Select Vaccines ventures into African coal and uranium with acquisition

Select Vaccines (ASX: SLT) is launching itself into Africa’s coal and uranium sectors with the gaining of four highly prospective and potentially large scale coal and uranium projects in Tanzania.The company has entered a share sale concord with Indigo Metals to acquire all of the issued capital in two Mauritian companies and their subsidiaries, which own 40 looking at licences in Tanzania.

The licences build up the Mhukura Coal Project, the Rukwa Basin Coal Project, the Ruhuhu Coal Project and the Selous Coal Project.The projects are situated in a region that hosts Intra Energy Corporation’s (ASX: IEC) 251 million tonne Ngaka Basin Project, close to the Ruhuhu Basin, and Edenville Energy’s (AIM: EDL) tenements in the Rukwa Coalfields, where drilling has exposed evidence of thickening to the north of the basin.

Tanzania has not been thoroughly in the past explored for coal or uranium. The majority of the very prospective Karoo stratigraphry, that is known to host world class deposits in neighbouring countries, have never been drilled within Tanzania in most places.

Inuit open to uranium mining

A self-governing Inuit territory in northern Canada has lifted a moratorium on uranium mining, opening the door to a likely mining boom, but analyst say low uranium prices could hamper mine development in the remote region.The Nunatsiavut government, a regional assembly in place of the Inuit people of Labrador on Canada's North Atlantic coast, voted to lift the three-year moratorium on uranium mining and milling on Inuit lands.

The region hopes to be a focus for investment and jobs to the small communities around the uranium-rich Central Mineral Belt in the territory of Newfoundland and Labrador.But analysts say the companies owning looking at projects in the region will face numerous challenges, including a lack of infrastructure and difficulty financing large and exclusive uranium projects.

Australian miner Paladin Energy, which owns the Michelin project in the district said Thursday it tactics to restart exploration in mid-2012, with drilling seen in the third quarter.The Michelin project has a deliberate and indicated resource of 83.8 million pounds and cover six part deposits.

State royalty plan hits Toro hopes for uranium project

The Adelaide-based junior said yesterday the ecological assessment on its Wiluna project would be open for public comment from Monday, which would build it the first of Western Australia's new uranium projects to achieve that important milestone.

But the news was overshadowed by Mines Minister Norman Moore announce the condition would initiate a 5 per cent royalty on uranium and magnetite iron ore -- a lower grade than the more widely known Pilbara ore.Mr Moore said it was predictable the state would receive about $10 million in 2013-14 and $28m in 2014-15 beginning uranium royalties.

"Uranium mining presents a significant occasion to further diversify WA's resources sector and also make a significant prospect contribution to the state's economyPremier Colin Barnett lifted the state's longstanding ban on uranium mining when he take office in 2008, which has seen increased interest within the sector.

Cameco shops for uranium, eyes Africa

Canadian uranium producer Cameco Corp is shopping for growth-stage uranium projects and will consider opportunities in Africa, the company's received chief executive told Reuters on Wednesday.Cameco is "scouring the world" for mine that might be in production within 10 years, said Tim Gitzel, who will take above the top job at the company on Friday.

That global search might take the Saskatoon, Saskatchewan-based miner to Africa, the only major uranium-producing area in the world where it does not have operations. Cameco produced about 22.8 million pound of uranium in 2010 from projects in North America and Kazakhstan.

"We wouldn't hesitate to go to Africa if we can find a project that made sense to Cameco," said Gitzel, who effort for French nuclear giant Areva before joining Cameco as chief operating officer in 2007.