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$AA Alcoa Overview
Alcoa $AA CEO On 4Q Earnings & Alumina Shipments
Jan 18, 2024 #alcoa #markets #global
Alcoa (AA) is the world’s eighth-largest producer of aluminum. President and CEO Bill Oplinger joins Oliver Renick to give an overview of the company. He talks about Alcoa’s 4Q earnings. Its adjusted EPS came in at -$0.56 versus an estimated -$0.99 and revenue came in at $2.60B versus an estimated $2.61B. He goes over the outlook for the company as its alumina shipments came in at 12.7M -12.9M metric tons. Tune in to find out more about the stock market today.
Alcoa $AA CEO On 4Q Earnings & Alumina Shipments
Jan 18, 2024 #alcoa #markets #global
Alcoa (AA) is the world’s eighth-largest producer of aluminum. President and CEO Bill Oplinger joins Oliver Renick to give an overview of the company. He talks about Alcoa’s 4Q earnings. Its adjusted EPS came in at -$0.56 versus an estimated -$0.99 and revenue came in at $2.60B versus an estimated $2.61B. He goes over the outlook for the company as its alumina shipments came in at 12.7M -12.9M metric tons. Tune in to find out more about the stock market today.
Alcoa $AA CEO On 4Q Earnings & Alumina Shipments
Jan 18, 2024 #alcoa #markets #global
Alcoa (AA) is the world’s eighth-largest producer of aluminum. President and CEO Bill Oplinger joins Oliver Renick to give an overview of the company. He talks about Alcoa’s 4Q earnings. Its adjusted EPS came in at -$0.56 versus an estimated -$0.99 and revenue came in at $2.60B versus an estimated $2.61B. He goes over the outlook for the company as its alumina shipments came in at 12.7M -12.9M metric tons. Tune in to find out more about the stock market today.
$X U. S. Steel Announces Fourth Quarter and Full Year 2023 Financial Results
Feb 2, 2024
$X U. S. Steel Announces Fourth Quarter and Full Year 2023 Financial Results
Feb 2, 2024
Choosing Mining Stocks Through The Eyes Of The Beerholder
MARKET MOVERS
COMPANY CHANGE LAST TRADE
MP Materials +1.03 6.37% $17.19
McEwen Mining 0.62 6.65 $9.95
Gatos Silver 0.31 3.52 $9.12
Wesdome Gold Mines 0.28 3.29 $8.78
U.S. GoldMining 0.19 3.15 $6.23
Standard Lithium 0.15 8.67 $1.88
Orla Mining 0.13 2.77 $4.82
Element79 Gold 0.12 52.17 $0.35
Premium Nickel Resources 0.12 8.70 $1.50
Gold Reserve 0.10 2.36 $4.33
Marimaca Copper 0.08 2.44 $3.36
West Vault Mining 0.08 9.76 $0.90
NOA Lithium Brines 0.08 26.32 $0.36
Gabriel Resources 0.06 11.76 $0.57
Lumina Gold 0.06 12.77 $0.53
HIGH VOLUME
COMPANY VOLUME LAST TRADE
Uranium Energy 6,820,019 $8.15
NiCAN 5,453,385 $0.15
Capstone Copper 5,400,802 $6.51
B2Gold 5,025,667 $3.71
Libero Copper & Gold 4,718,260 $0.04
Sigma Lithium 4,208,041 $16.85
Fission Uranium 3,310,214 $1.30
Kinross Gold 2,325,193 $7.40
First Quantum Minerals 2,203,855 $12.40
Lundin Mining 2,035,408 $11.10
Sulliden Mining 2,006,600 $0.03
Calibre Mining 1,941,171 $1.41
Anfield Energy 1,685,915 $0.10
NexGen Energy 1,651,802 $10.91
Denison Mines 1,648,423 $2.84
Choosing Mining Stocks Through The Eyes Of The Beerholder
MARKET MOVERS
COMPANY CHANGE LAST TRADE
MP Materials +1.03 6.37% $17.19
McEwen Mining 0.62 6.65 $9.95
Gatos Silver 0.31 3.52 $9.12
Wesdome Gold Mines 0.28 3.29 $8.78
U.S. GoldMining 0.19 3.15 $6.23
Standard Lithium 0.15 8.67 $1.88
Orla Mining 0.13 2.77 $4.82
Element79 Gold 0.12 52.17 $0.35
Premium Nickel Resources 0.12 8.70 $1.50
Gold Reserve 0.10 2.36 $4.33
Marimaca Copper 0.08 2.44 $3.36
West Vault Mining 0.08 9.76 $0.90
NOA Lithium Brines 0.08 26.32 $0.36
Gabriel Resources 0.06 11.76 $0.57
Lumina Gold 0.06 12.77 $0.53
HIGH VOLUME
COMPANY VOLUME LAST TRADE
Uranium Energy 6,820,019 $8.15
NiCAN 5,453,385 $0.15
Capstone Copper 5,400,802 $6.51
B2Gold 5,025,667 $3.71
Libero Copper & Gold 4,718,260 $0.04
Sigma Lithium 4,208,041 $16.85
Fission Uranium 3,310,214 $1.30
Kinross Gold 2,325,193 $7.40
First Quantum Minerals 2,203,855 $12.40
Lundin Mining 2,035,408 $11.10
Sulliden Mining 2,006,600 $0.03
Calibre Mining 1,941,171 $1.41
Anfield Energy 1,685,915 $0.10
NexGen Energy 1,651,802 $10.91
Denison Mines 1,648,423 $2.84
BRICS nations to drag US back into the gold standard? Feat. Ron Branstetter - LFTV Ep 158
Kinesis Money
Feb 2, 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined - a popular request - by Ron Branstetter of Ron’s Basement to discuss the accelerating pace of change that silver stackers should experience in the months to come.
The precious metals experts take listeners through the implications of recent manoeuvres of the Global South, questioning whether international conflict can be avoided through leveraging a global gold and silver reevaluation.
BRICS nations to drag US back into the gold standard? Feat. Ron Branstetter - LFTV Ep 158
Kinesis Money
Feb 2, 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined - a popular request - by Ron Branstetter of Ron’s Basement to discuss the accelerating pace of change that silver stackers should experience in the months to come.
The precious metals experts take listeners through the implications of recent manoeuvres of the Global South, questioning whether international conflict can be avoided through leveraging a global gold and silver reevaluation.
Copper Crunch Ended in 2022 when Musk announced by raising the voltage from 12 volt to 48 volts will eliminate copper supply crunch.
All the auto manufactures will follow the savings
Copper gained only 2% last year, following a 14% decline in 2022. So far this year, the base metal’s price is little changed, with a metric ton of copper costing around $8,600, according to prices on the London Metal Exchange.
For more than seven decades, the 12-volt automobile power system has been the dominant force in the industry. However, 48-volt alternatives have started to break through this stronghold. The versions with a larger power output have a number of benefits, one of which is the capability to provide significantly higher levels of power across wiring harnesses that are thinner, lighter, and more affordable. Due to the fact that these systems do not have to satisfy the more strict safety and performance standards that govern so-called high-voltage systems that are rated for more than 62 V, the implementation of such systems is also relatively inexpensively done.
now back to the bullshirt
Hedge funds ramp up copper bets as supply shocks reverberate
https://www.mining.com/web/hedge-funds-ramp-up-copper-bets-as-supply-shocks-reverberate/
Copper Crunch Ended in 2022 when Musk announced by raising the voltage from 12 volt to 48 volts will eliminate copper supply crunch.
All the auto manufactures will follow the savings
Copper gained only 2% last year, following a 14% decline in 2022. So far this year, the base metal’s price is little changed, with a metric ton of copper costing around $8,600, according to prices on the London Metal Exchange.
For more than seven decades, the 12-volt automobile power system has been the dominant force in the industry. However, 48-volt alternatives have started to break through this stronghold. The versions with a larger power output have a number of benefits, one of which is the capability to provide significantly higher levels of power across wiring harnesses that are thinner, lighter, and more affordable. Due to the fact that these systems do not have to satisfy the more strict safety and performance standards that govern so-called high-voltage systems that are rated for more than 62 V, the implementation of such systems is also relatively inexpensively done.
now back to the bullshirt
Hedge funds ramp up copper bets as supply shocks reverberate
https://www.mining.com/web/hedge-funds-ramp-up-copper-bets-as-supply-shocks-reverberate/
$HL 1984 $21--2024 $4~
$HL 1984 $21--2024 $4~
Argentina lawmakers debate Milei’s ‘omnibus’ economic reform bill
Opposition has pledged to block the president’s mega-bill to reform the economy, politics and even some aspects of private life.
https://www.aljazeera.com/news/2024/1/31/argentina-lawmakers-debate-mileis-omnibus-economic-reform-bill
Argentina lawmakers debate Milei’s ‘omnibus’ economic reform bill
Opposition has pledged to block the president’s mega-bill to reform the economy, politics and even some aspects of private life.
https://www.aljazeera.com/news/2024/1/31/argentina-lawmakers-debate-mileis-omnibus-economic-reform-bill
$MUX Rob McEwen seeks $100 million for Argentina copper mine as Milei boosts prospects
Bloomberg News | January 30, 2024 | 10:19 am Top Companies Latin America Copper
McEwen lines up copper partner as surging prices spur interest
Canadian entrepreneur Rob McEwen is in talks to raise about $100 million for a copper project in Argentina, at a time when miners are betting that deregulation by the new government of Javier Milei will boost prospects for the industry.
His closely-held firm, McEwen Copper Inc., is speaking with existing holders — which include automaker Stellantis NV and a Rio Tinto Group venture — as well as prospective new investors, he said in an interview. The idea is to secure fresh funds within six months for feasibility and engineering work. Longer-term options include partnering with a major mining company.
SIGN UP FOR THE COPPER DIGEST
“We’re socializing the concept,” McEwen said Monday. “Just getting in front of a lot of people who finance large projects, not only for our immediate needs but for the longer term.”
The industry veteran who founded Goldcorp Inc. is hoping President Milei’s efforts to free up Argentina’s tightly controlled economy will help unlock vast copper deposits in San Juan province. That’s where McEwen wants to build the $2.5 billion Los Azules mine that would start up toward the end of the decade, when demand for the wiring metal is expected to accelerate in the shift away from fossil fuels.
Milei, a libertarian who took office on Dec. 10, wants to cut red tape as well as do away with customs and capital restrictions. If he can win over congressional opposition, such changes would reduce risks for investors, who remain optimistic yet cautious, McEwen said. The challenge for Milei is to move swiftly because metal markets are cyclical and financing windows can shut quickly, he said.
Los Azules isn’t waiting around for change. It already has 21 drill rigs on site, and it’s working on a renewable-energy supply deal from YPF Luz and a leaching method that would help it to be carbon neutral. It hopes to obtain an environmental permit this year, have a feasibility study ready in early 2025 and do pre-construction work from 2026, Michael Meding, who heads McEwen Copper, said in the same interview.
McEwen’s copper unit had planned to go public, but it’s now focusing on raising money privately since market conditions aren’t ripe for an IPO, McEwen said. He and Meding recognized that the investment climate for mining generally is tough, but said that tax incentives proposed for large Argentine infrastructure projects in Milei’s signature legislation could help lure partners.
“We think that we would classify as a large-scale infrastructure project and that would generate additional taxation stability,” Meding said. “And that would be very helpful in future financing discussions with the international community.”
(By James Attwood and Jonathan Gilbert)
https://www.mining.com/web/rob-mcewen-seeks-100-million-for-argentina-copper-mine-as-milei-boosts-prospects/
$MUX Rob McEwen seeks $100 million for Argentina copper mine as Milei boosts prospects
Bloomberg News | January 30, 2024 | 10:19 am Top Companies Latin America Copper
McEwen lines up copper partner as surging prices spur interest
McEwen Mining founder Robert McEwen. Image from archives.
Canadian entrepreneur Rob McEwen is in talks to raise about $100 million for a copper project in Argentina, at a time when miners are betting that deregulation by the new government of Javier Milei will boost prospects for the industry.
His closely-held firm, McEwen Copper Inc., is speaking with existing holders — which include automaker Stellantis NV and a Rio Tinto Group venture — as well as prospective new investors, he said in an interview. The idea is to secure fresh funds within six months for feasibility and engineering work. Longer-term options include partnering with a major mining company.
SIGN UP FOR THE COPPER DIGEST
“We’re socializing the concept,” McEwen said Monday. “Just getting in front of a lot of people who finance large projects, not only for our immediate needs but for the longer term.”
The industry veteran who founded Goldcorp Inc. is hoping President Milei’s efforts to free up Argentina’s tightly controlled economy will help unlock vast copper deposits in San Juan province. That’s where McEwen wants to build the $2.5 billion Los Azules mine that would start up toward the end of the decade, when demand for the wiring metal is expected to accelerate in the shift away from fossil fuels.
Milei, a libertarian who took office on Dec. 10, wants to cut red tape as well as do away with customs and capital restrictions. If he can win over congressional opposition, such changes would reduce risks for investors, who remain optimistic yet cautious, McEwen said. The challenge for Milei is to move swiftly because metal markets are cyclical and financing windows can shut quickly, he said.
Los Azules isn’t waiting around for change. It already has 21 drill rigs on site, and it’s working on a renewable-energy supply deal from YPF Luz and a leaching method that would help it to be carbon neutral. It hopes to obtain an environmental permit this year, have a feasibility study ready in early 2025 and do pre-construction work from 2026, Michael Meding, who heads McEwen Copper, said in the same interview.
McEwen’s copper unit had planned to go public, but it’s now focusing on raising money privately since market conditions aren’t ripe for an IPO, McEwen said. He and Meding recognized that the investment climate for mining generally is tough, but said that tax incentives proposed for large Argentine infrastructure projects in Milei’s signature legislation could help lure partners.
“We think that we would classify as a large-scale infrastructure project and that would generate additional taxation stability,” Meding said. “And that would be very helpful in future financing discussions with the international community.”
(By James Attwood and Jonathan Gilbert)
https://www.mining.com/web/rob-mcewen-seeks-100-million-for-argentina-copper-mine-as-milei-boosts-prospects/
Mines and Money Miami in conversation with Rick Rule
Mines and Money Jan 22, 2024
Visit https://minesandmoney.com/miami
Mines and Money Miami takes place at the James L. Knight Center, and in the run-up to the event, the Head of Investor Content, Jonathan Leader, spoke to the Advisory Board Chair, Rick Rule, Chief Executive Officer of Rule Investment Media about how he identifies winners in the junior mining space.
Mines and Money Miami in conversation with Rick Rule
Mines and Money Jan 22, 2024
Visit https://minesandmoney.com/miami
Mines and Money Miami takes place at the James L. Knight Center, and in the run-up to the event, the Head of Investor Content, Jonathan Leader, spoke to the Advisory Board Chair, Rick Rule, Chief Executive Officer of Rule Investment Media about how he identifies winners in the junior mining space.
Aluminum price jumps after report EU may sanction Russian metal
Bloomberg News | January 23, 2024 | 3:14 pm Intelligence Markets Europe Russia and Central Asia Aluminum
Aluminium
Prices rose as much as 3.6% on the London Metal Exchange as the report raised fresh concerns about the flow of Russian metal into western markets, and US and European aluminum stocks jumped.
However, while some EU member states are pushing for aluminum sanctions as the bloc shapes plans for a 13th package, the idea remains controversial in several capitals, people familiar with the discussions told Bloomberg. Any sanctions would require unanimous support of the EU’s 27 members.
Russian metals had escaped broad sanctions until December, when the UK moved to block British individuals and entities from trading physical Russian metals, including aluminum, copper and nickel. At the time, the UK hinted at the possibility of coordinated action with international partners in a statement announcing the sanctions.
Politico reported on Tuesday that EU countries will soon start discussing measures that could lead to a full ban on Russian aluminum, citing EU diplomats.
The LME said after the UK measures that its members and clients had been granted a license allowing the continued trade of Russian metals on the exchange, and it expected that the sanctions wouldn’t impact trading access to the LME. Still, the rules potentially may prevent UK persons from withdrawing Russian metal they buy on the exchange.
The LME said earlier this month it was “actively monitoring for market orderliness” after a flood of Russian aluminum onto the exchange in the wake of UK sanctions.
Aluminum rose 3.2% on Tuesday, the biggest daily increase in a month. Alcoa Corp., the largest US aluminum producer, jumped as much as 10% before paring gains. Other metals were also higher, with zinc climbing 2.6% and copper up 0.7%.
(By Mark Burton)
https://www.mining.com/web/aluminum-price-jumps-after-report-eu-may-sanction-russian-metal/
Foil "Weird Al "
Aluminum price jumps after report EU may sanction Russian metal
Bloomberg News | January 23, 2024 | 3:14 pm Intelligence Markets Europe Russia and Central Asia Aluminum
Aluminium
Prices rose as much as 3.6% on the London Metal Exchange as the report raised fresh concerns about the flow of Russian metal into western markets, and US and European aluminum stocks jumped.
However, while some EU member states are pushing for aluminum sanctions as the bloc shapes plans for a 13th package, the idea remains controversial in several capitals, people familiar with the discussions told Bloomberg. Any sanctions would require unanimous support of the EU’s 27 members.
Russian metals had escaped broad sanctions until December, when the UK moved to block British individuals and entities from trading physical Russian metals, including aluminum, copper and nickel. At the time, the UK hinted at the possibility of coordinated action with international partners in a statement announcing the sanctions.
Politico reported on Tuesday that EU countries will soon start discussing measures that could lead to a full ban on Russian aluminum, citing EU diplomats.
The LME said after the UK measures that its members and clients had been granted a license allowing the continued trade of Russian metals on the exchange, and it expected that the sanctions wouldn’t impact trading access to the LME. Still, the rules potentially may prevent UK persons from withdrawing Russian metal they buy on the exchange.
The LME said earlier this month it was “actively monitoring for market orderliness” after a flood of Russian aluminum onto the exchange in the wake of UK sanctions.
Aluminum rose 3.2% on Tuesday, the biggest daily increase in a month. Alcoa Corp., the largest US aluminum producer, jumped as much as 10% before paring gains. Other metals were also higher, with zinc climbing 2.6% and copper up 0.7%.
(By Mark Burton)
https://www.mining.com/web/aluminum-price-jumps-after-report-eu-may-sanction-russian-metal/
Foil "Weird Al "
Choosing Mining Stocks Through The Eyes Of A Beer-Holder
MARKET MOVERS
COMPANY CHANGE LAST TRADE
Royal Gold 0.58 0.50 $116.34
Freeport-McMoRan 0.56 1.47 $38.77
Minas Buenaventura 0.46 3.19 $14.89
NGEx Minerals 0.41 5.43 $7.96
Lundin Mining 0.28 2.82 $10.20
Aya Gold & Silver 0.18 1.78 $10.27
Ero Copper 0.18 0.89 $20.48
Li-FT Power 0.18 2.99 $6.21
Gold Fields 0.17 1.36 $12.66
Graphite One 0.15 17.05 $1.03
Ivanhoe Mines 0.14 1.06 $13.29
Callinex Mines 0.12 7.84 $1.65
Filo 0.11 0.52 $21.38
Perpetua Resources 0.10 2.49 $4.11
Victoria Gold 0.10 1.57 $6.48
HIGH VOLUME
COMPANY VOLUME LAST TRADE
Uranium Energy 8,091,601 $7.74
Libero Copper & Gold 6,847,460 $0.02
Kinross Gold 4,595,207 $7.26
Origen Resources 3,723,900 $0.03
F3 Uranium 3,578,579 $0.45
Blackwolf Copper and Gold 3,423,875 $0.14
First Quantum Minerals 3,224,579 $12.55
Lithium Ionic 3,163,151 $1.08
Sienna Resources 2,716,888 $0.05
B2Gold 2,114,554 $3.90
Lundin Mining 1,968,708 $10.20
GoviEx Uranium 1,949,651 $0.20
Rusoro Mining 1,921,454 $0.89
NexGen Energy 1,807,748 $10.21
Choosing Mining Stocks Through The Eyes Of A Beer-Holder
MARKET MOVERS
COMPANY CHANGE LAST TRADE
Royal Gold 0.58 0.50 $116.34
Freeport-McMoRan 0.56 1.47 $38.77
Minas Buenaventura 0.46 3.19 $14.89
NGEx Minerals 0.41 5.43 $7.96
Lundin Mining 0.28 2.82 $10.20
Aya Gold & Silver 0.18 1.78 $10.27
Ero Copper 0.18 0.89 $20.48
Li-FT Power 0.18 2.99 $6.21
Gold Fields 0.17 1.36 $12.66
Graphite One 0.15 17.05 $1.03
Ivanhoe Mines 0.14 1.06 $13.29
Callinex Mines 0.12 7.84 $1.65
Filo 0.11 0.52 $21.38
Perpetua Resources 0.10 2.49 $4.11
Victoria Gold 0.10 1.57 $6.48
HIGH VOLUME
COMPANY VOLUME LAST TRADE
Uranium Energy 8,091,601 $7.74
Libero Copper & Gold 6,847,460 $0.02
Kinross Gold 4,595,207 $7.26
Origen Resources 3,723,900 $0.03
F3 Uranium 3,578,579 $0.45
Blackwolf Copper and Gold 3,423,875 $0.14
First Quantum Minerals 3,224,579 $12.55
Lithium Ionic 3,163,151 $1.08
Sienna Resources 2,716,888 $0.05
B2Gold 2,114,554 $3.90
Lundin Mining 1,968,708 $10.20
GoviEx Uranium 1,949,651 $0.20
Rusoro Mining 1,921,454 $0.89
NexGen Energy 1,807,748 $10.21
Volatility isn’t in gold or oil, it’s in the dollar!" Feat. Alasdair Macleod - LFTV Ep 156
Kinesis Money
Jan 19, 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined by Alasdair Macleod, stockbroker and Head of Research for Goldmoney, to exchange views on the US dollar hegemony and its impact on the price of gold.
Giving an update on the de-dollarisation process and the geopolitical impact of tensions in the Middle East affecting the global economy, the precious metals experts take us through the debt trap the US has fallen into.
Follow Alasdair here: https://alasdairmacleod.substack.com/
Ask your questions for Andy here: https://forum.kinesis.money/threads/q...
Volatility isn’t in gold or oil, it’s in the dollar!" Feat. Alasdair Macleod - LFTV Ep 156
Kinesis Money
Jan 19, 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined by Alasdair Macleod, stockbroker and Head of Research for Goldmoney, to exchange views on the US dollar hegemony and its impact on the price of gold.
Giving an update on the de-dollarisation process and the geopolitical impact of tensions in the Middle East affecting the global economy, the precious metals experts take us through the debt trap the US has fallen into.
Follow Alasdair here: https://alasdairmacleod.substack.com/
Ask your questions for Andy here: https://forum.kinesis.money/threads/q...
$X United Steelworkers union files grievances against U.S. Steel over proposed Nippon sale
with MMGYS Soundtrack Continuing Coverage
90.5 WESA | By Cindi Lash
Published January 13, 2024 at 11:24 AM EST
U.S. Steel's Edgar Thomson Works in Braddock, Pa., on Dec. 18, 2023, the day the storied American company announced plans to be acquired by Japan-based Nippon Steel.
The United Steelworkers union has filed grievances against U.S. Steel, alleging the Pittsburgh-based steelmaker violated its contracts with the union when it entered an agreement in December to be acquired by Nippon Steel Corporation.
The international union and union locals in Illinois, Indiana and Minnesota filed the grievances, alleging U.S. Steel violated the successorship clause in its basic labor agreements with the USW when it entered the $14.9 billion deal on Dec. 18 with a Houston-based North American holding company of the Japanese steel conglomerate.
U.S. Steel violated the contracts "in a number of ways," the USW said in a statement to its members issued late Friday.
Also in its statement, the USW questioned whether Nippon Steel North America has the resources to adhere to and fulfill the terms of the union's four-year contract with U.S. Steel, which would remain in effect after a sale.
"These rights are enforceable guarantees that a company seeking to buy our facilities cannot shirk its responsibilities to workers and retirees," the USW said.
The USW said in its statement U.S. Steel entered the sale agreement without reaching out to the union, and the company did not share information about Nippon's finances or ability to fulfill U.S. Steel's existing labor, pension, retiree and other agreements with the USW.
"... We did not agree to this arrangement, nor do we have any information about the financial wherewithal of this holding company to actually stand behind all of the obligations of our existing agreements," the USW said in its statement.
"Commitments like pensions, profit-sharing, capital expenditures, retiree health care and more are all part of the compensation we negotiated in bargaining our contract. Anyone who wants to acquire our facilities must have both the intent and the financial capacity to honor them."
In a statement Saturday, U.S. Steel said it "complied with its obligations under the Basic Labor Agreements, and [it] expect[s] to work through and favorably resolve any grievances filed by the USW as quickly as possible.
"Our USW-represented employees are an integral part of our operations, and we will continue to work collaboratively with the USW and support our employees," the company said in its statement.
When U.S. Steel announced the sale agreement on Dec. 18, it said "all of [its] commitments with its employees," including existing collective bargaining agreements with unions, would be honored and Nippon Steel was "committed to maintaining these relationships uninterrupted." The company also said it would "retain its iconic name and headquarters in Pittsburgh."
Under the sale agreement, Nippon Steel will pay $55 per share for U.S. Steel. Nippon Steel said the deal will bolster its manufacturing and technology capabilities, expand its U.S. production and add to its positions in Japan, India and Southeast Asia.
The agreement came after U.S. Steel in August rejected a $7.3 billion buyout offer from Ohio-based Cleveland-Cliffs Inc. and said it was reviewing “strategic alternatives” after receiving several unsolicited offers.
The acquisition has been approved by the boards of both companies and is targeted to close in the second or third quarter of 2024. It still needs approval from U.S. Steel shareholders.
The deal has attracted scrutiny and opposition from regional and national government leaders and lawmakers, including Pennsylvania U.S. Sens. John Fetterman and Bob Casey, both of whom said the company should remain under U.S. ownership. Environmental advocates, who have long targeted U.S. Steel's plants in Western Pennsylvania as a source of particulate matter pollution, also have expressed both concern and optimism about the potential effect of the sale on efforts to mitigate emissions and the environmental impact of the plants.
In December, officials from President Joe Biden's administration said he “believes the purchase of this iconic American-owned company by a foreign entity — even one from a close ally — appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability.”
Lael Brainard, the director of the National Economic Council, indicated then the deal would be reviewed by the secretive Committee on Foreign Investment in the United States, in which she participates. It includes economic and national security agency representatives to investigate national security risks from foreign investments in American firms.
The Associated Press contributed to this report.
https://www.wesa.fm/economy-business/2024-01-13/united-steelworkers-union-grievances-u-s-steel-nippon-sale
$X United Steelworkers union files grievances against U.S. Steel over proposed Nippon sale
with MMGYS Soundtrack Continuing Coverage
90.5 WESA | By Cindi Lash
Published January 13, 2024 at 11:24 AM EST
U.S. Steel's Edgar Thomson Works in Braddock, Pa., on Dec. 18, 2023, the day the storied American company announced plans to be acquired by Japan-based Nippon Steel.
The United Steelworkers union has filed grievances against U.S. Steel, alleging the Pittsburgh-based steelmaker violated its contracts with the union when it entered an agreement in December to be acquired by Nippon Steel Corporation.
The international union and union locals in Illinois, Indiana and Minnesota filed the grievances, alleging U.S. Steel violated the successorship clause in its basic labor agreements with the USW when it entered the $14.9 billion deal on Dec. 18 with a Houston-based North American holding company of the Japanese steel conglomerate.
U.S. Steel violated the contracts "in a number of ways," the USW said in a statement to its members issued late Friday.
Also in its statement, the USW questioned whether Nippon Steel North America has the resources to adhere to and fulfill the terms of the union's four-year contract with U.S. Steel, which would remain in effect after a sale.
"These rights are enforceable guarantees that a company seeking to buy our facilities cannot shirk its responsibilities to workers and retirees," the USW said.
The USW said in its statement U.S. Steel entered the sale agreement without reaching out to the union, and the company did not share information about Nippon's finances or ability to fulfill U.S. Steel's existing labor, pension, retiree and other agreements with the USW.
"... We did not agree to this arrangement, nor do we have any information about the financial wherewithal of this holding company to actually stand behind all of the obligations of our existing agreements," the USW said in its statement.
"Commitments like pensions, profit-sharing, capital expenditures, retiree health care and more are all part of the compensation we negotiated in bargaining our contract. Anyone who wants to acquire our facilities must have both the intent and the financial capacity to honor them."
In a statement Saturday, U.S. Steel said it "complied with its obligations under the Basic Labor Agreements, and [it] expect[s] to work through and favorably resolve any grievances filed by the USW as quickly as possible.
"Our USW-represented employees are an integral part of our operations, and we will continue to work collaboratively with the USW and support our employees," the company said in its statement.
When U.S. Steel announced the sale agreement on Dec. 18, it said "all of [its] commitments with its employees," including existing collective bargaining agreements with unions, would be honored and Nippon Steel was "committed to maintaining these relationships uninterrupted." The company also said it would "retain its iconic name and headquarters in Pittsburgh."
Under the sale agreement, Nippon Steel will pay $55 per share for U.S. Steel. Nippon Steel said the deal will bolster its manufacturing and technology capabilities, expand its U.S. production and add to its positions in Japan, India and Southeast Asia.
The agreement came after U.S. Steel in August rejected a $7.3 billion buyout offer from Ohio-based Cleveland-Cliffs Inc. and said it was reviewing “strategic alternatives” after receiving several unsolicited offers.
The acquisition has been approved by the boards of both companies and is targeted to close in the second or third quarter of 2024. It still needs approval from U.S. Steel shareholders.
The deal has attracted scrutiny and opposition from regional and national government leaders and lawmakers, including Pennsylvania U.S. Sens. John Fetterman and Bob Casey, both of whom said the company should remain under U.S. ownership. Environmental advocates, who have long targeted U.S. Steel's plants in Western Pennsylvania as a source of particulate matter pollution, also have expressed both concern and optimism about the potential effect of the sale on efforts to mitigate emissions and the environmental impact of the plants.
In December, officials from President Joe Biden's administration said he “believes the purchase of this iconic American-owned company by a foreign entity — even one from a close ally — appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability.”
Lael Brainard, the director of the National Economic Council, indicated then the deal would be reviewed by the secretive Committee on Foreign Investment in the United States, in which she participates. It includes economic and national security agency representatives to investigate national security risks from foreign investments in American firms.
The Associated Press contributed to this report.
https://www.wesa.fm/economy-business/2024-01-13/united-steelworkers-union-grievances-u-s-steel-nippon-sale
Nuclear Energy Stocks Are Surging While the Market Is Floundering
with MMGYS Soundtrack
Clearly, the Nuclear Energy Renaissance has arrived
8h ago · By Luke Lango, InvestorPlace Senior Investment Analyst
While the S&P 500 has dropped in January, the Global X Uranium ETF (URA) is up more than 10%. The Sprott Uranium Miners ETF (URNM) is up more than 15%. And U.S.-based uranium miner Uranium Energy (UEC) is already up 25% year-to-date.
Engineering and efficiency improvements to nuclear reactors have all but made safety concerns obsolete. Reactors have become increasingly good at containing radioactive waste. And now nuclear energy is basically the safest form of energy production in the world.
For the past several months, we’ve been studying the nuclear energy industry. And we’ve identified two very promising investment opportunities therein: domestic uranium miners and nuclear fusion developers.
The stock market is off to a rough start to 2024. But someone forgot to give that memo to the red-hot nuclear energy sector.
While the S&P 500 has dropped in January, the Global X Uranium ETF (URA) is up more than 10%. The Sprott Uranium Miners ETF (URNM) is up more than 15%. And U.S.-based uranium miner Uranium Energy (UEC) is already up 25% year-to-date.
n other words, the bull market in stocks has stalled in January. But the bull market in uranium stocks has not wavered – and it won’t anytime soon.
That’s because uranium is the core ingredient in nuclear reactors. And nuclear energy is undergoing a renaissance right now.
Of course, nuclear energy has had its setbacks over the past 50 years. But it has become increasingly clear that it is the ‘Pareto-optimal’ solution to the world’s energy crisis.
Obviously, the world needs more energy. But fossil fuels aren’t cutting it amid the global shift toward clean energy. And renewables like solar and wind are exceptionally expensive and unreliable, especially now, when the world is trying to avoid higher costs and power outages.
But nuclear energy solves all those shortcomings.
Unlike fossil fuels, nuclear reactors do not produce any direct carbon dioxide emissions or air pollution. And unlike renewables, nuclear energy is abundant and cheap. Plus, it can be produced at all times of day and in all weather conditions.
Nuclear Energy: The Ultimate Power Source?
For a long time, folks were fearful of nuclear reactors’ potential threats to safety. Considering the disasters of Chernobyl and Fukushima, that’s entirely understandable. But those concerns have proven antiquated in recent years. In fact, these days, you’d be hard-pressed to find any serious scientist questioning the safety of nuclear energy.
Specifically, engineering and efficiency improvements to nuclear reactors have all but made safety concerns obsolete. Reactors have become increasingly good at containing radioactive waste. And now nuclear energy is basically the safest form of energy production in the world.
For example, for every terawatt-hour of coal electricity produced, about 26 people die from accidents and air pollution. For oil, that figure stands at 18 deaths per terawatt-hour of electricity produced.
But for nuclear power plants, just 0.03 people die from related accidents and air pollution.
What’s not to like about nuclear these days?
Not much – which is why governments across the world are starting to take notice. They are ditching antiquated beliefs about nuclear reactors and embracing them instead, centering nuclear power in their future energy plans.
Right now, the U.S. is spearheading a multinational effort to triple nuclear energy capacity by 2050. The United Kingdom just announced its biggest expansion plans for nuclear power in 70 years, vowing to quadruple production. France recently introduced a new energy bill that prioritizes additional nuclear energy development. And Canada is building the world’s largest nuclear power plant in Ontario.
Clearly, the Nuclear Renaissance has arrived.
The Final Word
For the past several months, we’ve been studying the nuclear energy industry. And we’ve identified two very promising investment opportunities therein: domestic uranium miners and nuclear fusion developers.
In short, most of the world’s uranium supply comes from Kazakhstan, Russia’s neighbor. And as Western nations increasingly develop nuclear reactors, they will also increasingly want to power those reactors with domestically sourced uranium – not uranium from Kazakhstan. Therefore, it seems that domestic uranium miners would make great investments.
Additionally, we believe that recent rapid developments in AI will allow us to soon solve the world’s nuclear fusion problem, allowing us to create sustainable, safe, and powerful nuclear fusion reactors. And that will be an absolute game-changer for folks around the globe.
That’s why, considering the Nuclear Energy Renaissance’s current trajectory, we’re looking for domestic uranium miners and nuclear fusion developers.
And in fact, we just bought a few of our top picks in this space.
https://investorplace.com/hypergrowthinvesting/2024/01/nuclear-energy-stocks-are-surging-while-the-market-is-floundering/
Lindsey Stirling & Pentatonix - Radioactive (Imagine Dragons Cover)
Nuclear Energy Stocks Are Surging While the Market Is Floundering
with MMGYS Soundtrack
Clearly, the Nuclear Energy Renaissance has arrived
8h ago · By Luke Lango, InvestorPlace Senior Investment Analyst
While the S&P 500 has dropped in January, the Global X Uranium ETF (URA) is up more than 10%. The Sprott Uranium Miners ETF (URNM) is up more than 15%. And U.S.-based uranium miner Uranium Energy (UEC) is already up 25% year-to-date.
Engineering and efficiency improvements to nuclear reactors have all but made safety concerns obsolete. Reactors have become increasingly good at containing radioactive waste. And now nuclear energy is basically the safest form of energy production in the world.
For the past several months, we’ve been studying the nuclear energy industry. And we’ve identified two very promising investment opportunities therein: domestic uranium miners and nuclear fusion developers.
The stock market is off to a rough start to 2024. But someone forgot to give that memo to the red-hot nuclear energy sector.
While the S&P 500 has dropped in January, the Global X Uranium ETF (URA) is up more than 10%. The Sprott Uranium Miners ETF (URNM) is up more than 15%. And U.S.-based uranium miner Uranium Energy (UEC) is already up 25% year-to-date.
n other words, the bull market in stocks has stalled in January. But the bull market in uranium stocks has not wavered – and it won’t anytime soon.
That’s because uranium is the core ingredient in nuclear reactors. And nuclear energy is undergoing a renaissance right now.
Of course, nuclear energy has had its setbacks over the past 50 years. But it has become increasingly clear that it is the ‘Pareto-optimal’ solution to the world’s energy crisis.
Obviously, the world needs more energy. But fossil fuels aren’t cutting it amid the global shift toward clean energy. And renewables like solar and wind are exceptionally expensive and unreliable, especially now, when the world is trying to avoid higher costs and power outages.
But nuclear energy solves all those shortcomings.
Unlike fossil fuels, nuclear reactors do not produce any direct carbon dioxide emissions or air pollution. And unlike renewables, nuclear energy is abundant and cheap. Plus, it can be produced at all times of day and in all weather conditions.
Nuclear Energy: The Ultimate Power Source?
For a long time, folks were fearful of nuclear reactors’ potential threats to safety. Considering the disasters of Chernobyl and Fukushima, that’s entirely understandable. But those concerns have proven antiquated in recent years. In fact, these days, you’d be hard-pressed to find any serious scientist questioning the safety of nuclear energy.
Specifically, engineering and efficiency improvements to nuclear reactors have all but made safety concerns obsolete. Reactors have become increasingly good at containing radioactive waste. And now nuclear energy is basically the safest form of energy production in the world.
For example, for every terawatt-hour of coal electricity produced, about 26 people die from accidents and air pollution. For oil, that figure stands at 18 deaths per terawatt-hour of electricity produced.
But for nuclear power plants, just 0.03 people die from related accidents and air pollution.
What’s not to like about nuclear these days?
Not much – which is why governments across the world are starting to take notice. They are ditching antiquated beliefs about nuclear reactors and embracing them instead, centering nuclear power in their future energy plans.
Right now, the U.S. is spearheading a multinational effort to triple nuclear energy capacity by 2050. The United Kingdom just announced its biggest expansion plans for nuclear power in 70 years, vowing to quadruple production. France recently introduced a new energy bill that prioritizes additional nuclear energy development. And Canada is building the world’s largest nuclear power plant in Ontario.
Clearly, the Nuclear Renaissance has arrived.
The Final Word
For the past several months, we’ve been studying the nuclear energy industry. And we’ve identified two very promising investment opportunities therein: domestic uranium miners and nuclear fusion developers.
In short, most of the world’s uranium supply comes from Kazakhstan, Russia’s neighbor. And as Western nations increasingly develop nuclear reactors, they will also increasingly want to power those reactors with domestically sourced uranium – not uranium from Kazakhstan. Therefore, it seems that domestic uranium miners would make great investments.
Additionally, we believe that recent rapid developments in AI will allow us to soon solve the world’s nuclear fusion problem, allowing us to create sustainable, safe, and powerful nuclear fusion reactors. And that will be an absolute game-changer for folks around the globe.
That’s why, considering the Nuclear Energy Renaissance’s current trajectory, we’re looking for domestic uranium miners and nuclear fusion developers.
And in fact, we just bought a few of our top picks in this space.
https://investorplace.com/hypergrowthinvesting/2024/01/nuclear-energy-stocks-are-surging-while-the-market-is-floundering/
Lindsey Stirling & Pentatonix - Radioactive (Imagine Dragons Cover)
Uranium Prices at 16-Year Highs, Breaking $100 Per Pound
By
Jennifer L
Spot uranium prices recently reached a peak not witnessed since 2007, standing strong at $101 per pound, per Numerico data.
This upswing signifies a constrained nuclear fuel market, growing expectations for future demand, and the imperative for additional mine restarts and new constructions, according to experts in the uranium industry.
Uranium is Powering Up the Future
The surge in uranium prices aligns with an increased focus on nuclear energy in global climate change mitigation efforts. Furthermore, rising uranium prices have spurred the revival of uranium mining operations previously scaled back following the 2011 Fukushima disaster.
Analysts and industry players anticipate more mine restarts in 2024. Plus, new builds are getting more attractive due to rising prices and anticipated supply deficits over the coming years.
The spot price of uranium surging $100/pound was more than a 100% increase from the 2023 low. It is also a whopping >300% rise from the 2020 low.
Uranium Spot Price USD Per Pound
$101/pound
uranium spot price Jan 12 Numerico
Source: Numerico.com
The 16-year high uranium price, cracking at $101/pound since 2007, is driven by several factors.
For one, shortage in uranium supplies since the Fukushima incident drove prices upward.
Moreover, a U.S. bill seeking to ban nuclear fuel imports from Russia further contributes to the prices’ upward trajectory. The bill was called “NO RUSSIA” – National Opportunity to Restore Uranium Supply Services In America Act of 2022. Put simply, Russia will be out of the U.S. uranium market.
What Causes the Unprecedented Rise of Uranium?
But what are the market experts saying about this price breakthrough?
According to a uranium market analyst, Marin Katusa, the 16-year high uranium price reflects the “real” cost of bringing on previously built and permitted facilities to replace uranium exported from Russia and Niger.
Marin also noted that with the US banning Russian imports, the logical investment is exposure to permitted, built out production in the US. The banned imports include Kazakh production owing to Russian enrichment.
Uranium prices have to increase more, Marin further noted, to incentivize new projects like the case with the Athabasca Basin. Building a new mine in North America would need even higher prices than $100.
Highlighting the growing demands for clean energy from data centers, which require more power for new technologies, SMR technologies offer a promising solution.
Small modular reactor development, with under 300 MWe capacity, is taking place in Western countries with increasing private investment. North America, in particular, would be the epicenter of this rapidly growing nuclear resurgence.
Marin also highlighted Japan’s decision to bring on the world’s largest nuclear power plant and its pro-nuclear stance since Fukushima. This and the positive outlook for nuclear technology globally coming out of the recent COP28 climate summit will create new demand for long term supply of uranium in politically stable jurisdictions. After all, Marin said that:
“…no nation wants to experience what France is experiencing in Niger with their uranium supply being completely cut off.”
For Miss America 2023, Grace Stanke, who happens to be a student of nuclear engineering, nuclear energy already plays a big role in the lives of many Americans. As a nuclear champion, Grace particularly noted that:
“From curing my dad’s cancer twice, to powering 20% of America, to helping with agriculture which is so important in my home state of Wisconsin… it really does feel like nuclear does it all.”
Beyond the Price: Uranium’s Ascent and Nuclear Energy Resurgence
As the world strives to reduce carbon emissions, zero-carbon nuclear energy is crucial. This is expected to make the demand for uranium explode much more.
In effect, escalating spot uranium prices may also exert upward pressure on contract prices as sellers seek higher returns. While higher prices may not dissuade utilities for short-term needs, climbing contract prices, covering larger quantities of uranium, could have a more substantial impact.
Some utilities are already experiencing “sticker shock”, as seen below in the S&P Global presentation. Experts also anticipate a widespread increase in nuclear fuel costs in the coming years due to rising market prices.
uranium companies stock performance
Notably, higher uranium prices would also drive further restarts in the near term, with industry giants like NAZ Kazatomprom JSC and Cameco restarting idle capacity. Canada-based Cameco will add capacity as needed under long-term contract pricing.
Meanwhile, Kazakhstan-based Kazatomprom, the largest uranium producer, plans to return to full production capacity by 2025. However, given the challenges that the company faces related to the availability of sulphuric acid (a critical operating material), they expect adjustments to their 2024 production plans. They also anticipate delays in finishing construction works at their newly developed deposits. These may affect Kazatomprom’s 2025 production plan, subject to considerable supply chain risks.
The surge in uranium prices signifies a resurgence in the nuclear energy sector. Driven by geopolitical shifts, legislative actions, and a growing demand for clean energy, the uranium market is poised for unprecedented growth.
https://carboncredits.com/uranium-spot-prices-at-16-year-high-breaking-100-per-pound/
Swing Kids (1993) - The Benny Goodman Orchestra - Sing, Sing, Sing
Uranium Prices at 16-Year Highs, Breaking $100 Per Pound
By
Jennifer L
Spot uranium prices recently reached a peak not witnessed since 2007, standing strong at $101 per pound, per Numerico data.
This upswing signifies a constrained nuclear fuel market, growing expectations for future demand, and the imperative for additional mine restarts and new constructions, according to experts in the uranium industry.
Uranium is Powering Up the Future
The surge in uranium prices aligns with an increased focus on nuclear energy in global climate change mitigation efforts. Furthermore, rising uranium prices have spurred the revival of uranium mining operations previously scaled back following the 2011 Fukushima disaster.
Analysts and industry players anticipate more mine restarts in 2024. Plus, new builds are getting more attractive due to rising prices and anticipated supply deficits over the coming years.
The spot price of uranium surging $100/pound was more than a 100% increase from the 2023 low. It is also a whopping >300% rise from the 2020 low.
Uranium Spot Price USD Per Pound
$101/pound
uranium spot price Jan 12 Numerico
Source: Numerico.com
The 16-year high uranium price, cracking at $101/pound since 2007, is driven by several factors.
For one, shortage in uranium supplies since the Fukushima incident drove prices upward.
Moreover, a U.S. bill seeking to ban nuclear fuel imports from Russia further contributes to the prices’ upward trajectory. The bill was called “NO RUSSIA” – National Opportunity to Restore Uranium Supply Services In America Act of 2022. Put simply, Russia will be out of the U.S. uranium market.
What Causes the Unprecedented Rise of Uranium?
But what are the market experts saying about this price breakthrough?
According to a uranium market analyst, Marin Katusa, the 16-year high uranium price reflects the “real” cost of bringing on previously built and permitted facilities to replace uranium exported from Russia and Niger.
Marin also noted that with the US banning Russian imports, the logical investment is exposure to permitted, built out production in the US. The banned imports include Kazakh production owing to Russian enrichment.
Uranium prices have to increase more, Marin further noted, to incentivize new projects like the case with the Athabasca Basin. Building a new mine in North America would need even higher prices than $100.
Highlighting the growing demands for clean energy from data centers, which require more power for new technologies, SMR technologies offer a promising solution.
Small modular reactor development, with under 300 MWe capacity, is taking place in Western countries with increasing private investment. North America, in particular, would be the epicenter of this rapidly growing nuclear resurgence.
Marin also highlighted Japan’s decision to bring on the world’s largest nuclear power plant and its pro-nuclear stance since Fukushima. This and the positive outlook for nuclear technology globally coming out of the recent COP28 climate summit will create new demand for long term supply of uranium in politically stable jurisdictions. After all, Marin said that:
“…no nation wants to experience what France is experiencing in Niger with their uranium supply being completely cut off.”
For Miss America 2023, Grace Stanke, who happens to be a student of nuclear engineering, nuclear energy already plays a big role in the lives of many Americans. As a nuclear champion, Grace particularly noted that:
“From curing my dad’s cancer twice, to powering 20% of America, to helping with agriculture which is so important in my home state of Wisconsin… it really does feel like nuclear does it all.”
Beyond the Price: Uranium’s Ascent and Nuclear Energy Resurgence
As the world strives to reduce carbon emissions, zero-carbon nuclear energy is crucial. This is expected to make the demand for uranium explode much more.
In effect, escalating spot uranium prices may also exert upward pressure on contract prices as sellers seek higher returns. While higher prices may not dissuade utilities for short-term needs, climbing contract prices, covering larger quantities of uranium, could have a more substantial impact.
Some utilities are already experiencing “sticker shock”, as seen below in the S&P Global presentation. Experts also anticipate a widespread increase in nuclear fuel costs in the coming years due to rising market prices.
uranium companies stock performance
Notably, higher uranium prices would also drive further restarts in the near term, with industry giants like NAZ Kazatomprom JSC and Cameco restarting idle capacity. Canada-based Cameco will add capacity as needed under long-term contract pricing.
Meanwhile, Kazakhstan-based Kazatomprom, the largest uranium producer, plans to return to full production capacity by 2025. However, given the challenges that the company faces related to the availability of sulphuric acid (a critical operating material), they expect adjustments to their 2024 production plans. They also anticipate delays in finishing construction works at their newly developed deposits. These may affect Kazatomprom’s 2025 production plan, subject to considerable supply chain risks.
The surge in uranium prices signifies a resurgence in the nuclear energy sector. Driven by geopolitical shifts, legislative actions, and a growing demand for clean energy, the uranium market is poised for unprecedented growth.
https://carboncredits.com/uranium-spot-prices-at-16-year-high-breaking-100-per-pound/
Swing Kids (1993) - The Benny Goodman Orchestra - Sing, Sing, Sing
$UROY HOY $3.66 ~
$UROY HOY $3.66 ~
Very nice video Drew said it well ! $URG $EU HOYs today
Uranium Fever $URG $EU HOYs
Check out a uranium stock near you !
Uranium Fever $URG $EU HOYs
Check out a uranium stock near you !
All these types are Lurching upwards 😃
Uranium stocks rise in latest metal trader craze
Might pick up some $URG types
Uranium price jumps to 15-year high as top miner flags shortfall
Cecilia Jamasmie | January 12, 2024 | 5:53 am Energy Markets Asia Uranium
Uranium jumps to 15-year high as top miner flags shortfall
State-controlled Kazatomprom mines uranium in Kazakhstan both independently and through joint ventures. (Image courtesy of Kazatomprom.)
Uranium prices jumped on Friday to an almost 15-year high after the world’s largest producer, Kazakhstan’s Kazatomprom (LON: KAP), warned it’s likely to fall short of its output targets over the next two years.
The miner cited shortages of sulfuric acid and construction delays at newly developed deposits as the main factors behind ongoing production challenges, which it said could persist into 2025. A detailed assessment of the potential impacts on output will be released in a trading update by Feb. 1, it added.
“Despite the ongoing active search for alternative sources of sulfuric acid supply, current forecasts indicate that the company may find it difficult to achieve 90% production levels compared to subsoil use contract levels,” Kazatomprom said in the statement.
Sulfuric acid is a favourite among producers to extract uranium from the raw ore due to its low-cost and efficiency for different types of ores.
Kazatomprom noted its guidance for next year could also be affected if supply snags continue throughout 2024 and if it isn’t able to comply with scheduled construction works.
The spot price of the radioactive metal has more-than doubled in 2023 and it is currently trading at $97.45 a pound — still far from the triple-digit figures achieved in 2007 and the fallout after the 2011 Fukushima disaster in Japan.
The price increase comes as 24 nations, including the United States, Japan, Canada, Britain and France pledged last month in Dubai at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change, known as COP28, to triple nuclear power capacity by 2050.
Uranium jumps to 15-year high as top miner flags shortfall
China, which wasn’t part of that promise, still leads global nuclear plant construction with plans to nearly double capacity to 100 gigawatts by the end of this decade. The Asian country has 22 of 58 plants being built worldwide.
Recent legislation in the US could also affect uranium prices, even sooner than other factors. Seeking to cut its reliance on Russia, which supplies more than one-fifth of its uranium, Congress passed a bill in December that would require the US to source a portion of its nuclear fuel domestically. The bill calls for 20 tonnes of HALEU — high-assay low enriched uranium fuel needed to run most advanced reactors in the country — to come from domestic sources by the end of 2027. It now awaits President Joe Biden’s signature.
Bank of America and Berenberg Bank said this week in separate research notes that continued tightness in the uranium market could push prices over $100 in coming days.
https://www.mining.com/uranium-jumps-to-15-year-high-as-top-miner-flags-shortfall/
You got it Lurch .....Everybody lovs a good run
YOU RANG ! hehe
Uranium stocks rise in latest metal trader craze
Might pick up some $URG types
Uranium price jumps to 15-year high as top miner flags shortfall
Cecilia Jamasmie | January 12, 2024 | 5:53 am Energy Markets Asia Uranium
Uranium jumps to 15-year high as top miner flags shortfall
State-controlled Kazatomprom mines uranium in Kazakhstan both independently and through joint ventures. (Image courtesy of Kazatomprom.)
Uranium prices jumped on Friday to an almost 15-year high after the world’s largest producer, Kazakhstan’s Kazatomprom (LON: KAP), warned it’s likely to fall short of its output targets over the next two years.
The miner cited shortages of sulfuric acid and construction delays at newly developed deposits as the main factors behind ongoing production challenges, which it said could persist into 2025. A detailed assessment of the potential impacts on output will be released in a trading update by Feb. 1, it added.
“Despite the ongoing active search for alternative sources of sulfuric acid supply, current forecasts indicate that the company may find it difficult to achieve 90% production levels compared to subsoil use contract levels,” Kazatomprom said in the statement.
Sulfuric acid is a favourite among producers to extract uranium from the raw ore due to its low-cost and efficiency for different types of ores.
Kazatomprom noted its guidance for next year could also be affected if supply snags continue throughout 2024 and if it isn’t able to comply with scheduled construction works.
The spot price of the radioactive metal has more-than doubled in 2023 and it is currently trading at $97.45 a pound — still far from the triple-digit figures achieved in 2007 and the fallout after the 2011 Fukushima disaster in Japan.
The price increase comes as 24 nations, including the United States, Japan, Canada, Britain and France pledged last month in Dubai at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change, known as COP28, to triple nuclear power capacity by 2050.
Uranium jumps to 15-year high as top miner flags shortfall
China, which wasn’t part of that promise, still leads global nuclear plant construction with plans to nearly double capacity to 100 gigawatts by the end of this decade. The Asian country has 22 of 58 plants being built worldwide.
Recent legislation in the US could also affect uranium prices, even sooner than other factors. Seeking to cut its reliance on Russia, which supplies more than one-fifth of its uranium, Congress passed a bill in December that would require the US to source a portion of its nuclear fuel domestically. The bill calls for 20 tonnes of HALEU — high-assay low enriched uranium fuel needed to run most advanced reactors in the country — to come from domestic sources by the end of 2027. It now awaits President Joe Biden’s signature.
Bank of America and Berenberg Bank said this week in separate research notes that continued tightness in the uranium market could push prices over $100 in coming days.
https://www.mining.com/uranium-jumps-to-15-year-high-as-top-miner-flags-shortfall/
You got it Lurch .....Everybody lovs a good run
YOU RANG !
Uranium stocks rise in latest metal trader craze
Might pick up some $URG types
Uranium price jumps to 15-year high as top miner flags shortfall
Cecilia Jamasmie | January 12, 2024 | 5:53 am Energy Markets Asia Uranium
Uranium jumps to 15-year high as top miner flags shortfall
State-controlled Kazatomprom mines uranium in Kazakhstan both independently and through joint ventures. (Image courtesy of Kazatomprom.)
Uranium prices jumped on Friday to an almost 15-year high after the world’s largest producer, Kazakhstan’s Kazatomprom (LON: KAP), warned it’s likely to fall short of its output targets over the next two years.
The miner cited shortages of sulfuric acid and construction delays at newly developed deposits as the main factors behind ongoing production challenges, which it said could persist into 2025. A detailed assessment of the potential impacts on output will be released in a trading update by Feb. 1, it added.
“Despite the ongoing active search for alternative sources of sulfuric acid supply, current forecasts indicate that the company may find it difficult to achieve 90% production levels compared to subsoil use contract levels,” Kazatomprom said in the statement.
Sulfuric acid is a favourite among producers to extract uranium from the raw ore due to its low-cost and efficiency for different types of ores.
Kazatomprom noted its guidance for next year could also be affected if supply snags continue throughout 2024 and if it isn’t able to comply with scheduled construction works.
The spot price of the radioactive metal has more-than doubled in 2023 and it is currently trading at $97.45 a pound — still far from the triple-digit figures achieved in 2007 and the fallout after the 2011 Fukushima disaster in Japan.
The price increase comes as 24 nations, including the United States, Japan, Canada, Britain and France pledged last month in Dubai at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change, known as COP28, to triple nuclear power capacity by 2050.
Uranium jumps to 15-year high as top miner flags shortfall
China, which wasn’t part of that promise, still leads global nuclear plant construction with plans to nearly double capacity to 100 gigawatts by the end of this decade. The Asian country has 22 of 58 plants being built worldwide.
Recent legislation in the US could also affect uranium prices, even sooner than other factors. Seeking to cut its reliance on Russia, which supplies more than one-fifth of its uranium, Congress passed a bill in December that would require the US to source a portion of its nuclear fuel domestically. The bill calls for 20 tonnes of HALEU — high-assay low enriched uranium fuel needed to run most advanced reactors in the country — to come from domestic sources by the end of 2027. It now awaits President Joe Biden’s signature.
Bank of America and Berenberg Bank said this week in separate research notes that continued tightness in the uranium market could push prices over $100 in coming days.
https://www.mining.com/uranium-jumps-to-15-year-high-as-top-miner-flags-shortfall/
You got it Lurch .....Everybody lovs a good run
YOU RANG !
2024 reveals a GOLD BEAR TRAP - LFTV Ep 155
Kinesis Money
40.7K subscribers
20,053 views Jan 12, 2024
In this week’s episode of Live from the Vault, Andrew Maguire shares his yearly outlook and provides a long-term analysis of what we should expect as 2024 trading begins - will we see a gold price over $2500 by the end of the year?
The precious metals expert examines the bullish drivers that could propel gold forward this year, including Russian-chaired BRICS developments, globally accelerating de-dollarisation and the impact of geopolitical escalations.
Ask your questions for Andy here: https://forum.kinesis.money/threads/q...