This week, the Virginia General Assembly will to take up proposed legislation to end the state's 31-year moratorium on uranium mining permits in what is expected to be a tight vote.
Uranium One Inc. (TSX:UUU) announced that it has agreed to sell itself to JSC Atomredmetzoloto (ARMZ) and Effective Energy NV, its affiliate, for C$2.86 per share, which amounts to a total of C$1.3 billion. ARMZ already owns 51.4 percent of Uranium One's common shares.
In this post-Fukushima world, uranium investors need to remember a key fact about the U3O8 spot price: utilities are not responsible for the recent noteworthy decline to just over $40 per pound — the lowest weekly level since March 2010, a full year before Fukushima.
Financial Post reported JPMorgan downgraded Cameco Corp. (TSX:CCO,NYSE:CCJ) and Uranium One Inc. (TSX:UUU) to neutral from overweight on the expectation that uranium prices will remain under $50 a pound.
Mining Weekly reported Uranium One's (TSX:UUU) says it unit in Tanzania will begin building its Mkuju River uranium mine.
Forbes reported Uranium One Inc (TSX:UUU) stocks crossed above their 200 day moving average of $2.61, changing hands as high as $2.62 per share.
Bloomberg reported the Emirates Nuclear Energy Corp. in theUnited Arab Emirates has awarded uranium supply contracts worth about $3 billion.
Reuters reported Uranium One Inc's (TSX:UUU) quarterly earnings fell 2 percent as it sold less uranium at lower prices.
The long-term contract uranium price climbed 2.5 percent, from $60.00 to $61.50 per pound, marking its first increase since the beginning of 2011.
Reuters reported Uranium One (TSX:UUU) saw lower profits in the first quarter of 2012 due to a lower overall uranium prices.
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