• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 5 mins EU has already lost the Trump vs. EU Trade War
  • 1 day Crazy Stories From Round The World
  • 1 day Science: Only correct if it fits the popular narrative
  • 2 days Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
  • 8 hours Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 1 day Everything You Need To Know About Trump
  • 15 hours IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 25 mins Water, Trump, and Israel’s National Security
  • 1 day Impeachment Nonsense
  • 18 hours ‘If it saves a life’: Power cut to 1.5 million Californians
  • 2 days What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 2 days Who writes this stuff? "Crude Prices Swing Between Gains, Losses"
  • 12 hours Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

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