• 5 minutes Iran Says It Arrested 17 CIA Spies, Some Sentenced To Death
  • 9 minutes Will We Ever See 100$+ OIL?
  • 13 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 19 hours Iran Loses $130,000,000 Oil Revenue Every Day They Continue Their Games . . . .Opportunity Lost . . . Will Never Get It Back. . . . . LOL .
  • 12 mins Platts says if Iran's 2 mm bbls exports comes back on market oil goes to $40 . . . What about new Permian pipelines 2.47 mm bbls coming ? . . . WHAT IF BOTH IRAN AND PERMIAN TOTAL 4.47 mm added bbls . . . OMG !
  • 11 hours Renewables provided only about 4% of total global energy needs in 2018
  • 4 hours Today President Trump Questioned U.S. Policing the Straits of Hormuz for Rich Asian Countries. Allies Britain and Japan were asked to participate. Said NO. US spends $100 Billion/year Protecting Mideast Shipping Lanes!
  • 44 mins Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports
  • 8 hours So You Think We’re Reducing Fossil Fuel? — Think Again
  • 3 hours N.Y. Governor Signs Climate Bill
  • 11 mins U.S. Administration Moves To End Asylum Protections For Central Americans
  • 7 hours Oil Giant Saudi Arabia Is Set to Start First Wind-Power Plant
  • 1 day Berkeley becomes first U.S. city to ban natural gas in new homes
  • 8 hours EIA Reports Are Fraudulent : EIA Is Conspiring With Trump To Keep Oil Prices Low
  • 1 day How is E&P of Marginal Oil on the UKCS Similar to the Shale Oil Operations in the US?
  • 1 day Shale Oil will it self destruct?
Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

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

Premium Content

Huge Uranium Deposits May Soon Be Fair Game In Argentina

The most intriguing news on the world stage this week came from uranium. Where a longtime no-go mining nation looks to be on the verge of signing a major deal to restart production.

That’s Argentina. A country with substantial uranium deposits, which have been under a mining moratorium since 1997.

But that could soon change, according to reports from Bloomberg at a nuclear summit being held in Argentina. With the news service citing familiar persons as saying that one of the biggest owners of uranium projects in the country has signed up a deal for development financing and technology.

The company is UrAmerica. A privately-held uranium developer that has consolidated 61 licenses covering 255,000 hectares of mineral projects in Argentina’s Chubut Province. Related: OPEC’s No.2 Producer Rudderless As Oil Minister Resigns

Reports noted that UrAmerica signed a deal at the nuclear summit with an unidentified U.S. listed company. With the incoming partner to provide up to $150 million in production technology to jumpstart output from the UrAmerica deposits.

UrAmerica’s CEO Omar Adra was quoted as saying that the company will now “be able to produce uranium in Argentina in 2019.”

The big move is reportedly coming as Argentina is seeking higher levels of uranium supply — to feed a fourth nuclear reactor now in construction, as well as a fifth unit planned for construction using financing from China. Related: The World’s First 24/7 Solar Power Plant

If such a deal does come to pass, it would be a major signal that Argentina is committed to re-opening uranium mining. With incoming investors unlikely to pony up the reported sums unless they had reasonable certainty that officials will give mining the go-ahead.

The money involved also suggests that the incoming financier is a major player in uranium. And likely a current producer — given that reports also stated the firm could send its own uranium supply to Argentina.

The most likely candidate given the description is Cameco. Watch for a final announcement from UrAmerica or perhaps the Argentinean government on the exact identity of the key player in this developing story.

Here’s to bringing it back,

By Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play