• 3 hours Keystone Pipeline Restart Still Unknown
  • 7 hours UK Offers North Sea Oil Producers Tax Relief To Boost Investment
  • 9 hours Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell
  • 11 hours Trader Trafigura Raises Share Of Oil Purchases From State Firms
  • 13 hours German Energy Group Uniper Rejects $9B Finnish Takeover Bid
  • 14 hours Total Could Lose Big If It Pulls Out Of South Pars Deal
  • 16 hours Dakota Watchdog Warns It Could Revoke Keystone XL Approval
  • 1 day Oil Prices Rise After API Reports Major Crude Draw
  • 1 day Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 1 day Gazprom Speaks Out Against OPEC Production Cut Extension
  • 1 day Statoil Looks To Lighter Oil To Boost Profitability
  • 2 days Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 2 days Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 2 days Whitefish Energy Suspends Work In Puerto Rico
  • 2 days U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 2 days Thanksgiving Gas Prices At 3-Year High
  • 2 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 2 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 3 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 3 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 3 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 3 days ConocoPhillips Sets Price Ceiling For New Projects
  • 5 days Shell Oil Trading Head Steps Down After 29 Years
  • 5 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 5 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 5 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 6 days Venezuela Officially In Default
  • 6 days Iran Prepares To Export LNG To Boost Trade Relations
  • 6 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 6 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 6 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 6 days Rosneft Announces Completion Of World’s Longest Well
  • 6 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 7 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 7 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 7 days Santos Admits It Rejected $7.2B Takeover Bid
  • 7 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 7 days Africa’s Richest Woman Fired From Sonangol
  • 7 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 7 days Russian Hackers Target British Energy Industry

Breaking News:

Keystone Pipeline Restart Still Unknown

Are These New Rules A Lift For Uranium?

Are These New Rules A Lift For Uranium?

We've seen a number of countries pushing to re-do their exploration rules lately. And last week news emerged of changes afoot in one more spot--which may have some big implications for at least one commodity.

The place is the West African nation of Gabon. Where the government is reportedly aiming to having a new exploration regime in place by the end of the year.

Officials from Gabon's state mining company Société Équatoriale des Mines told Mining Weekly last week that the rule change is designed to attract new investors to the local sector. By making it easier to explore for new deposits, and develop them after they've been delineated.

During the initial stages of such work, the new mining code will reportedly simplify procedures for licensing of exploration ground. The government will also create an office to organize and make available maps of licenses and possibly other exploration data--at one central location.

Officials also promised an "investor-friendly" tax regime for all of this work.

The changes certainly sound encouraging. Leading to the question: what metals might incoming investors look for?

The nation's only substantial mineral production is currently in manganese. Deposits of iron ore and possibly rare earth elements are also known.

But there's one commodity where Gabon could prove to be one of the most prospective places on Earth: uranium.

Gabon has long been noted as one of the few places with potential for basin-hosted uranium. The same type of geologic setting that's created high-grade mineralization in leading production centers like Canada and Australia.

In fact, Gabon is the only place on Earth where self-sustaining natural fission reactions have been observed in local uranium-bearing rocks. Suggesting that enrichment of the metal here may be particularly strong.

Exploration since colonial times has been minimal. So there's likely still lots here to be discovered. And the new rules should help in bringing some of that potential to light.

Here's to opening up,

By Dave Forest




Back to homepage


Leave a comment

Leave a comment




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