• admin@yypxai.com
Blog
Uranium recovery

Uranium recovery

The uranium market, which has been in decline since the tragic accident at Japan’s Fukushima nuclear power plant, has begun to recover. Uranium is a radioactive element that is not harmful to human health in nature and normally emits very low levels of radiation. The demand, supply and future trends of the world uranium market are expected to increase by 2030. This time , we are highlighting uranium recovery in our “WORLD ECONOMY” section .

According to Mining, in 2021, for the first time, the price of uranium will exceed $ 30 per pound. This is due to the fact that uranium producers have increased their raw material reserves, production has increased, and new nuclear power plant projects have become more active.

Some experts believe that the transition to clean energy would not be possible without the involvement of nuclear energy. The European Union’s determination of nuclear energy as a sustainable source of energy is expected to increase investment in the uranium sector.

China unveiled its 14th annual plan in March, announcing its goal of supporting the uranium sector. In particular, the country plans to increase its current capacity to 48 GW of nuclear power to 70 GW by 2025.

Global uranium companies have announced plans to buy commercially available uranium for strategic purposes. For example, the Canadian corporation Denison has agreed to purchase 962 tons of uranium on the commercial market for long-term investment. Uranium Energy Corp. of the United States has signed an agreement to purchase 200 tons. Yellow Cake plc, a UK-listed company, has announced that it will make further acquisitions under an agreement with Kazatomprom.

The Wheeler River, which owns 90 percent of Denison, has entered into a strategic financing agreement with Cantor Fitzgerald Canada Corporation to purchase yellow powder worth $ 75 million as part of a long-term investment in uranium projects and stockpiling of finished raw materials.

The company hopes that the agreement will increase the flexibility of long-term contracts with potential customers, fulfill the supply obligations, and sell the products of the mine in case of commissioning of the Wheeler River uranium deposit.

Uranium Energy Corp (UEC) has agreed to buy 200 tonnes (£ 400,000) of yellow powder for $ 10.9 million, taking advantage of a unique opportunity to purchase yellow powder below production costs. The acquisition will help boost uranium prices, strengthen UEC’s balance sheet, build strategic reserves to improve future marketing operations, and increase the production capacity of the Wyoming project in Texas.

Yellow Cake plc has announced that it will buy $ 100 million worth of yellow powder from Kazakhstan’s Kazatomprom in 2021 and deliver 1,750 tons to Ontario, Canada in April-August this year.

As of March 2021, Yellow Cake plc purchased 220 tons of yellow powder for $ 12 million ($ 54.5 per kg of U3O8, which is lower than the March average market price).

Australian-listed Boss Resources has agreed to buy 625 tonnes of yellow powder (a total of A $ 60 million) on the commercial market at an average price of $ 66.55 per kilogram. He said the commissioning of the Honeymoon mine in South Australia (by underground leaching) would help strengthen the company’s financial position, make financing more flexible and reduce future supply risks.

Uranium Royalty Corp (URC) agreed in April to buy 174 tonnes of yellow powder for $ 63.42 per kg, valued at $ 10 million. The unit price is $ 5 cheaper than the commercial market price.

The companies are buying yellow powder at low prices on the commercial market as part of a common strategic goal of increasing raw material reserves, ensuring supply stability during the commissioning of the mine, fulfilling contractual obligations and being flexible in project financing.

In 1789, the German chemist Martin Kloport discovered uranium while studying a piece of rock brought from St. Joachimstal’s mine. The radioactive properties of uranium were discovered in 1896 by French scientist Henry, who observed that invisible radiation from uranium gradually emitted and spontaneously affected the photographic plate. It was a manifestation of natural radiation that was unknown to mankind until then.

URANIUM MINING IS ECONOMICALLY BENEFICIAL

In order to be competitive in the world, our country has been studying this sector for more than 50 years and has started issuing uranium exploration licenses by the decision of the Council of Ministers. Our country has dozens of uranium deposits, more than 100 occurrences and more than a thousand mineralized points.

If they mine uranium themselves, they will use twice as cheap nuclear fuel. In Mongolia, there are veins of uranium occurrence from the Dornod Mardai deposit to Dornogovi, as well as Dariganga soum of Sukhbaatar aimag and Arkhangai aimag. In addition to uranium ore, the coal contains uranium.

Uranium was found at the Bumbat coal deposit in Sukhbaatar aimag. The uranium deposits of Dornod, Mardaiin Gol, and Gurvan Bulag are strategically important deposits located in a single ore node, and the uranium ore reserves of these deposits, which cover a total area of ​​53,807 hectares, are about 27 million tons.

There are several uranium deposits in Dornogovi aimag, the largest of which is the Dulaan Uul deposit, and uranium ore is a roll-front deposit accumulated in sedimentary rocks.

Many argue that uranium mining and even the construction of nuclear power plants is our future.

Uranium mining in Mongolia has economic benefits, ranging from job creation and export. Experts say that only ecological risks should be taken into account. However, experts say that if uranium is mined deep into the ground through sulfuric acid pipelines, groundwater could be contaminated. Therefore, it is important to conduct mining properly. Exploration for uranium deposits in Mongolia began in 1973.