Energy From Thorium Discussion Forum

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PostPosted: Aug 06, 2018 10:36 am 
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Nuclear wasteland: The explosive boom and long, painful bust of American uranium mining

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At the height of activity in 1980, U.S. companies produced nearly 44 million pounds of uranium concentrate and provided most of the supplies purchased by nuclear power plants. Last year, American miners produced 2.4 million pounds and supplied just 7 percent of the uranium bought by domestic plants.


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PostPosted: Aug 06, 2018 6:24 pm 
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The US has so much of used fuel that by processing it, it can meet the entire fissile requirement. If processed under doe supervision, the thorium plutonium MOX could meet the entire fuel requirement and produce U233 for a thorium cycle. The national labs should be given the task.


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PostPosted: Sep 24, 2018 3:04 pm 
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Quotas Aren’t the Way to Solve America’s Real Uranium Problem

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There are reasons to be concerned about the U.S. uranium supply. Last year the U.S. produced just 1.15 million pounds of uranium ore, down from a little over 4 million pounds in 2009. Nuclear fuel consumption by civilian reactors alone is the equivalent of about 44 million pounds. But the proposed remedy--25% of uranium would have to come from domestic mines, ignores market realities and addresses the wrong problem.

The idea behind a quota is to effectively guarantee a market for U.S. production. But the investment would be so big that the price of uranium would have soar to make the numbers work. John Cash, Ur-Energy’s Vice President of Regulatory Affairs, says that the price of uranium would have to rise to “north of $50 a pound” to spur that sort of investment. The spot price today is $26.50 according to Ux Consulting.


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PostPosted: Oct 08, 2018 12:14 pm 
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Rio Tinto in talks to sell Namibian uranium business

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Rio Tinto is in talks to sell its controlling stake in the Rossing uranium mine in Namibia to the state owned China National Nuclear Corporation. The talks were confirmed by Namibia’s energy minister Simeon Negumbo on Thursday in comments to local media. The Anglo-Australian mining group owns almost 69 per cent of the mine, with the rest controlled by the Iranian Foreign Investment Company (15 per cent), the Industrial Corporation of South African (10 per cent), the government of Namibia (3 per cent) and local interests (3 per cent). Traders said CNNC was a logical buyer of the Rossing mine, which produces around 3 per cent of the world’s uranium. Not only does it own the neighbouring Husab but it is also better equipped to deal with Rossing’s Iranian shareholding than a western miner. However, there is no guarantee a deal will be reached. A sale would require the backing of the Namibian government, which controls 51 per cent of Rossing’s voting rights. Rio has been streamlining its portfolio to focus on its core iron ore, aluminium, and copper assets. It has sold a string of mines in recent years, including its Australian coal business.

“This comes as little surprise since it is a minor, non-core asset while Rio’s chief financial officer has previously expressed a less than enthusiastic outlook for the uranium sector,” said Hunter Hillcoat, analyst at Investec Securities. “Rio last reported the carrying value of its Uranium division — including 68.4 per cent of Energy Resources of Australia and 68.6 per cent of Rössing Uranium — at negative $271m.”

Uranium, which is used in nuclear reactors, has been one of the best performing commodities of 2018. It has risen 35 per cent from its April lows, helped by a string of mine closures and the launch of a new fund that bought a large amount of uranium from a leading supplier and placed it in storage.


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