• 5 minutes Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 11 minutes IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 14 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 6 mins Alberta govt to construct another WCS processing refinery
  • 10 hours Let's Just Block the Sun, Shall We?
  • 23 hours U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 24 hours Waste-to-Energy Chugging Along
  • 1 day What will the future hold for nations dependent on high oil prices.
  • 5 hours What Can Bring Oil Down to $20?
  • 1 day Venezuela continues to sink in misery
  • 2 days UK Power and loss of power stations
  • 1 day Contradictory: Euro Zone Takes Step To Deeper Integration, Key Issues Unresolved
  • 23 hours Regular Gas dropped to $2.21 per gallon today
  • 2 days No, The U.S. Is Not A Net Exporter Of Crude Oil
  • 2 days EPA To Roll Back Carbon Rule On New Coal Plants
  • 17 hours Sleeping Hydrocarbon Giant
  • 19 hours Sane Take on the Russia-Ukraine Case
Alt Text

Aramco’s “Acquisition Hit List”

As Saudi Arabia prepares for…

Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

A Brief and Unexpected Uranium Comment

Short, but potentially very important tidbit in uranium last week.

Local press noted comments from the world's top uranium producer, Kazakhstan's Kazatomprom. Suggesting that the company is eying an unexpected path for growth.

Going to Africa.

The company's project manager and advisor to the chairman Azat Betekbayev told a conference in Durban, South Africa that Kazatomprom will enter the African market. Few details were given of the exact plans.

If such a move comes to pass, it would be an unusual direction for the uranium major. Representing one of its first forays outside of Kazakhstan.

The tack is all the more unexpected given the destination. With Africa recently having fallen out of favour as a uranium exploration and development locale.

Some activity has been taking place for the yellowcake sector in places like Tanzania. But at the same time, developments in producing nations like Namibia and Malawi have painted a bleak picture of the industry here. With mines shutting down, and owners looking at strategic options for selling or mothballing operations.

One potential standout on the continent is Niger. Where a number of relatively high-grade deposits have been identified. And a decent production history has been established by operators like Areva--putting the country in the top five amongst uranium-producing nations globally.

Of course, Kazatomprom hasn't indicated where in Africa they might be investigating. But whatever the target, it will be off the beaten path in the industry--where focus has recently shifted to proven and politically-stable districts like Canada and Australia.

The expansionary move could be driven by Kazatomprom's difficulties on its home turf. With the company having recently announced it won't pursue any new development projects in Kazakhstan. Due to poor economics spurred by low uranium prices.

It's of course unlikely the company will find better development economics anywhere in Africa. But perhaps this is a "look to the future" play. Implying the major sees brighter prospects ahead for the industry--and is moving to position itself accordingly.

Here's to stepping out,

By Dave Forest




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News