URANIUM DEMAND
Nuclear energy players need to take 90% uranium price spike bill or shut plants
The price of uranium has increased by 90% in 12 months, surpassing its cost in 16 years. Shutting down a nuclear power plant is costly and time-consuming, with daily costs reaching $1 million. However, the demand for uranium is rising due to the need for low-carbon power sources. Countries like France and the UK are reconsidering nuclear energy and expanding capacity. The global uranium supply is facing a deficit, with a shortage of enriched uranium as well. Hedge funds, ETFs, governments, and utilities are all vying for uranium, leading to price increases in the market.
Saudi Arabia says it plans tougher IAEA checks on its nuclear activities
"The kingdom has recently taken the decision to rescind its Small Quantities Protocol and to move to the implementation of a full-scope Comprehensive Safeguards Agreement," Saudi Energy Minister Prince Abdulaziz bin Salman told the IAEA's annual General Conference, speaking through an interpreter.
West clashes with Russia and Iran at UN over Tehran's uranium enrichment and drones for Russia
The United States and its Western allies have attacked Iran and Russia at the UN Security Council over Tehran's advancing uranium enrichment and its reported supply of combat drones to Moscow, which are being used to attack Ukraine. Ukraine claimed that over 1,000 drone launches had taken place and analysis confirmed their Iranian origin.
Ukraine demands emergency UN meeting over Putin nuclear plan
But Moscow said it was making the move in response to the West's increasing military support for Ukraine. Putin announced the plan in a television interview that aired on Saturday, saying it was triggered by a U.K. decision this past week to provide Ukraine with armor-piercing rounds containing depleted uranium.
America's new nuclear power industry has a Russian problem
The U.S. government is in the final stages of evaluating how much of its inventory of 585.6 tonnes of highly enriched uranium to allocate to reactors, the spokesperson said. The fact that Russia has a monopoly on HALEU has long been a concern for Washington but the war in Ukraine has changed the game, as neither the government nor the companies developing the new advanced reactors want to rely on Moscow.
Iran has dropped some demands for nuclear deal: U.S. official
The United States aims to respond soon to a draft agreement proposed by the European Union that would bring back the 2015 nuclear deal with Iran that former President Donald Trump abandoned and current President Joe Biden has sought to revive.
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Oil prices climb $2 on strong demand, tight supply
"We expect oil demand to improve further, benefiting from the reopening of China, summer travel in the northern hemisphere and the weather getting warmer in the Middle East. With supply growth lagging demand growth over the coming months, we continue to expect higher oil prices,"
Brave New World: What sparked a rally in uranium; hedge your portfolio with farmland
New government-directed spending is driving up the demand for materials needed to build a cleaner economy. At the same time, tightening regulation is limiting supply by discouraging investment in mines, smelters, etc.
Draft bill hardening Iran's nuclear stance clears first hurdle in parliament
The legislation was proposed in the wake of the assassination of a top nuclear scientist on Friday, and the hardline-dominated parliament cleared the draft on the first reading in a session broadcast live on state radio.
Safe-haven currencies in demand amid US, Iran tension
The Japanese yen surged on Monday to a three-month high of 107.77 versus the US dollar.
Rosatom expresses interest in teaming up with India to produce small and medium sized reactors
“Rosatom is developing small and medium-sized solutions based on light water reactor unit of Russian design. In Russia, we have commissioned and will be operationalizing the first Floating Nuclear power plant this year,” Mazein said, addressing the conclave.
World’s worst commodity was radioactive for investor portfolios
Prices tumbled 41 per cent last year, touching a 12-year low below $18 a pound in November, according to Ux Consulting Co., which compiles market data.
India can immediately begin uranium import: Julie Bishop, Australian Foreign Minister
The statement came two weeks after Prime Minister Narendra Modi and his Australian counterpart Malcolm Turnbul announced the completion of procedure.
India to get first lot of Canadian uranium next month
The deal, worth CAD 350 million with Canada's largest uranium producing company Cameco Corp, will ensure 3,220 metric tonnes of uranium over the next five years.
Australian companies can now export uranium commercially to India
Australian High Commissioner, Patrick Suckling, welcomed news that the Australia-India Nuclear Cooperation Agreement had entered into force.
Australia could be reliable supplier of uranium: Anil Kakodkar, ex-chairman, Atomic Energy Commission of India
Kakodkar said importing uranium from Australia, Canada, Kazakhstan, Russia would accelerate electricity production from nuclear reactors even as India's three-stage programme is going on.
India to build a 'strategic uranium reserve'
"The reserve pool could be anywhere between 5000 MT to 15,000 MT which can last for 5-10 years," said a senior government official.
Uranium is a cleaner fuel, but not freely traded
Nuclear power constitutes nearly half of the electricity generated in Slovakia, Hungary and Ukraine.
US civil nuclear deal is in India's 'best interests': Anil Kakodkar
The former AEC chairman said, "Solar and nuclear energy are two better options to meet the country's growing energy demand for the next 50 years. We have to focus on their appropriate development and use."
Uranium mines closure causes nuclear fuel loss of over 19 tonnes: DAE
The uranium ore extraction from Jaduguda and Bhatin mines, operated by the Uranium Corporation of India (UCIL), a PSU under DAE.
Decline in India's Uranium production
Apart from exporting uranium from Kazakhstan and Russia, India is in the process of getting the ore from Australia, with which it inked a pact for the same.
Red Sandalwood smuggling to China via Bhutan is in upswing
India’s Neighbouring country Bhutan is coming up fast as a preferred conduit for illegal sandalwood smuggling from India to China. With source in south Indian forest lands, final usage of these precious timber in China is not always as healthy as it is generally believed.
Indian exporters want to engage more with Iran post easing of western sanctions: EEPC India
In this backdrop, even a demand was made to the External Affairs Ministry to take up with the Iranian authority to give Indian exporters a stapled visas, which was, however, not acceded.
India looking to import uranium from Uzbekistan
India is in talks with Uzbekistan for procuring uranium for growing requirement of fuel for its nuclear plants, expected to increase in number.
Australia, India uranium agreement will take time: Former Australian diplomat
Rakesh Ahuja, however, warned that the yellow cake sale would also free up India's domestic reserves for military purposes.
India inks nuclear commerce pact with Canada
The agreement was signed between the Canadian Nuclear Safety Commission and India's Department of Atomic Energy.
IAEA hosts training event on Uranium exploration
Chairman-cum-MD of UCIL Diwakar Acharya said environment-friendly mining activities for fuel and metal will have to be introduced in the country in view of the increasing demand.
Australia's uranium supply to India will be demand based: Energy Minister Martin Ferguson
Australia's uranium supply to India will be demand based once the approvals for the yellow cake exports to New Delhi are finalised.
Uranium takeovers prove lucrative as demand rises
Uranium takeovers are offering investors the biggest potential payoffs, less than a year after the partial meltdown of Japan's Fukushima nuclear plant.
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