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Uranium Mining Issues: 2012 Review

(last updated 27 Feb 2013)

Contents:

> See also 2012 News Archive


 

Uranium price

The uranium price remained weak in the aftermath of the Fukushima disaster.

During the first half of the year 2012, UxC's weekly spot price stayed around the US$ 51.75 per lb U3O8 it had reached at year-end 2011, but, during the second half of the year, it declined to a low of US$ 40.75 on November 5, only slightly recovering to US$ 43.50 at year end.

The monthly industry average price for long-term contracts, as published by Cameco, declined from US$ 62.00 per lb U3O8 at year end 2011 to US$ 56.50 at year end 2012.

So, other than expected by many market observers, the uranium price remained below the lower bound required for the profitability of many of the mine projects currently under consideration or under development, leading to a deep uncertainty among companies and investors.

The continuing weakness of the uranium market also led a number of exploration companies to delete the word "uranium" from their name - in contrast to the situation during the sharp price rise in 2007, when many companies hurried to include that word in their name. There was, however, one startling exception: on December 18, Fischer-Watt Gold Company announced a name change to "Cyclone Uranium Corporation" - a gross misjudgement of the market situation, or a forerunner for an imminent cyclone-force recovery of the uranium market? The announcement came after the Japanese government had postponed a decision on the phase-out from nuclear energy in September.

 


Uranium exploration projects

Moratoria/Bans (establishing/extending/keeping):

 

Moratoria/Bans (lifting/weakening):

 

Exploration issues:

 

Positive preliminary economic assessments:

Positive preliminary economic assessments, preliminary feasibility studies, or scoping studies were announced for the following uranium mine projects - however, often assuming uranium selling prices far beyond current market prices:

 


Uranium mine development projects

License applications for new uranium mines were actually filed for the following projects:

Uranium mining/milling licenses were issued for:

Several uranium mine development projects were temporarily suspended due to the unfavourable market situation (...and other issues):

Projects currently under development, or being prepared for development:

In Canada:

In the USA:

In Central/South America:

In Africa:

In Europe:

In Asia:

In Australia:

 


Supplies projects for the uranium industry

 


Alternate uranium recovery projects

By-product recovery of uranium from mining primarily for other ores:

The recovery of residual uranium from wastes and tailings:

 


Issues at operating uranium mines and mills

Planned expansion of existing uranium mines and mills, with licensing processes at various stages:

 

Environmental issues at operating uranium mines and mills:

 

Miners' health issues at operating uranium mines and mills:

 

Other issues at operating uranium mines and mills:

 


Abandoned mines issues

 


Decommissioning issues

In Canada:

In the USA:

In Central/South America:

In Europe:

In Australia:

 


Health impacts from former uranium mines and mills

 


Legal and regulatory issues

In Canada:

In the USA:

In Africa:

In Asia:

In Australia:

 


Uranium trade and foreign investment issues

Uranium trade

 

Foreign exploration and mining investment and cooperation

 


Social relations of uranium mining companies

 


> See also:

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