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Uranium Mining Companies Flex with the Times

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Uranium Mining Companies Find Creative Options

Uranium Mining Companies

Uranium mining companies need to be creative these days. Fueled by fear in the wake of the Fukushima disaster, uranium powered nuclear plants are not currently viewed as a popular energy choice and the uranium that fuels them has lost value.  Couple lower prices with political concerns of sovereign risk and uranium mining companies are looking at creative mining solutions. 

The Rio Tinto PLC (RIO) Rossing mine in Nambia is the third largest producer of uranium world-wide.  Under current conditions they are considering working in tandem with adjoining Extract Resources Ltd. (EXT.AU) Husab Project to process the fourth largest known uranium deposit is located. The Rossing processing facilities are in place and the Husab site has uranium ready to be tapped so the pairing up of these two uranium mining companies looks like a plausible option. 

Rio Tinto’s positive outlook continues as their Ranger mine in Australia is set to resume operations later this month after safety concerns in the wake of natural disasters closed the mine in January.

 Uranium mining companies provide an essential commodity

But uranium is a necessary commodity in today’s world.  Power plants, weaponry and nuclear medicine cannot function without uranium.  Recent scares aside, nuclear energy fueled by uranium is not going away overnight.  Uranium is still very much in demand today and several uranium mining companies are on track to increase production.

Cameco (CCJ) operates one of the largest –producing underground uranium mines at the MacArthur River site in northern Saskatchewan.  One of the leading uranium mining companies in the world, Cameco operates several other underground and open pit sites in Canada as well as low cost recovery in situ leaching locations stateside in Wyoming and Nebraska.  Cameco also is involved in the Inkai mine in Kazakhstan.  They have a solid record of mining the uranium deposits and in following the environmental and regulatory requirements for mining companies and are projecting doubling their annual production by 2018.

Atomredmetzoloto (ARMZ), the Russian state uranium company that owns 51% of Uranium One (UUU.TO), bought Manta Resources with its Mkuju River site earlier in the year.  They are looking to expand operations but will not announce plans until their feasibility study is completed next year.  They also have operations in the US, Kazakhstan, and Australia.

Uranium continues to be a required commodity even in the aftermath of events such as Fukushima .  Uranium mining companies are exhibiting flexibility and creativeness as they look toward the future.

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