Mining Weekly reported that Uranium One, which is currently in the process of being privatized by its largest shareholder, ARMZ, reported a fourth quarter net loss of $68.8 million after writing down its Mantra Resources investment.
This week, the uranium spot price fell 50 cents, to $43 per pound U3O8; however, the market is anticipating higher prices down the road.
An extremely destructive storm in Kazakhstan led to a temporary suspension of uranium mining in the Sozak region.
The ARMZ-Uranium One deal is yet another positive signal that industry heavies know the uranium market is at a bottom and the time is ripe for picking up assets.
Uranium market news is slow heading into the holidays, but signs that the world is moving toward increased use of nuclear power are evident.
Bloomberg reported Kazakhstan is prepared to enrich its uranium in the Russian town of Novouralsk at a processing facility there.
In our recent podcast, Uranium Investing News discussed the uranium market with NuCore Energy's CEO and President Jim Cornell.
Reuters reported Khan Resources Inc (TSX:KRI) has filed an appeal in an Ontario Court to challenge an earlier decision upholding Atomredmetzoloto appeal blocking Khan's original lawsuit.
Bloomberg reported a Russian millionaire has bid on a uranium mine in South Africa.
Bloomberg reported Russia's diplomat is arguing the US and other countries should provide incentive to Iran for bringing an end to its nuclear program.
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