It's an exciting time in the uranium industry for Africa, as countries that have not yet supplied the mineral in the past are beginning to explore and develop mines.
Articles Tagged "Africa"
Bloomberg reported that droughts in southwest Africa's Namibia has uranium mines operating the area facing water shortages. Some of the operators include Rio Tinto and Paladin Energy.
Forte Energy NL (ASX:FTE,AIM: FTE) announced that they have entered into an agreement to acquire private company Leo Mining and Exploration Limited.
Reuters reported that Iran’s president Mahmoud Ahmadinejad visited uranium-producing Niger on Monday as part of its aim to deepen its ties with Africa.
Major companies like AREVA and Cameco understand how important it is to mitigate risks such as fighting in Mali and Nigerian resource nationalism by geographically diversifying their assets.
Bloomberg reported that Areva SA’s sales for the fourth quarter declined 4.2% compared to the year before to 2.8B euros.
Bloomberg reported Paladin Energy Ltd. (ASX:PDN) plans to make up to three deals in the next few months selling off minority stakes in some projects.
Labor disputes related to uranium mining operations in Africa have gained prominence recently, with several companies reporting strikes. The impact could be considerable if continued challenges become more widespread.
Reuters reported Paladin Energy Ltd (TSX:PDN,ASX:PDN) said employees at its Kayelekera mine in Malawi went on strike on Friday demanding higher pay.
Globe and Mail reported IMF Chief, Christine Lagarde said many countries in sub-Saharan African are less prepared to deal with an economic shock now.