Ur-Energy To Develop Wyoming Uranium Mine As Prices Soar, Sales Contracts Grow

Zinger Key Points Production of up to 1 million pounds a year of uranium ore concentrate could start in two years.

Amid uranium price rally, miners have been scrambling to increase production capacity.

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Colorado-based uranium miner Ur-Energy Inc. URG said Wednesday it will build out its Shirley Basin mine in Wyoming, making it the latest company to move projects forward as the price of the nuclear fuel soars.The development will nearly double the company’s permitted mine production capacity to 2.2 million pounds. The project is wholly owned by the company and fully permitted and licensed in Carbon County, Wyoming."This decision was based on our growing uranium sales contract book, a strong uranium market price and an expectation of growing demand for uranium as nations increasingly move toward clean nuclear power," the company said.At Shirley Basin, Ur-Energy plans to build a plant capable of producing up to 1 million pounds […]

The future of uranium mining in Australia

The Olympic Dam mine in South Australia. Credit: Fairfax Media via Getty Images. Australia, known for its vast landscapes and rich mineral resources, stands at the forefront of global uranium production. As the world’s fourth-largest producer of uranium behind Kazakhstan, Canada and Namibia, Australia plays a pivotal role in fuelling the world’s nuclear power plants. However, recent developments and emerging trends hint at changes for the future of uranium mining in the country.

Australia’s uranium mining industry has deep roots dating back to the 1950s, when significant quantities of uranium were exported to the UK and US for nuclear weapons development. The country’s abundant uranium deposits, concentrated mainly in South Australia, Western Australia and the Northern Territory, have attracted significant investment and interest from both domestic and international stakeholders.

Despite fluctuations in market demand over the years, Australia has maintained a steady position as a reliable uranium supplier to global markets. […]

Uranium Firms Revive Forgotten Mines as Price of Nuclear Fuel Soars

Premium Uranium Firms Revive Forgotten Mines as Price of Nuclear Fuel Soars (Bloomberg) — Across the US and allied countries, owners of left-for-dead uranium mines are restarting operations to capitalize on rising demand for the nuclear fuel.

At least five US producers are reviving mines in states including Wyoming, Texas, Arizona and Utah, where production flourished until governments soured on the radioactive element following the 2011 Fukushima nuclear disaster in Japan.

Most of those American mines were idled in the aftermath of Fukushima, when uranium prices crashed and countries like Germany and Japan initiated plans to phase out nuclear reactors.

Now, with governments turning to nuclear power to meet emissions targets and top uranium producers struggling to satisfy demand, prices of the silvery-white metal are surging. And that’s giving those once-unprofitable uranium operations a chance to fill a supply gap.Uranium has been used as an energy source for more than six decades, […]

Skyharbour’s Partner Company North Shore Uranium Commences Drill Program at Falcon Uranium Property

Vancouver, BC, March 08, 2024 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (“Skyharbour” or the “Company”), is pleased to announce that its partner company, North Shore Uranium (“North Shore”), has commenced its drill program at the Falcon Property (“Falcon” or the “Property”) located at the eastern margin of the Athabasca Basin in northern Saskatchewan. North Shore is planning to drill three targets associated with electromagnetic (“EM”) conductors. Information pertaining to the drill program and a summary of the Property were provided by the Company on February 28, 2024 and December 19, 2023.

Location Map of Falcon Project:

The drill program is being managed by TerraLogic Exploration Inc. The final three targets selected for drilling, which lie along a strong, dominantly northeast-trending EM conductor system, are shown in the image below. For each target, a subsurface geophysical model of the EM conductor […]

Morning Wrap: ASX 200 to open at record highs, Wall Street rallies + Uranium, gold stocks higher

S&P 500, Nasdaq and gold all hit fresh record highs overnight, bond yields and the US dollar continued to ease following Powell’s second day of speaking at Capitol Hill, Novo Nordisk surpasses Tesla in market cap, the European Central Bank kept rates on hold but markets increasingly expect a June rate cut.

Let’s dive in. S&P 500 SESSION CHART

S&P 500 intraday S&P 500 gaps up and finishes near best levels (Source: TradingView) ASX TODAY

ASX 200 set to open at another fresh all-time high Coast Entertainment 48.5m block trade crosses at 45.5 cents (3.2% discount to last close) representing 10.1% of the company Genesis Minerals reports first-half net profit of $17.7m, says its making rapid progress towards goal of producing 300,000 ounces per annum ( Announcement ) Ramelius in exclusive due diligence to buy Karora ( AFR ) Pacific Current sells 4.0% GQG […]

Sibanye-Stillwater is weighing up offers for SA uranium

SIBANYE -Stillwater was considering offers for its uranium assets which could see it swap resources for a stake in a pure-play miner of the fuel.

“We have had interest out of Canada, Australia – your key uranium jurisdictions,” said Sibanye-Stillwater CEO Neal Froneman who said his company was also weighing potential partnerships with mining companies on a “vanilla” joint venture basis.

“We have had lots of interest and we are very open-minded as to who we could work with. We have got to do it on the best commercial terms,” he said.

Sibanye-Stillwater has about 32 million pounds of uranium contained in tailings at its mothballed Cooke operations west of Johannesburg and about as much underground at the Beatrix mine in the Free State.“These are some of the best pre-developed uranium assets in the world. The Cooke dumps, it is just uranium sitting on surface. It doesn’t really have to be mined,” […]

U.S. Mines Race to Restart As Uranium Prices Skyrocket

Decline in uranium prices and fallout from the Fukushima disaster led to the shutdown of American uranium mines, but a recent surge in prices is prompting their restart.

Major industry players convene at mining conferences, emphasizing the increasing importance of uranium in the context of climate change and rising nuclear power demand.

With projections of a significant rise in uranium demand, the reopening of U.S. mines signifies a comeback for an industry that nearly vanished, driven by geopolitical tensions and the need for supply security.

It’s been a long time coming, but the bulls are finally back in uranium. And with them comes the restart of multiple uranium projects that have been taken offline in the years while the commodity slouched in price.We have long stated here on Zero Hedge that nuclear power is an obvious win/win: it’s clean, it’s safe, it provides robust power and, most importantly to […]

7 Nuclear and Uranium Stocks to Power Up Your Portfolio

Thanks to supply-demand issues, uranium prices are at 16-year highs . And they’re not likely to come down any time soon, creating an opportunity for beaten-down uranium stocks.

To start, one of the world’s biggest producers of uranium, Kazatomprom just said, “It will produce only 80% of its permitted maximum uranium output allowed under Kazakh subsoil usage contracts, instead of the previously announced 90% level,” as noted by S&PGlobal.com .

“The company had warned in a Jan. 12 statement about the potential to not meet the previously indicated 90% level due to the sulfuric acid issue and delays in completing construction works at newly developed [uranium] deposits.”

On top of that, demand is strongly rebounding. Especially with 22 countries – including the U.S., Canada, the UK, and France – pledging to triple their nuclear capacity by 2050 . Fueling further upside, uranium miners are struggling to get uranium out of the ground […]

� US Uranium mines spring back to life amid global demand surge and geopolitical tensions

In response to surging global demand for uranium, previously abandoned mines across the US are resuming operations. Five American producers are revitalizing sites in Wyoming, Texas, Arizona, and Utah, where production halted post-Fukushima. The nuclear energy revival comes as countries focus on emissions targets, causing uranium prices to soar. Despite top producers facing setbacks, the industry anticipates an upswing, with small mines reopening. As the world grapples with geopolitical uncertainties, the US industry aims to secure its supply and address the pressing need for new, major mines to meet escalating demand.

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By Jacob Lorinc and Maria Clara Cobo

Across the US and allied countries, owners of left-for-dead uranium mines are restarting operations […]

Cosa Resources Announces Commencement of Diamond Drilling at 100% Owned Ursa Uranium Project in Athabasca Basin, Saskatchewan

Vancouver, British Columbia–(Newsfile Corp. – March 4, 2024) – Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) (" Cosa " or the " Company ") is pleased to announce that following completion of ground-based geophysical surveying, the Company has commenced diamond drilling at its 100% owned Ursa uranium Project in the Athabasca Basin, Saskatchewan (" Ursa " or the " Property ").

Highlights Up to 3,000 metres of drilling planned to evaluate the highly prospective Kodiak target area

Interpretation of historical boulder geochemistry survey results identified large illite, uranium, and boron anomalies down-ice of the Kodiak target area

Mobilization of additional fuel and supplies to facilitate larger spring and summer drill program is underway Keith Bodnarchuk, President and CEO, commented: "After months of assembling an industry-leading exploration team and a portfolio of prospective and underexplored uranium projects, we are thrilled to announce Cosa’s inaugural drill […]

Left-for-dead uranium mines are being revived as prices soar, countries eye nuclear power to address climate change

The Mochovce nuclear power plant in Mochovce, Slovakia last November. Across the US and allied countries, owners of left-for-dead uranium mines are restarting operations to capitalize on rising demand for the nuclear fuel.

At least five US producers are reviving mines in states including Wyoming, Texas, Arizona and Utah, where production flourished until governments soured on the radioactive element following the 2011 Fukushima nuclear disaster in Japan.

Most of those American mines were idled in the aftermath of Fukushima, when uranium prices crashed and countries like Germany and Japan initiated plans to phase out nuclear reactors.

Now, With governments turning to nuclear power to meet emissions targets and top uranium producers struggling to satisfy demand, prices of the silvery-white metal are surging. And that’s giving those once-unprofitable uranium operations a chance to fill a supply gap.Uranium has been used as an energy source for more than six decades, fueling nuclear power plants […]

Uranium firms revive forgotten mines as price of nuclear fuel soars

Production has not kept pace due to years of underinvestment, says Texas-based UEC Production has not kept pace due to years of underinvestment, says Texas-based UEC By: Bloomberg

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Across the US and allied countries, owners of left-for-dead uranium mines are restarting operations to capitalize on rising demand for the nuclear fuel.

At least five US producers are reviving mines in states including Wyoming, Texas, Arizona and Utah, where production flourished until governments soured on the radioactive element following the 2011 Fukushima nuclear disaster in Japan.Most of those American mines were idled in the aftermath of Fukushima, when uranium prices crashed and countries like Germany and Japan initiated plans to phase out nuclear reactors.Now, With governments turning to nuclear power to meet emissions targets and top uranium producers struggling to satisfy demand, prices of the silvery-white metal are surging. And that’s giving those once-unprofitable uranium operations a […]

ATHA Energy Announces Approval to List on TSXV and Receipt of Final Order for Arrangement With Latitude Uranium

ATHA Energy Announces Approval to List on TSXV and Receipt of Final Order for Arrangement With Latitude Uranium GlobeNewswire March 01, 2024

VANCOUVER, British Columbia, March 01, 2024 (GLOBE NEWSWIRE) — ATHA Energy Corp. ( CSE: SASK ) ( FRA: X5U ) ( OTCQB: SASKF ) (“ ATHA ” or the “ Company ”) is pleased to announce that it received final approval to list ATHA’s common shares on the TSX Venture Exchange (“ TSXV ”) with trading to commence at market opening on March 4, 2024, and will continue to use its current trading symbol. The CUSIP and ISIN numbers have not changed.

ATHA’s common shares have been listed on the Canadian Securities Exchange (the “ CSE ”) since April 11, 2023, under the trading symbol “SASK”. ATHA has applied to voluntarily delist its common shares (the “ Delisting ”) from the CSE, prior to completion of the listing […]

Uranium price highs boost Toro plans for Wiluna play

Toro Energy’s uranium process solutions will be separated, filtered and dried to produce uranium oxide concentrate, often referred to as ‘yellowcake’. With uranium prices soaring globally, Toro Energy has reconfirmed its commitment to constructing its Lake Maitland pilot plant to test ores from three uranium-vanadium deposits within a radius of 110km south-west of Wiluna in Western Australia.

The company, which has declared the project an “asset of global significance”, says its recently-commissioned pilot plant will test improved beneficiation and hydrometallurgical circuits that it has developed from its bench-scale research, at closer-to-production scale and as single streams.

Management says ore drawn from its deposits near Wiluna – namely at Lake Way, Centipede-Millipede and the most distant Lake Maitland – will make up what will ultimately become the company’s extended Lake Maitland operation. Its strategy confirmation comes at a time of resurgent uranium prices that have hit 18-year highs. As Toro continues to […]

North Shore Uranium Provides Falcon Property Drill Program Update

VANCOUVER, BC / ACCESSWIRE / February 28, 2024 / North Shore Uranium Ltd. (TSXV:NSU) (" North Shore " or the " Company ") is pleased to provide an update on the upcoming drill program at its 55,699 hectare Falcon Property (" Falcon " or the " Property ") located at the eastern margin of the Athabasca Basin in northern Saskatchewan. The Company has further refined its targeting criteria and the drill program is set to commence in mid-March.

As reported by the Company on December 19, 2023, Falcon is a highly prospective uranium exploration property with a limited exploration history in a part of the Athabasca Basin region that is seeing increased exploration activity and recent discoveries.Reinterpretation of electromagnetic (" EM ") data complemented by geophysical data acquired in 2022 has allowed the Company to identify high priority uranium targets in areas where there has been no previous drilling.

North Shore […]

Standard Uranium Begins Drilling at Atlantic Project, Eastern Athabasca Basin

VANCOUVER, British Columbia, Feb. 27, 2024 (GLOBE NEWSWIRE) — Standard Uranium Ltd. (“ Standard Uranium ” or the “ Company ”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that drilling activities have commenced at the Company’s 3,061-hectare Atlantic Project (“ Atlantic ” or “the Project ”). Atlantic is situated in the prolific eastern Athabasca Basin, northern Saskatchewan (Figure 1).

The Project is currently under option (the “ Option ”) to ATCO Mining Inc. (the “ Optionee ”) an arms-length company listed on the Canadian Securities Exchange (CSE: ATCM). Pursuant to the Option, the Optionee can earn a 75% interest in Atlantic over three years. The Optionee-funded winter 2024 drill program is planned to satisfy the first year of minimum exploration expenditures required by the Option.

Highlights: Standard Uranium’s geological team arrived at site on February 26 th and drilling has started on the first hole of the […]

Uranium Week: No Sanctions On Russian Imports

This story features PALADIN ENERGY LIMITED. For more info SHARE ANALYSIS: PDN

While 500 more sanctions have now been placed on Russia, uranium imports are not included.

-No sanctions of Russian uranium exports
-Congress yet to make a decision
-Spot price suffers from lack of buyers -Paladin Energy reverses an impairment Following the death of Aleksey Navalny, the US government has levied additional sanctions on over 500 Russian individuals and businesses.This latest round of sanctions targets Russia’s financial system, its military supply complex, and other “entities and individuals, including those engaged in sanctions evasion and circumvention, and those bolstering Russia’s future energy and metals and mining production”, uranium industry consultant TradeTech reports.The sanctions, however, stop short of targeting Russia’s nuclear fuel or reactor technology exports. While Rosatom is named in the revised sanctions protocol, and this represents the sixth time the state-owned nuclear technology company has faced sanctions, the […]

Victory Battery Metals Announces Option Agreement in Uranium Project in the Athabasca Basin, Saskatchewan

Mr. Mark Ireton reports: Strategically located in the Uranium City District, which is undergoing a major exploration rejuvenation, led by Aero Energy Corp.

VANCOUVER, BC / ACCESSWIRE / February 26, 2024 / Victory Battery Metals Corp. (CSE:VR) (FWB:VR61) (OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce it has acquired an option interest in a uranium property on the north margin of the Athabasca Basin.

The Property – Chariot River Uranium

The Property is located 15 km northwest of Uranium City in the Beaverlodge Uranium District and is comprised of 120 claims spanning 1,978 ha over the Chariot River.The property is bordered by Atha Energy Corp to the south and east, is about 1 km south of Eagle Plains Resources Ltd and is north of Aero Energy’s "Strike Property" with numerous uranium showings.Aero Energy, a restructured company, is focused on re-evaluating properties in the Beaverlodge District, with […]

Energy Fuels preparing two more US uranium mines for production

In anticipation of continued strength in uranium markets, US-based Energy Fuels is preparing two more mines in Colorado and Wyoming for production and is readying for exploration drilling to increase resources .

This follows hot on the heels of the company starting production in late 2023 at Pinyon Plain, in Arizona, as well as La Sal and Pandora, in Utah. Once production is fully ramped up at these three mines by mid- to late-2024, Energy Fuels will be producing at a run-rate of 1.1-million to 1.4-million pounds a year of uranium oxide.

The additional mines expected to enter production within the next year are Whirlwind, in Colorado, and Nichols Ranch, in Wyoming, These two mines could potentially increase production to a run-rate of more than two-million pounds a year by as early as 2025.

“We have a bullish long-term view of uranium prices, and we are investing to increase production,” said president […]

France’s $1.6bn uranium deal with Mongolia faces delays

A $1.6-billion uranium mining deal between France and Mongolia that is part of French efforts to diversify supplies to power its fleet of nuclear reactors is running into political hurdles.

A debate about protecting strategic resources in Mongolia risks delaying the finalization of the agreement until after elections in June, according to two people familiar with the matter who asked not to be identified. Progress has also been hampered after the Asian country’s chief negotiator stepped down, a third person said, meaning the deal had to be redrafted.

French uranium producer Orano reached an outline accord to develop and operate the Zuuvch-Ovoo mine in Mongolia in October during a trip by the nation’s President, Khurelsukh Ukhnaa , to Paris to meet with counterpart Emmanuel Macron .

A final investment agreement was expected to be signed by the end of last year, with production due to start in 2028.A long delay or even […]

Standard Uranium Mobilizes for Inaugural Drill Program at Atlantic Project, Eastern Athabasca Basin

VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) — Standard Uranium Ltd. (“ Standard Uranium ” or the “ Company ”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that mobilization has commenced in preparation for the Company’s inaugural drill program at the 3,061-hectare Atlantic Project (“ Atlantic ” or “the Project ”). Atlantic is situated in the prolific eastern Athabasca Basin, northern Saskatchewan (Figure 1).

The Project is currently under option (the “ Option ”) to ATCO Mining Inc. (the “ Optionee ”) an arms-length company listed on the Canadian Securities Exchange (CSE: ATCM). Pursuant to the Option, the Optionee can earn a 75% interest in Atlantic over three years. The Optionee-funded winter 2024 drill program is planned to satisfy the first year of minimum exploration expenditures required by the Option.

Highlights: Approximately 2,000-3,000 metres planned across 4-6 drill holes, targeting high-grade 1 unconformity-related uranium mineralization.

[…]

Blue Sky Uranium Announces Positive New Preliminary Economic Assessment for Ivana Uranium-Vanadium Deposit, Amarillo Grande Project, Argentina

Kodiak Copper Mr. Nikolaos Cacos reports:

VANCOUVER, BC, Feb. 22, 2024 /CNW/ – Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) , "Blue Sky" or the "Company") is pleased to announce the results of a new Preliminary Economic Assessment ("PEA") for the Ivana Uranium-Vanadium deposit at the Company’s 100% owned Amarillo Grande Project in Rio Negro Province, Argentina. The updated PEA incorporates a new mineral resource estimate, in which approximately 80% of the resources are now in the Indicated category. The PEA demonstrates robust economics from a surficial mining operation, entailing 11 years of uranium and vanadium production:

PEA Highlights (All figures in US dollars) After-tax NPV 8%: $227.7 million

After-tax IRR: 38.9% After-tax Payback period: 1.9 years Pre-production Capital Cost: $159.7 million, includes $35.4 million contingency Life of mine ("LOM") Sustaining Capital Cost: $27.3 million, includes $5.4 million contingency Average LOM Total Cash Cost net […]

Askari stomps onto hot uranium ground in Tanzania

Askari Metals’ search for new exploration ground has led it to the wilds of Tanzania. Credit: File Askari Metals has capped off its hunt for new exploration ground by staking a claim for the 260-square-kilometre Matemanga uranium project in Tanzania as the heavy metal’s price surges on clean energy demand.

The company says its decision to pounce on the ground came on the back of extensive geotechnical reviews that identified the area as a hot uranium target with significant potential. The strategic move also coincides with uranium prices heating up and doubling in the past year as governments around the world embrace the nuclear fuel.

The Matemanga project area lies about 470km south-west of Tanzania’s capital Dar es Salaam and encloses a geological setting in line with other nearby deposits, including the Nyota uranium project that contains a resource of 124.6 million pounds of uranium oxide at an oxide grade of […]

Standard Uranium Signs Definitive Agreement to Option Atlantic Project in Eastern Athabasca Basin

VANCOUVER, British Columbia, Feb. 20, 2024 (GLOBE NEWSWIRE) — Standard Uranium Ltd. (“ Standard Uranium ” or the “ Company ”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that it has signed a definitive option agreement (the “ Option Agreement ”), dated February 16, 2024, with ATCO Mining Inc. (the “ Optionee ”), an arms-length company listed on the Canadian Securities Exchange (CSE: ATCM). Pursuant to the Option Agreement, the Optionee has been granted the option (the “ Option ”) to earn a 75% interest over three years in the 3,061-hectare Atlantic Project located in the eastern Athabasca Basin. The Option Agreement gives effect to the term sheet previously signed with ATCO Mining Inc., dated February 9, 2024.

The Option is exercisable by the Optionee completing cash payments, arranging for the issuance of Optionee shares to the Company and incurring exploration expenditures on the Project, summarized in […]

F3 Uranium: Canadian GoldCamps to Earn 50% of Murphy Lake for $10M Exploration Spend

Mr. Dev Randhawa reports:

Kelowna, British Columbia–(Newsfile Corp. – February 20, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (" F3 " or the " Company ") is pleased to announce that it has entered into a non-binding Letter of Intent ("LOI") with Canadian GoldCamps Corp. (" Canadian GoldCamps ") wherein Canadian GoldCamps will enter into a definitive option agreement with F3’s newly incorporated wholly-owned subsidiary F4 Uranium Corp. ("F4"). The staged option will allow Canadian Goldcamps to earn up to a 70% interest in the Murphy Lake Property (the "Property") in the Athabasca Basin, Saskatchewan. The Property is located in the north-eastern corner of the Athabasca Basin, 30 km northwest of Orano’s McLean Lake deposits, 5 km south of ISOEnergy’s Hurricane Uranium Deposit and covers approximately 6.1 square kilometers of land.

Dev Randhawa, CEO of F3 and incoming Executive Chairman of F4 commented: "With this transaction, we have […]