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.

AP Exclusive: Czechs see future in uranium

The AP has well-read that other nations are also plan similar ventures: EU countries such as Sweden are exploring their uranium deposits at the same time as others, as well as Hungary, have sought the Czechs' advice. Fact-finding mission from as far afield as Argentina, Brazil, China and Vietnam are normal visitors, with dozens of expert sent to the School of Uranium manufacture at the Czech state-run uranium monopoly Diamo.Some are revolted at the project, mindful of the Communist era in then-Czechoslovakia when about 40,000 undefended political prisoners were compulsory to work in the uranium mines. At least 500 died — a few trying to escape, others driven to suicide by cruel conditions. Many others unknowingly constricted cancer from radiation exposure.

Czechoslovakia became the sixth major producer of uranium in the world as it fed the Soviet nuclear program through the Cold War. Starving and badly prepared political prisoners were sent into the mines by the ruling Communists."Given the knowledge we have with uranium mining, it's not a good idea," said Bed rich Mold an, manager of Prague's Charles University Environment Center. "It poses serious risks."Jan Rove sky of Greenpeace called the arrangement "absurd, of no use and damaging for the environment."But much expert point to original technologies and severe rules on mining and say there's no cause for alarm.

Robert Vance of the Paris-based Nuclear Energy group of the Organization for financial Co-operation and Development said he can recognize why people "have a bad emotion about it," but added: "Today, it can be mined carefully and be managed safely," citing work in Canada and Australia. The uranium traditionally has been extract here by methods that involve pumping sulfuric acid into uranium ore to break up the radioactive materials. In former mines close to the northern town of Straz pod Ralskem, almost 5 million metric tons of acid were pumped in a straight line into the ground over decades, causing large-scale environmental injure and contaminating some 370 million cubic meters of underground drinking water. Officials at Diamo say the cleaning it started in 1996 will not be finished earlier than 2037 at an expected cost of 50 billion koruna ($3 billion).

US frightened by Russian competitors

The US Congressmen have opposed the sale of an American uranium manufacture plant to a Russian company in what can be described as defying the image of America as a free trade nation and working double standards when it comes to their interests. A number of important members in the US House of Representatives wrote a letter to the US Treasury Secretary Timothy Geithner saying that selling a uranium mine in Wyoming to a Russian company exposed US national security because the uranium might land in Iran, which has been cooperating with Russia for years.

A mere declare of “Iran” sends most Americans into panic. For this cause, the United States resorts to it whenever needed. Vladimir Averchev, a member of Russia’s Foreign and protection Policy Council, comments: "The Congressmen see Russia’s nuclear cooperation with Iran as running counter to US national welfare, the expert says. And some politicians believe that Russia is not close sufficient to the US to be allowed into an industry which is of vital importance to the US national security." What the Congressmen have in mentality is the nuclear power plant in Bushehr. But the plant is under tough control from the IAEA and uranium is supplied in quantities essential to keep the plant operating.

The attempt by the US Congressmen to block the deal between the Canadian “Uranium One” and a Rosatom branch is intended to prevent Russia from entering the American nuclear energy market. “Uranium One” owns 100 percent of distribute in the Wyoming mine. If the deal goes ahead, the Russian company will get a mass stake in the US’ largest uranium pit and obtain a license for one fifth of the uranium produced in the US. The US demonstrated a alike pattern of behavior in the motor industry about a year ago, when it vetoed the sale of GM-owned Opel and Saab to Russian shareholders. Clearly, politicians in the US dread healthy opposition and Russia’s growing positions on the international market. Competition in the US is concentrated to zero when it is seen as posing a threat to the country’s well-being.