• 11 hours Russia Approves Profit-Based Oil Tax For 2019
  • 15 hours French Strike Disrupts Exxon And Total’s Oil Product Shipments
  • 17 hours Kurdistan’s Oil Exports Still Below Pre-Conflict Levels
  • 19 hours Oil Production Cuts Taking A Toll On Russia’s Economy
  • 21 hours Aramco In Talks With Chinese Petrochemical Producers
  • 22 hours Federal Judge Grants Go-Ahead On Keystone XL Lawsuit
  • 23 hours Maduro Names Chavez’ Cousin As Citgo Boss
  • 1 day Bidding Action Heats Up In UK’s Continental Shelf
  • 1 day Keystone Pipeline Restart Still Unknown
  • 2 days UK Offers North Sea Oil Producers Tax Relief To Boost Investment
  • 2 days Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell
  • 2 days Trader Trafigura Raises Share Of Oil Purchases From State Firms
  • 2 days German Energy Group Uniper Rejects $9B Finnish Takeover Bid
  • 2 days Total Could Lose Big If It Pulls Out Of South Pars Deal
  • 2 days Dakota Watchdog Warns It Could Revoke Keystone XL Approval
  • 3 days Oil Prices Rise After API Reports Major Crude Draw
  • 3 days Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 3 days Gazprom Speaks Out Against OPEC Production Cut Extension
  • 3 days Statoil Looks To Lighter Oil To Boost Profitability
  • 3 days Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 3 days Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 3 days Whitefish Energy Suspends Work In Puerto Rico
  • 3 days U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 3 days Thanksgiving Gas Prices At 3-Year High
  • 4 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 4 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 4 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 4 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 4 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 4 days ConocoPhillips Sets Price Ceiling For New Projects
  • 6 days Shell Oil Trading Head Steps Down After 29 Years
  • 7 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 7 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 7 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 7 days Venezuela Officially In Default
  • 7 days Iran Prepares To Export LNG To Boost Trade Relations
  • 7 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 7 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 7 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 8 days Rosneft Announces Completion Of World’s Longest Well

Huge Uranium Deposits May Soon Be Fair Game In Argentina

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:




Back to homepage


Leave a comment

Leave a comment




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