• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 7 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 11 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 4 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 5 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 10 hours NordStream2
  • 4 days Modest drop in oil price: SPRs vs US crude inventory build
  • 4 days 2019 - Attack on Saudi Oil Facilities.
  • 4 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 33 mins "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
  • 6 days Ukrainian Maidan after 8 years
  • 6 days Peak oil - demand vs production
Editorial Dept

Editorial Dept

More Info

A Chance To Find The World’s Best Uranium Deposit… Again

There’s something very special about Australia’s Olympic Dam uranium mine.
Olympic Dam is the largest uranium ore body in the world, with a towing 57-year reserve life.

Production here is also world-leading. Owner BHP Billiton (ASX: BHP) mined and processed nearly 8.6 million pounds of uranium oxide from the mine in fiscal 2012.

To put that figure in perspective, consider the output from some of Australia’s other significant uranium mines. The famous Rum Jungle operation produced about 7.8 million pounds of uranium oxide over 17 years. Considerably less than Olympic Dam puts out in 12 months.

The incredible thing is that Olympic Dam’s big production numbers come at very low ore grades. In fact, the mine is one of the lowest-grade yellowcake producers on the planet—at only 0.054% U3O8.

By comparison, the world’s largest uranium mining company Cameco (TSX: CCO) holds reserves at its McArthur River and Cigar Lake deposits in Canada that grade over 20% U3O8. That’s more than 350 times richer than Olympic Dam. Even Cameco’s most low-grade project—Inkai in Kazakhstan—is nearly 50% higher in grade than Olympic Dam, at 0.08% U308.

But here’s the amazing secret of Olympic Dam—despite being one of the lowest-grade mines in production globally, it is one of the lowest-cost uranium producers found anywhere. Just look at the cost curve below for the worldwide uranium industry.

Producing…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News