Uranium Market Movement Slow, But Strong
AREVA's (EPA:AREVA) majority owned SOMAÏR uranium mine in Northern Niger recently set a new annual production record for the second year in a row, producing a total of 2,700 tonnes of uranium. The company attributes the record production to heap-leaching technology, which allows for the processing of low-content ore. "This new performance, which contributes to the growth of our mining activities and secures the uranium supply, rewards the work accomplished by the SOMAÏR's team and the employees of the mining BG," stated Olivier Wantz, senior executive vice president of the company's mining business group, in the press release.
Cameco (TSX:CCO,NYSE:CCJ) finalized its buyout of BHP Billiton's (NYSE:BHP,ASX:BHP,LSE:BLT) Yeelirrie property — Australia's largest undeveloped uranium deposit — for US$430 million. The deposit is near the surface and reportedly can be reached via open-pit mining methods.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.Uranium Market Movement Slow, but Strong from Uranium Investing News
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