordanian government has previously estimated its conventional uranium reserves at 140,000 tonnes, plus a further 59,000 tonnes in phosphate deposits. [Soit au total un peu moins de 3 ans de consommation mondiale] A study into the possible extraction of uranium as a by-product of phosphoric acid production was commissioned by the Jordan Phosphate Mines Company according to reports in July.
Jordan, an energy resource-poor country that currently imports about 95% of its needs, is working towards introducing nuclear power for both energy and water desalination with plans for its first nuclear plant to start up in 2015. Earlier this month it signed a nuclear cooperation agreement with China, adding to similar agreements with the USA, France and UK. Additionally, JAEC recently signed an agreement with Canadian reactor vendor AECL and SNC-Lavalin to look into the feasibility of setting up a nuclear power program based on the Canadian-designed Candu reactor. It is also reported to be discussing the possibility of buying a reactor from Areva.
Jordan joined the Global Nuclear Energy Partnership (GNEP), the US-led initiative to expand nuclear energy use worldwide while reducing the threat of nuclear weapons proliferation, in 2007.
Jordan and China sign nuclear agreement - 20 August 2008
Jordan and China have signed a memorandum of understanding on cooperation in the peaceful use of nuclear energy, particularly electricity generation and water desalination.
The agreement paves the way for cooperation between the two countries in the fields of basic and applied research and development of peaceful uses of nuclear energy; the design, construction and operation of nuclear power plants; as well as the exploration and processing of uranium.
Touqan told the official Jordanian News Agency (Petra) that the agreement aims to establish a legal and political framework for cooperation between the two countries. He noted that that the agreement focused on the prospect of cooperation in training. Jordan will this year send five postgraduate students to undertake masters and doctorate studies in China in the field of nuclear energy upon scholarships provided by the Chinese government.
In addition, Touqan said that both China and Jordan are preparing to begin studies for the prospecting and mining of uranium in several regions in Jordan. The country has low-cost uranium resources of 140,000 tU plus another 59,000 tU in phosphate deposits. A feasibility study on recovering uranium as a by-product of phosphate production is also under way.
The Chinese ambassador said that the cooperation agreement "is the beginning of cooperation in the field of nuclear energy and other projects serving the interests of the two countries."
Jordan has signed nuclear cooperation agreements with the USA, France and UK, in respect to both power and desalination, and is seeking help from the International Atomic Energy Agency (IAEA). Jordan joined the Global Nuclear Energy Partnership (GNEP) in 2007.
The country currently imports about 95% of its energy needs. Jordan also has a 'water deficit' of about 500 million cubic metres per year. The energy minister has said that the country expects to have a nuclear power plant operating by 2015, for electricity and desalination. Jordan's Committee for Nuclear Strategy has set out a program for nuclear power to provide 30% of electricity by 2030, and to provide for exports.
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Selon les dernières indications publiées en 2008 de l'Agence internationale de l'énergie(AEN), la Jordanie dispose de 44.000 tonnes d'uranium en Ressources raisonablement assurées (RAR) et de 68.000 tonnes d'uranium en Ressources supposées (IR), soit 112.000 tonnes au total en étant sympa avec les ressources supposées.
L'uranium contenu dans les phosphates est compté pour 59.000 tonnes.
La jordanie est le 6e ou 7e producteur mondial de phosphates (selon les années, avec le Brésil). La production de phosphates de la Jordanie était de 5,85 millions de tonnes en 2006 pour une production mondiale de 142 millions de tonnes.
En théorie, il serait possible d'extraire chaque année 3.700 tonnes d'uranium des phosphates pour le monde entier (à comparer à une consommation actuelle de 67.000 tonnes) : L'uranium des phosphates
Mais la teneur moyenne des phosphates jordaniens n'est pas de 100 ppm (100 parties par million). Elle est seulement de 25 à 50 ppm pour les principaux gisements et 60 à 80 ppm pour de petits gisements.
De façon plus réaliste, la Jordanie pourrait extraire 50 à 80 tonnes d'uranium par an de ses phosphates, à condition que toute sa production soit traitée dans des usines d'acide phosphorique, ce qui n'est pas le cas. Usines qui, de surcroît, devraient être transformées pour l'extraction de l'uranium.
L'exploitation de l'uranium "classique" n'est par ailleurs pas évidente dans ce pays où l'eau est rare. Une mine d'uranium consomme en effet beaucoup d'eau dans le processus de traitement du minerai. La situation est comparable à celle de la Namibie, où deux usines de désalement de l'eau de mer sont en construction pour les besoins des mines d'uranium.
Alors, la Jordanie ne risque pas de produire 2.000 tonnes d'uranium chaque année à partir de 2010 comme l'indique l'AEN. D'autant plus qu'une mine ne se met pas en place en une année.
L'uranium contenu dans les phosphates est compté pour 59.000 tonnes.
La jordanie est le 6e ou 7e producteur mondial de phosphates (selon les années, avec le Brésil). La production de phosphates de la Jordanie était de 5,85 millions de tonnes en 2006 pour une production mondiale de 142 millions de tonnes.
En théorie, il serait possible d'extraire chaque année 3.700 tonnes d'uranium des phosphates pour le monde entier (à comparer à une consommation actuelle de 67.000 tonnes) : L'uranium des phosphates
Sur cette base et en proportion, on pourrait penser que la Jordanie serait en mesure d'extraire 152 tonnes d'uranium chaque année de ses phosphate (3.700*5,85/142).... une production de 142 millions de tonnes de phosphate permettraient seulement la production de 3.700 tonnes d'uranium par an, en supposant que toutes les usines de production d'acide phosphorique dans le monde soient pourvues d'installations pour la production d'uranium. Des quantités encore plus faibles sont obtenues sur la base d'analyses des teneurs en uranium dans les phosphates des principaux pays producteurs.
L'uranium est extrait de l'acide phosphorique, dans le traitement des phosphates par voie humide. Ce processus ne concerne qu'une partie des phosphates traités dans le monde, ce qui explique qu'un quart seulement des phosphates produits dans le monde peut donner lieu à une production d'uranium.
Cela implique que les 400 usines d'acide phosphorique qui existent à travers le monde soient pourvues d'installations pour en extraire l'uranium. Cela ne pourra pas se faire partout, demandera beaucoup de temps et d'investissements tout en étant soumis aux autorisations et au contrôle de l'Agence internationale de l'énergie atomique.
Mais la teneur moyenne des phosphates jordaniens n'est pas de 100 ppm (100 parties par million). Elle est seulement de 25 à 50 ppm pour les principaux gisements et 60 à 80 ppm pour de petits gisements.
De façon plus réaliste, la Jordanie pourrait extraire 50 à 80 tonnes d'uranium par an de ses phosphates, à condition que toute sa production soit traitée dans des usines d'acide phosphorique, ce qui n'est pas le cas. Usines qui, de surcroît, devraient être transformées pour l'extraction de l'uranium.
L'exploitation de l'uranium "classique" n'est par ailleurs pas évidente dans ce pays où l'eau est rare. Une mine d'uranium consomme en effet beaucoup d'eau dans le processus de traitement du minerai. La situation est comparable à celle de la Namibie, où deux usines de désalement de l'eau de mer sont en construction pour les besoins des mines d'uranium.
Alors, la Jordanie ne risque pas de produire 2.000 tonnes d'uranium chaque année à partir de 2010 comme l'indique l'AEN. D'autant plus qu'une mine ne se met pas en place en une année.
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Merci Nereide pour ce rappel entre réserves, ressource et production. J'avais et la même conclusion que toi mais n'avais pas eut le courage d'écrire.
La thématique des débits de production est très pertinente dans le cas de l'uranium, et ce sujet est totalement ignoré par la plupart des personnes travaillant ou connaissant l'énergie.
Le débat est toujours ridiculisé à l'extrême avec "on a plein d'Uranium" sans aucun question sur la qualité de ces ressources ni les débits de production possibles.
La thématique des débits de production est très pertinente dans le cas de l'uranium, et ce sujet est totalement ignoré par la plupart des personnes travaillant ou connaissant l'énergie.
Le débat est toujours ridiculisé à l'extrême avec "on a plein d'Uranium" sans aucun question sur la qualité de ces ressources ni les débits de production possibles.
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Merci Nereide.
Ca me rassure de savoir que ces ressources sont du pipo.
D'un autre côté, on pouvait s'y attendre car les ressources d'uranium issu des phosphate ne sont pas comptées entièrement dans les ressources d'uranium, ou alors il y a qqch qui cloche. Voir ce post et le suivant.
Ca me rassure de savoir que ces ressources sont du pipo.
D'un autre côté, on pouvait s'y attendre car les ressources d'uranium issu des phosphate ne sont pas comptées entièrement dans les ressources d'uranium, ou alors il y a qqch qui cloche. Voir ce post et le suivant.
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Re: [Uranium] Ressources, production et consommation mondiale
Investissements (les 6 milions de $ me paraissent faibles ....) à l' usine Blind River de CAMECO au CANADA dans ce qui est la plus grande usine mondiale de transformation de minerai d' Uranium en UO3 (c'est pas plutot U3O8 ?
)

http://www.saultstar.com/ArticleDisplay.aspx?e=1225359Cameco's Blind River refinery marks 25th
World's largest uranium refinery plans $6M expansion
Posted By KIM GRAHAM, SUN MEDIA CORP. Posted 1 day ago
Cameco is celebrating 25 years in Blind River, and 20 years as a corporation.
And after a quarter of a century, the company's future is looking bright as demand for world energy continues to grow.
Over the next 20 years, world demand for electricity is expected to double. Cameco's uranium sales volume has tripled since 1991.
According to the World Nuclear Association website ( world-nuclear.org),there are currently 439 reactors operating around the world, 36 under construction, 97 reactors planned and 221 proposed. Canada has 18 operable reactors, two under construction, three planned and four more are proposed.
Chris Astles, Blind River's plant manager said, "Blind River's refinery will play a major role in meeting the world's increased demand for energy. Cameco is planning a $6-million expansion at the Blind River refinery and is awaiting approval for an increased licence capacity of 24,000 tons of uranium, expected early next year."
The Blind River refinery is the world's largest commercial uranium refinery and Canada's only refining and conversion facility. The Blind River plant processes uranium concentrates from Cameco's mining operations, as well as from other Canadian and foreign producers. The refining process removes impurities and changes the chemical form to uranium trioxide (U03).
The majority of Blind River's production is shipped to Cameco's Port Hope conversion facility and to Springfields Fuels in Great Britain for conversion.
"Forty per cent of the world's nuclear energy flows through Blind River," says Astles.
Cameco has become a global company with uranium production in three countries and exploration projects around the world. It also expanded into fuel services, fuel manufacturing and generating electricity.
Today, Cameco is the world's largest supplier of uranium and conversion services.
Nuclear power is the world's third largest source of electricity at 16 per cent (coal is at 40 per cent, hydro 19, gas 15 and oil 10).
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Chine: Areva vend 49% d'UraMin à CGNPC, crée la co-entreprise pour les EPR
PARIS - Le groupe nucléaire Areva a annoncé mardi la vente de 49% de sa filiale minière UraMin à son partenaire chinois CGNPC et à des fonds souverains, et la création avec lui de la co-entreprise d'ingénierie qui développera les réacteurs nucléaires chinois de troisième génération (EPR).
"Ces accords renforcent le partenariat stratégique du groupe avec la Chine et avec l'électricien chinois CGNPC (China Guangdong Nuclear Power Company)", s'est félicité le groupe français dans un communiqué.
Ils ont été signés par la présidente du directoire d'Areva, Anne Lauvergeon, lors d'un déplacement en Chine, en présence de Zhang Guobao, président de l'Administration chinoise de l'Energie (NEA).
Le premier accord prévoit que "CGNPC et des fonds souverains chinois vont entrer à hauteur de 49% au capital d'UraMin", société minière détenue jusqu'à présent par Areva à 100%.
Le groupe nucléaire français, qui n'a pas communiqué le montant de la transaction, avait acquis la totalité du capital d'UraMin en 2007 pour 2,5 milliards de dollars (1,8 milliard d'euros), afin de sécuriser sa production d'uranium.
En revendant 49%, Areva "dégage des moyens supplémentaires pour financer le développement de ses activités", s'est félicité le groupe français, qui restera l'opérateur des projets actuels et futurs d'UraMin.
Pour CGNPC, l'accord "garantit l'accès à plus de la moitié de la production totale d'UraMin, sécurisant de ce fait la commercialisation de celle-ci".
L'accord "sécurise l'approvisionnement en uranium de nos réacteurs jusqu'en 2022 et nous permet de nous adosser à un leader dont l'expertise industrielle ainsi que les standards environnementaux, sociaux et sociétaux sont reconnus dans le monde entier", s'est félicité le président de CGNPC, Qian Zhimin.
Lors de l'acquisition d'UraMin par Areva, le groupe français avait indiqué que les gisements identifiés par la société en Afrique du Sud, en Namibie et en République centrafricaine devraient lui permettre de produire "plus de 7.000 tonnes d'uranium par an après 2012".
Le second accord, qui fait suite au contrat de fourniture de deux EPR à la Chine remporté en novembre 2007 par Areva, crée la coentreprise qui sera "en charge de l'ingénierie et des achats" des réacteurs de deuxième et troisième générations (CPR 1000 et EPR), a indiqué Areva.
Annoncé lors d'une visite officielle du président français Nicolas Sarkozy en Chine, le contrat d'Areva prévoyait la vente de deux EPR ainsi que le combustible nécessaire à leur fonctionnement et les services associés, pour un montant total de 8 milliards d'euros.
Anne Lauvergeon avait alors indiqué que la coentreprise à venir serait propriétaire de la technologie des réacteurs EPR vendus par son groupe à la Chine.
Cette société commune, qui sera détenue à 45% par Areva et 55% par CGNPC, sera "d'abord consacrée aux projets de CGNPC en Chine", mais "pourra ensuite contribuer à des projets conjoints à l'étranger", a précisé Areva mardi.
"Ces deux accords permettent d'élargir, d'étendre et d'approfondir la coopération nucléaire. C'est l'entrée dans une nouvelle phase de coopération pour les deux parties", s'est félicité Zhang Guobao, cité dans le communiqué.
Les deux groupes sont partenaires depuis les années 1980 dans le nucléaire.
La coentreprise "permettra de partager et de localiser les compétences et les ressources nécessaires à la construction des centrales de deuxième et de troisième génération", a souligné Anne Lauvergeon.
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Dernière modification par Jägermeifter le 29 oct. 2008, 11:28, modifié 1 fois.
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La saga uranium One continue :
4 millions de livres d'oxide, cela fait 1500 t d'uranium, soit la consommation de 10 réacteurs.The Dominion uranium mine has been shut down, possibly permanently, because of start-up troubles and the sharp drop in the spot price of uranium. The mine was supposed to produce over 4 million pounds of uranium oxide per year.
The owner of the South African mine, Uranium One, announced today that the facility would be put in a state of 'care and maintenance'. The company explained that the decision was based on three main factors that ruined the project's economics. One was "inflation-related increases in project costs", another was "slower than expected ramp-up in development and uranium production," while the deciding factor appears to be the recent decline in uranium prices.
Currently, it could be cheaper for Uranium One to meet its supply commitments by sourcing uranium on the spot market than extracting from its own mines. One reason the uranium price has dropped sharply in recent weeks is thought to be the abrupt exit of speculators from the market as troubled financial institutions seek to raise cash.
The spot price of uranium oxide surged to an all-time high of $137 per pound in July 2007, then slumped to $75 by October that year. After that the price was variable but trended downwards until steadying for several weeks at $65 per pound from August this year. The current spot price is $44 per pound after a dramatic drop in the last six weeks, according to Ux Consulting.
Uranium One executives said during a conference call that its contract book - all with "blue-chip" North American nuclear utilities - has less in uranium deliveries for the next 12 to 18 months than in later periods. The company can meet those commitments from its own existing uranium stocks, by supplementing those with uranium from the spot market or by borrowing stocks from other companies.
Today's news comes after a general strike at the mine on 10 October which caused the suspension of operations. Following that, Uranium One reportedly sacked 900 of its 3000 workers on the site, raising questions about how the mine could continue development.
It also follows major trouble for the company in February this year, when production estimates from Dominion were reduced by 32%.
The company said today, "Uranium One will be exploring strategic alternatives available to it at Dominion, including a sale or other disposition of its interests and, absent any improvement in the project economics, the potential closure of the project."
Cash reserves of $99 million plus another $65 million would enable Uranium One to carry out its plans in Kazakhstan and the USA, after allowing approximately $30 million for the costs of closing Dominion.
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Re: [Uranium] Ressources, production et consommation mondiale
3,5% de production mondiale en moins, et zouuuuuuuuuuuuuu
Mais le prix continue de baisser.
Ahlala, si le "marché" savait que l'on construira des milliers de réacteurs d'ici 2050, les prix ne seraient pas les mêmes !
Quoi c'est pas vrai, on n'en construira pas tant ? On m'aurait menti ?

Mais le prix continue de baisser.
Ahlala, si le "marché" savait que l'on construira des milliers de réacteurs d'ici 2050, les prix ne seraient pas les mêmes !
Quoi c'est pas vrai, on n'en construira pas tant ? On m'aurait menti ?

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Documents et présentations du colloque 2007 de l'association mondiale pour le nucléaire disponible ici :http://www.world-nuclear.org/sym/2007/s ... three.html
Toutes présentations ici : http://www.world-nuclear.org/sym/2007/programme.html
Toutes présentations ici : http://www.world-nuclear.org/sym/2007/programme.html
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Re: [Uranium] Ressources, production et consommation mondiale
Areva: reporte le projet Midwest au Canada (mine uranium).
(CercleFinance.com) - Areva a décidé avec ses partenaires de reporter l'exploitation de la mine de Midwest située dans la province du Saskatchewan au Canada, projet dans lequel le spécialiste français du nucléaire détient un intérêt de 69,16%, aux côtés de Denison-Mines (25,17%) et OURD (5,67%).
' Compte tenu de la récente baisse des cours de l'uranium, de l'augmentation significative des coûts d'exploitation dans la région et des incertitudes liées au calendrier réglementaire, la rentabilité du projet serait incertaine si son exploitation était lancée aujourd'hui. ' explique le groupe. Ce projet Midwest était initialement prévu pour 2010.
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http://www.miningweekly.com/article.php?a_id=145901Impending shortfall leads to rising African uranium production
By: Fatima Gabru
Published on 7th November 2008
An impending shortfall in the supply of uranium will become apparent in the next two years, within which time production of the mineral from African resources will rise to significant levels, predicts resource consultant and con- tractor MSA Geoservices associate Richard Wadley.
“The forecasted uranium consumption up to 2015 exceeds the forecasted uranium production up to the same period. In the short term, by 2015 or 2020, there will not be enough uranium production from primary sources to meet the committed expansion in nuclear generating capacity,” he explains.
Uranium is used in nuclear power stations for the generation of electricity.
African Resources
Wadley comments that the use of African resources for the production of uranium features well in the emerging shortfall of the mineral. In Africa, there is generally a favourable legislative environment for the development of uranium mines.
While in comparison, in Australia, which contains about a quarter of the world’s known resources, prohibitive environmental and political legislation towards uranium-mining inhibits the mining of the resource. An example is that existing mines, like resources giant BHP Billiton’s Oympic Dam mine, are allowed to expand, but not permitted to open new mines.
Africa, however, with its large resources of uranium is more likely to be allowed to develop these resources, and is already becoming an increasingly signifi- cant uranium producer.
Currently, South Africa, Namibia and Niger are the only three uranium producing countries in Africa. By the end of this year, new uranium producer Paladin Energy’s Kayelekera mine, in Malawi, will be coming on line, making Malawi the next uranium producer to come on line in Africa.
At Lumwana, in Zambia, explorer and mine developer Equinox Minerals published its uranium feasibility study (UFS) earlier this year in April. Equinox has stated that before the company can implement the UFS, it will require the Zambian Government to complete national uranium mining, processing and export code and grant the company environmental impact assessment approval, for which submission has already been made.
Further, Equinox still needs to negotiate viable yellowcake off-take agreements and secure its requisite Uranium project capital financing. Should the company achieve these remaining requirements, it expects plant construction to take 18 to 24 months.
The world’s newest uranium mine belongs to Paladin Energy, which opened the Langer Hein-rich mine and uranium plant in Namibia over a year ago.
At Mokobaesi, in Botswana, an old well-known deposit is being evaluated by Australian company A-Cap Resources, which is busy with a prefeasibility study in the area. If the area is established as a feasible project, it will be brought into production fairly rapidly.
Uranium for Nuclear Power
Currently, there are about 440 operating nuclear plants around the world, with another 130 plants under construction. These are expected to be completed and to come on line over the next five years. World uranium production has to supply these operating plants, as well as the new ones that will be coming on line.
Current global consumption of uranium from the 440 operating plants is about 170-million pounds of triuranium octoxide (U3O8) a year, with production at about 110-million pounds of U3O8 a year. The deficit of 60-million pounds of U3O8 is being made up from the reprocessing of US and Soviet nuclear warheads. U3O8 is the most stable form of uranium oxide and is the form most commonly found in nature.
Wadley says that consumption will definitely increase to over the 200-million pounds of U3O8 a year required, by as soon as 2015.
The nuclear warheads are being reprocessed under a 20-year agreement between the countries, which will come to an end in 2013. Currently, about 60%, or about 400-million pounds of uranium, has been reprocessed.
“Although both countries still possess nuclear warheads, there is no indication of a new agreement to continue this repro-cessing. Each of these countries wants to keep a small nuclear arsenal. Each country will, however, continue to reprocess from its own stockpile, but not under any agreement, and not in the same amounts currently being reprocessed. The current shortfall in primary production that is being met by the reprocessing of the warheads will, therefore, most likely not happen after 2013,” says Wadley.
In 2015, when demand will most likely increase to 200-million pounds a year of U3O8, primary production would have increased to only 160-million pounds a year of U3O8. This increase in production will come from a number of the world’s uranium mines increasing their production.
Increased production will come from projects such as uranium producers Cameco, Areva, Idemitsu Canada Resources and the Tepco Resources joint venture at Cigar Lake mine, in Canada. The mine had flooded and has been restored, with com- missioning to start in 2009.
This project should bring about 10-million pounds a year of U3O8 into production. In Australia, resource giant BHP Billiton’s Olympic Dam mine is looking at a huge expansion of its current operations. In Niger, Areva will be opening a new mine within the next two years.
These and other projects will bring in a likely 50-million pounds of U3O8 a year of new production, that will take primary production to 160-million pounds a year, which is still short of the projected required consumption for 2015.
An additional challenge for uranium production is that several current operations in places such as Canada, Niger and Kazakhstan, as well as diversi- fied miner Rio Tinto’s Rössing mine, in Namibia, will be reaching end-of-mine-life between now and 2015. New greenfield uranium mines take at least eight to ten years to come into production.
“New explorers have been searching for uranium deposits and collecting funds from investors, and by the time these speculative explorations are proven, the shortfall gap would have passed. The most likely candidates to fill in some of the production shortfall will be the uranium-miners who are currently developing known deposits,” says Wadley.
Global Resources
Uranium is not an uncommon element, and the International Atomic Energy Agency quotes extensive known recoverable resources of uranium, at costs less than current prices.
“Much of the world’s already known uranium deposits are now being re-evaluated, and could be brought into production by the committed established uranium miners as well as new committed miners,” says Wadley.
He comments that the profit will be made by the companies already conducting feasibility studies or those in the process of developing known uranium resources into mines. “This kind of exploration will continue to boom,” he adds.
Wadley points out that new explorers that are serious about entering the uranium market and are committed to bringing mines into production stand a good chance of succeeding with exploration and development.
He says that the same can be said of the old uranium operations on the Witwatersrand. Miners such as gold and uranium producers First Uranium and Mintails, and gold-miner Durban Roodepoort Deep are re-evalua- ting old uranium deposits on the Witwatersrand. “These re-evaluations of old deposits all stand a good chance of becoming profitable, producing mines,” he adds.
Up/Down Trends
Wadley says that the spot price of uranium has very little relevance to the real uranium market. “About 85% of uranium is not sold on the spot market – it is sold under contract,” he says.
The spot price is based on the few transparent public sales of uranium that are surplus to contractual requirement sales. Alternatively, if a producer has not managed to secure a contract for some reason, the uranium is sold on the spot market. “Even though the spot market price is widely quoted, it has very little relevance to the real uranium market, other than as a frequently abused way of exciting the interest of investors,” says Wadley.
The current spot market price of uranium has fallen to half of what its peak was at in June 2007.
Wadley says, “An important issue is that the long-term contract prices have increased.” Contract prices are confidential contracts between producers and users, which are not readily available or seen publicly. These prices were $10/lb of U3O8 to $15/lb of U3O8 during 2000 and 2002.
That was at the same level to which the spot price of uranium had fallen at that time. Currently, contract prices have risen to about five times that level and most contracts are now being settled at between $40/lb of U3O8 and $60/lb of U3O8.
Further, at the beginning of the decade, contract terms were drawn up for periods of up to a year, with contracts now being signed for much longer terms of up to five years.
“This significant increase in contract prices as well as contract terms, is very good news for producers,” says Wadley.
However, the downward spot price has had a significant impact on uranium exploration projects. “The uranium exploration market has been characterised by a lot of hype over the last few years, by a number of speculative junior exploration investors. A lot of them have had no intention of mining in uranium, but have created a speculative hype to attract investment in uranium exploration.
“Much of this has disappeared because of the collapse of the spot price to half of what it was a year ago. A lot of the speculative players have left the market, and many investors have lost their money. This will impact on greenfield and grass roots projects, which will decline in the next year,” says Wadley.
The serious participants in uranium-mining have largely been unaffected by the drop in the spot price. Wadley says the big companies like Cameco, Areva and BHP Billiton have had their share prices going up and coming down, without really affecting the companies.
“These are strong companies with good growth projects, which grow and thrive despite investor market hype. Contract prices for these companies are possibly as much as five times higher than what they were at the beginning of the decade,” he says.
Wadley comments that, even though Uranium One’s Dominion operation was suspended in October, this does not mean that other Southern African uranium producers are vulnerable, provided that these companies have secure contracts and projects that are well on the way to production.
“Dominion’s suspension should not be seen as symptomatic of industry vulnerability. Southern African producers are still well placed to take advantage of the imminent production shortfall. However, difficulties to secure funding in the current financial market could possibly slow down, defer or postpone operations that are currently under construction,” he says.
Wadley says that the uranium spot price will probably turn and rise again within the next year, because there is a genuine shortage looming, which cannot be easily resolved. Contract prices will remain steady at current levels, which will continue to be profitable for producers.
In the long run, however, there will be a shortfall in uranium production, which will lead to investments in the development of new deposits. Wadley expects that investors will move from speculative explorers to the genuine producers, because that is where they will make money. “In early October, Kayelekera, in Malawi, announced that it had secured a long-term contract for its uranium, which, for an investor, is good news,” he adds.
Wadley believes that from an economic point of view, the downward adjustment in spot prices has been healthy for the market, in that it has taken a lot of distracting noise out of the market.
“The current downward trend has left behind the serious players with serious objectives who are much easier to evaluate, because they have known resources. These uranium producers have time frames on developments, and long-term contracts at reasonable prices, which the serious investor can analyse and invest in,” concludes Wadley.
Editor: Shannon O’Donnell
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Re: [Uranium] Ressources, production et consommation mondiale
Uramin change de nom pour s'appelr "Areva Resources Southern Africa"
UraMin becomes Areva Resources Southern Africa - 19 December 2008
Following its acquisition by France's Areva for more than $2.5 billion in 2007, South African uranium exploration company UraMin has been renamed as Areva Resources Southern Africa. The renaming of UraMin brings it within its Areva branding. At the time of the purchase, Areva said that it intended to integrate UraMin as quickly as possible in order to optimize synergies with its existing mining activities and allow the company to develop its full potential. UraMin was developing its advanced stage exploration projects at Trekkopje in Namibia, Bakouma in the Central African Republic and Ryst Kuil in South Africa. According to Areva, the deposits identified by UraMin in South Africa, Namibia and the Central African Republic should result in an annual production of more than 7000 tonnes of uranium after 2012.
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Uranium One commits to Honeymoon - 19 December 2008
The Honeymoon mine in South Australia should begin production in 2010, following a fresh commitment from Canada-based Uranium One and an engineering contract with Ausenco.
Ausenco said that it has taken on an engineering, procurement and construction management (EPCM) contract for the project. From its newly established office in Adelaide it said the contract award follows the completion of the initial feasibility study, technical reviews and engineering program earlier this year.
Zimi Meka, Ausenco's CEO, said: "The contract award follows the conversion of initial front end engineering and design (FEED) work into a very strategic EPCM contract for Ausenco in one of potentially the future's largest energy sources, uranium. Our scope is to engineer and construct the uranium processing plant to produce uranium to a U3O8 state."
First production at Honeymoon, which will use the in-situ recovery method, is expected in mid-2010, later ramping up to 400 tonnes per year of U3O8. The remaining development is expected to cost A$70 to A$80 million ($50 to $56 million).
The award of the contract follows the establishment of a joint venture between Uranium One and Japan's Mitsui to develop Honeymoon, 75 km northwest of Broken Hill. Mitsui, now with 49% of Honeymoon, has the right to similar joint ventures for the Gould Dam and Billeroo deposits.
The development costs of Honeymoon will be borne in proportion to the two companies' respective shares in the joint venture. According to Uranium One, most of the A$104 million ($70.2 million) Mitsui paid for its share of the projects will be used to advance the development of Honeymoon through to commercial operation.
The science bit
The Honeymoon deposit itself occurs in porous sand of the Yarramba palaeochannel at a depth of 100-120 metres and extending over about 150 hectares. It has indicated resources of 2900 tonnes U3O8 at 0.24% - an average grade thickness (GT) of 0.42 metre percent (m%) U3O8 - with 900 tonnes U3O8 at a GT of 0.38 m% in East Kalkaroo adjacent. A drilling program in 2004 failed to extend these resources, which dampened plans for development. In January 2007, a ten-year export permit was granted, but some approvals from the state government are still pending.
Mineralisation at Billeroo West (including Gould Dam) in the Billeroo palaeochannel 80 kilometres northwest of Honeymoon is similar to that at Honeymoon. Following exploration in late 2004 of one kilometre of palaeochannel using prompt neutron fission technology, the indicated resource was stated as 2000 tonnes U3O8 at a GT of 0.33 m% or 0.12% U3O8. Much of the palaeodrainage system there is still untested.
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Re: [Uranium] Ressources, production et consommation mondiale
tataaaaa, ça y est !
Bon ce n'est pas vraiment nouveau, mais cela est majeur.Niger : AREVA va exploiter le gisement minier d’Imouraren
Le gouvernement du Niger et Anne Lauvergeon, Présidente du Directoire d’AREVA, ont signé aujourd’hui à Niamey la convention minière attribuant à AREVA le permis d’exploitation du gisement minier d’Imouraren.
Cette étape couronne trois ans de travaux de recherche et de développement du gisement et intervient à l’issue d’un processus approfondi de validation des aspects industriels, sociaux et environnementaux du projet proposé au Niger.
A l’occasion d’un entretien avec son Excellence Mamadou Tandja, le président de la République du Niger, Anne Lauvergeon a exprimé la fierté du groupe AREVA de renforcer ainsi son partenariat historique avec le Niger qui a commencé il y a un demi-siècle.
L’accord prévoit une répartition capitalistique de 66,65 % pour AREVA et de 33,35 % pour l’Etat du Niger dans la société créée en vue de l’exploitation du gisement.
Avec une production à terme estimée à 5 000 tonnes par an pendant plus de 35 ans, un investissement initial de plus de 1,2 milliard d’euros (800 milliards de francs CFA) et la création de près de 1 400 emplois directs, l’exploitation du gisement d’Imouraren est le plus grand projet industriel jamais envisagé au Niger. Imouraren est la mine d’uranium la plus importante de toute l’Afrique et la deuxième du monde. Le démarrage de sa production à l’horizon 2012 permettra au Niger de doubler sa production actuelle et de se placer au deuxième rang mondial des pays producteurs d’uranium.
Outre l’apport financier généré par l’exploitation minière, AREVA poursuivra et renforcera la politique qu’il mène en faveur du développement socio-économique du Niger. Déployées au sein de structures impliquant toutes les parties prenantes des projets, ces actions concernent les domaines de la santé, de l’éducation et de la formation, des transports et de l’accès à l’eau et à l’énergie des populations locales. Elles représentent pour les cinq prochaines années un engagement financier évalué à 6 millions d’euros par an.