Russia’s worst floods in decades sparked fears that radioactive and chemical pollution from Soviet-era uranium mines in the Kurgan region could seep into the Tobol River in western Siberia. As reported by the investigative news outlet Agentstvo, the Dobrovolnoye uranium deposit is located within the flood zone in Kurgan’s Zverinogolovsky district. Its mines are operated by an enterprise owned by state nuclear energy agency Rosatom. The hundreds or even thousands of mine wells drilled into the deposit have compromised the natural protective barrier surrounding the uranium ore, Alexei Shvarts, t ..read more

US-based uranium and rare earths producer Energy Fuels (NYSE: UUUU) (TSE: EFR) has agreed to acquire 100% of the issued shares in Base Resources (ASX, AIM: BSE) in a deal valued at A$375 million (approximately $240 million). The news sent the Australian junior’s shares skyrocketing 123%, while market reaction was more muted on the Toronto stock exchange; Energy Fuels stock was down 10% by market close Monday. Base Resources shareholders will receive 0.026 of an Energy Fuels common share plus a dividend of A$0.065 for each share held, for total consideration of roughly A$0.302 per share. This r ..read more

GoviEx Uranium (TSXV: GXU) says it’s discussing with Niger’s military leaders how to avoid losing its Madaouela project licence if it fails to start the mine by July 3. GoviEx stock dropped almost a quarter in Toronto on Friday to C$0.095 apiece, its lowest in four years, valuing the company at C$82.9 million. The shares have traded as high as C$0.22 in the past 52 weeks. The government, which came to power in a coup last July, rules the continent’s biggest uranium producer after Namibia and has a 20% stake in Madaouela. There’s a risk the junta could revoke GoviEx’s mining permit, the company ..read more

Australian mining group Berkeley Energia will take its dispute with Spain to international arbitration after the country refused to give final approval to a uranium mine near the city of Salamanca, the company said on Wednesday. The Retortillo project, Berkeley’s main asset, received preliminary approval in 2013 but has since run into hurdles, including opposition from nearby communities and safety concerns from regulatory authorities. Berkeley had estimated investment in excess of 250 million euros ($269 million) and more than 2,500 jobs in the region. Spain’s Energy Ministry refused to appro ..read more

At the end of the first quarter 2024, the MINING.COM TOP 50* ranking of the world’s most valuable miners had a combined market capitalization of a shade under $1.4 trillion, down $13 billion since the start of the year.  The historic gold run and copper’s comeback, up 14% and 12% so far in 2024, only kicked into a higher gear after the end of the March quarter, but copper and gold counters nevertheless dominate the best performer list for Q1.   The lacklustre combined performance of the sector’s majors came despite the revival in the bellwether metals, but the broader market ha ..read more

Uranium stocks are having their best run in months on a combination of flooding in Kazakhstan, the world’s largest producer of the nuclear fuel, and a burst of bullish coverage from banks including Goldman Sachs Group Inc. The sector has been a bright spot for energy investors, with uranium spot prices jumping some 40% over the last year as the world’s largest miner, Kazatomprom, has struggled to lift production and as the US considers a ban on Russian supplies. The supply concerns have cropped up as countries around the world are turning back to nuclear power as a way to cut emissions. But th ..read more

A group of rural villagers from Madagascar has launched a legal claim against Rio Tinto over allegations that pollution from a nearby mine has caused them to ingest dangerous levels of uranium and lead. In a letter of claim, a document that is an early step in a lawsuit, the 64 residents of the Anosy region in southern Madagascar say that the QIT Minerals Madagascar (QMM) mine in Fort Dauphin, which is 80% owned by Rio Tinto, has contaminated surrounding lakes and waterways with the toxic metals. According to the group, up to 15,000 people in the area rely on these water sources for their drin ..read more

Boss Energy (ASX: BOE) is just two weeks away of producing its first drums of uranium amid a restarting of activities at its Honeymoon uranium mine in New South Wales, Australia, where production was halted in 2013 due to low prices for the radioactive material. Having reached the final technical milestone this week, Boss Energy is now focused on filling its first drum of uranium as it continues to ramp up production to achieve full capacity, it said. Uranium firms revive forgotten mines as price of nuclear fuel soars “Since acquiring Honeymoon, Boss’ strategy has been to increase the uraniu ..read more

Rio Tinto (ASX, LON, NYSE: RIO) will carry out the rehabilitation of the closed Ranger uranium mine in Australia’s Northern Territory amid major delays and spiralling costs weighing on the project. The company’s majority owned uranium producer Energy Resources of Australia (ASX: ERA) halted activities at Ranger in 2021, after 40 years of operation. The initial goal was to finish the clean-up and restoration of the site by 2026, with an estimated cost of around A$800 million ($520m at today’s rates). Following several delays and cost overruns, ERA warned investors in September that total expens ..read more

Australia’s Paladin Energy (ASX: PDN) said on Tuesday it has begun producing and drumming uranium concentrate at its Langer Heinrich mine in Namibia, adding it would now focus on ramping up operations and building a finished product inventory. The Western Australia-based miner said first uranium concentrate production and subsequent packing into the metal drums the material is shipped to customers was achieved on March 30. As part of the transition to production, the company’s chief operating officer, Paul Hemburrow, will take on responsibility for all activities at its 75%-owned min ..read more