U3O8 Uranium.

[stolwyk]

Mitigating a long-term shortfall of world oil production
Using nuclear energy to extract oil from tar sands?
http://www.worldoil.com/Magazine/MAG..._YEAR=May-2005



Overview of Uranium Price, Supply, and Demand
http://www.uraniumminer.net/


Company confident NT uranium mining will go ahead
http://www.abc.net.au/news/newsitems...7/s1405390.htm

[stolwyk]

Radioactive waste

http://en.wikipedia.org/wiki/Radioac...ioactive_waste

[Seneca]

Quick Search | Advanced Search | Browse Archives Related News Alert Print Entire Page


Glowing outlook for uranium
Author: Matt Chambers
Date: 08/07/2005
Words: 757
Source: bloomberg
Publication: The Financial Review
Section: Companies


Uranium may trade between $US20 and $US30 a pound until 2008, a level that could encourage the development of new mines, according to Citigroup.

The metal has traded at $US29 a pound since May 11, the highest for 23 years and more than double the price in January 2004.

The price of the radioactive commodity has increased on expectations that reactors being built in China, India and Russia will drain stockpiles.

Mines produced only 55 per cent of uranium consumed in 2003, while inventories and "secondary supplies", such as those from disarmed nuclear weapons, have fallen, according to Citigroup analyst Alan Heap.

"With secondary supplies declining, mine economics will become the driving force of uranium prices," he said in a recent report.

Previously, "prices have been determined primarily by government controls that regulate the rate of release of secondary supply".

Mr Heap, Australia's fifth-ranked commodities analyst in a survey published in October by BRW magazine, has worked as an analyst at Citigroup, the world's biggest financial-services group, since 1992. Before that he worked as a metals trader and analyst in London.

The prediction of $US20 to $US30 a pound to 2008 is almost triple an earlier long-term forecast and reflects the increase in prices since January last year.

Mr Heap said long-term uranium prices were expected to be $US20 a pound from 2009, which should be enough to trigger new mines. The average cash cost to mine uranium is about $US10 a pound.

Still, any unexpected influx of highly enriched uranium from disarmed nuclear weapons and the possibility that stockpiles were greater than estimated might mean prices would fall below the forecast, Mr Heap said.

"The industry has been repeatedly misled into increasing supply in response to expected tightening," he said.

Citigroup said weapons-grade uranium had more than 90 per cent U-235, the uranium isotope capable of undergoing fission to produce energy. Mined uranium has just 0.7per cent.

Uranium rose $US5 a pound in the two weeks to May 11, its biggest fortnightly gain in nine years, according to prices from United Kingdom-based Metal Bulletin.

Prices rose as Uranium Participation Corp, an investment fund, started buying the nuclear fuel and US power producers tried to rebuild dwindling stockpiles.

Mr Heap's prediction is still less than that of JPMorgan Chase analyst Anindya Mohinta, who on June 2 raised a 2006 forecast to $US32.50 a pound from $US29.60.

Greg Barnes, an analyst at Canaccord Capital, Canada's biggest independent brokerage, said in a May 3 report that uranium prices might average $US30 a pound next year, from a previous forecast of $US27.

China plans to build 27 plants to boost nuclear energy output fourfold by 2020, and India aims to build up to 24 reactors, according to the World Nuclear Association.

Mr Heap said uranium demand was expected to grow at 1.7 per cent a year between 2005 and 2010.

"Inventories held by producers and processors are now expected to reach minimum levels by 2007," he said, adding that minimum working inventory was considered to be two-thirds of annual consumption.

The Massachusetts Institute of Technology said in September that commercial stockpiles of uranium dropped 50 per cent between 1985 and 2003 because mine output could not keep up with demand.

Mr Heap said planned projects such as Cameco Corp and Cogema's Cigar Lake in Canada, due to start production in 2007, would not be able to keep up with demand.

Should BHP Billiton increase the scale of a previously announced $4billion expansion at the Olympic Dam mine in Australia, which has the world's biggest uranium resource, the supply gap might be filled, he said.

Southern Cross Resources said in November that it would not

[stolwyk]

Overview of Uranium Price, Supply, and Demand
http://www.uraniumminer.net/


How Differences in Uranium Deposits Can Affect the Price
http://www.resourceinvestor.com/pebble.asp?relid=11543

Olympic Dam is mentioned.

[stolwyk]

Govt seizes control of NT uranium mines
August 4, 2005 - 1:49PM


http://www.smh.com.au/news/National/...?oneclick=true

The federal government has taken control over the future of the Northern Territory's rich uranium deposits, declaring the territory open for business on uranium.

The NT Labor government had promised to ban new uranium mines, despite fierce opposition from the federal government.

But the federal government sought legal advice, and said it had taken over responsibility for the development of new mines, following a meeting between the federal and NT resources minister in Darwin.

"This morning in our meeting with the NT resources minister it was made clear by the territory government that they were abdicating their part of decision-making on uranium mining," Federal Resources Minister Ian MacFarlane said.

"On that basis, and under the NT Mining Act and the NT Mining Management Act, the Commonwealth will assume responsibility for the approval of uranium mines.

"None of those approvals will be considered before they have the full support of the indigenous owners of the area where the mine is proposed."

Advertisement
AdvertisementMr Macfarlane said the federal government was taking control "for the good of the territory" and resources industry.

"We can't allow this confusion to continue," he said.

"This no-uranium policy is a nonsensical policy.

"The Northern Territory is open for business on uranium mining.

"We were reticent to go down this road, even as late as this morning I was asking the territory government to co-operate.

"But if they're not prepared to do that ... the commonwealth will act to accept that responsibility."

About a dozen companies were currently exploring for uranium in the resource-rich territory, which is home to some $12 billion worth of known uranium deposits, he said.

Energy Resources of Australia (ERA) is currently mining at Ranger, which is surrounded by Kakadu National Park.

French nuclear power company Cogema is currently lobbying traditional owners in a bid to mine its multi-million dollar, 14,000-tonne Koongarra deposit in Kakadu National Park.

Mr Macfarlane said he shared the NT government's unease about the Koongarra deposit, but would consider all applications.

[easy money]

SUMMIT wil be next..will top up i think

[IcedPaladin]

What are the twelve companies with mining licences in NT?
.

BHP
ARU
MTN
ERA
DYL
JRL
SIM

OTHERS?[/quote]

[Geoff7]

Add Cogema and Laramide, must be a few others...but I think you have covered the Aussie ones..

[Yme]

cmr,,,btv,,,

[stolwyk]

FEDERAL LABOR SUPPORTS URANIUM EXPORTS

see today's Courier Mail article below

YELLOCAKE PRICE NOW US$30.20 POUND

IN WA CHURCH INVESTMENT ARM ENDS BAN ON URANIUM AS PRESSURE GROWS ON STATE TO LET MINING GO AHEAD

Reported in the West Australian today

"A leading Australian ethical investment fund under Anglican Church control has axed its ban on investing in uranium miners as pressure mounts on the Gallop government to allow mining of WA's extensive uranium reserves"


WEST AUSTRALIAN EDITORIAL TODAY

Timid party bosses risk irrelevance on uranium

"Whether or not the WA leaders of the minor parties like it, the issue of uraniun mining will not go away.

Indeed there are stirrings on the back bances across party lines about the need for at least a comprehensive debate on the issue.

If the party leaders cointinue to ignore evidence of increasing support for uranium mining, they will simply render themselves irrelevant in the debate that must happen."


Labor backs export of uranium to China
Matthew Franklin, national political editor
24aug05

FEDERAL Labor has given strong backing for the export of uranium to China, saying Australia has a responsibility to help the booming Asian giant slash growth in greenhouse gas emissions.

Labor resources spokesman Martin Ferguson told the Committee for Economic Development of Australia yesterday that boosting uranium exports for power generation also would reduce the need for users to buy from suppliers with less strict controls over treatment of radioactive waste.


Mr Ferguson's comments, seen as an attempt to boost Labor's trade and economic credentials, are likely to increase tension in the party amid nervousness in some sections of the Left over the environmental and security implications of uranium exports to China.


However, views on the issue are not clear-cut.

Mr Ferguson is from the party's Left faction and other party figures oppose uranium exports – including Premier Peter Beattie (a Right winger) because they could affect Queensland coal exports. The Howard Government earlier this month took control of uranium deposits in the Northern Territory and began negotiating with China for an agreement to ensure any exports would not be used for weapons. Completion of the agreement would clear the way for job creation through the development of Australia's vast undeveloped deposits.

Speaking in Sydney, Mr Ferguson told the CEDA that massive industrial development in China and India would fuel major growth in greenhouse gas emissions. While Australia was fortunate to have abundant supplies of clean coal and gas to meet its own energy needs, 70 per cent of China's present energy production came from brown coal, one of the dirtiest fossil fuels.


"We must clean up coal and the Chinese must have the ability to use other cleaner energy sources as part of their energy mix," Mr Ferguson said. "It is an important debate for Australia in the context of responsible citizenship in the global community.


"Australia cannot withdraw from the international community in terms of the debate about uranium mining, nuclear power and its corollaries – nuclear non-proliferation and the safe and peaceful handling of nuclear waste materials."


He said other countries would meet the uranium demand if Australia did not.


Australia could at least guarantee strict chain-of-custody procedures to ensure its use – and the treatment of waste – was properly monitored, he said.


Mr Ferguson also backed the recently established Asia-Pacific Partnership – comprising Australia, the US, Japan, China, India and South Korea – which he said would encourage the development and adoption of new environmentally friendly technologies and clean energy sources.


Courier Mail Brisbane 24 August 2005



Alan J Eggers

Summit Resources Limited

PERTH 24 August 2005




Voluntary Disclosure: No Position Sentiment: None TOU violation