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« Denison Mines Corporation: Heading towards the buy zone! | Main | Fast-track approval for the United Kingdom nuclear plants »
Wednesday
Jul162008

Russia climbing the uranium producers table!

President Putin 17 July 2008


Russia has recently climbed up the table of uranium producers and slipped into fourth place behind Canada, Australia and Kazakhstan having produced 3,527 tons of uranium in 2007.

We have to hand it to the Russians for taking an aggressive proactive stance in developing opportunities both within and outside of their own geographical borders
.

They have some interesting deposits in Eastern Siberia, but it is the relationships that they have established with other countries that are propelling them up this league.

In Kazakhstan they now own a 49% stake of a 19,000-ton uranium deposit. In Australia they have a bilateral agreement whereby Australia will supply $1 million worth of uranium every year for civilian purposes. Throw in an agreement with Cameco undertaking uranium prospecting and extraction in both countries and possibilities with Armenia and they have some impressive opportunities.

This is a quote from an article by Tatyana Sinitsyna carried on Energy Daily:

“Experts believe Russia's total uranium potential (natural and weapons-grade) will enable it to enrich 45 percent of the world's uranium for nuclear power plants by the year 2030.”

It also goes on to remind us that:

“One cubic centimeter of uranium is equivalent to 60,000 liters of gasoline, 110 to 160 tons of coal, or almost 60,000 cubic meters of natural gas”

Have a good one.

If you are new to investment in the precious metals sector then you may wish to subscribe of our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, just click on the links.

Footnote: The spot price of uranium has moved up to $60/lb.

Uranium Chart 17 July 2008

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Reader Comments (4)

Why, when I click on a link in an email, do I get an article over one year ago?

July 17, 2008 | Unregistered CommenterBrewster

Brewster,

Some time ago our readers asked us to group together articles about a particular company so that they didn’t have to search the whole site to see what we had written in the past about that company.

So we came up with the idea of relating articles by the company name, which works well for Cameco as the system then groups together those articles about Cameco.

However for articles of a more general nature the system does not work so well. Hopefully we can improve on it in future.

Best wishes,

Bob

July 17, 2008 | Unregistered CommenterUranium Stocks

Many of your articles and reviews are way out of days. They are worse than useless. Why don't you feature just recent material????

October 3, 2008 | Unregistered Commenterm stolarik

M Stolarik, This article was posted on the 17 July when it was topical.

October 3, 2008 | Unregistered CommenterUranium Stocks

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