Source Press: Canada Seen as Major Supplier of Uranium Ore Amidst Rising Prices.TORONTO -- Last week, a U.S.- based research firm in Florida predicted that uranium was poised to rise above $100 per pound this year and according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Weiss Research's Sean Brodrick, Canada is seen as a major supplier of that ore as the demand for nuclear fuel grows amidst an increase in the number of power plants being developed in various countries. "I see increasing investor interest in this sector," said Brodrick. "Canada has much in the way of mining expertise," Brodrick added, when describing Canada's active uranium mining Uranium mining is the process of extraction of uranium ore from the ground. As uranium ore is mostly present at relatively low concentrations, most uranium mining is very volume-intensive, and thus tends to be undertaken as open-pit mining. industry. Brodrick called Canada a "mining hotbed hotbed, low, glass-covered frame structure for starting tender plants. It differs from a cold frame only in that the soil is heated—either artificially as by underground electric wiring or steampipes, or naturally with partially fermented stable manure, which " going forward. The worldwide supply and demand gap for uranium reached 68.5 million pounds in 2005 and the Florida-based research firm says those figures in 2006 should be much higher, without estimating demand this year. Brodrick explained that Russia is planning on building 42 nuclear power plants while Japan has plans for 11 plants by 2010 and China says it will be constructing 30 nuclear plants by 2020, with an ever-increasing demand for more uranium fuel because of it. Some of the factors that could affect uranium prices this year, Brodrick explained, were related to Cameco Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CCO (Chief or Corporate Compliance Officer) The executive person in charge of compliance issues, regulatory requirements, internal controls and managing audits within an enterprise or organization. )(NYSE NYSE See: New York Stock Exchange :CCJ See citizen journalism. ) cigar lake uranium project in Saskatchewan, which had major flooding last October that shut in production. Cameco said Thursday that six of the 14 drill holes planned for reinforcing and sealing off the water inflow area at its Cigar Lake mine are now complete. Cameco is the world's largest uranium producer. The company says it may be back in production at its Cigar Lake mine in the second quarter, but Brodrick told Source Press U.S. news affiliate, AXcess News, on Friday that it could take even longer, saying that an un-named source said water problems at the Cigar Lake mine were worse than originally thought. Bayswater Uranium Corp. (TSX.V:BAY)(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BAYFF) said Tuesday that it was undertaking a $20 million financing to further exploration and development on its Saskatchewan property in the Athabasca Basin The Athabasca Basin is a region of Northern Saskatchewan and Alberta Canada that is best known as the world's leading source of uranium. It currently supplies about 30% of the world's uranium. The basin is located just to the south of Lake Athabasca. and other regions. Bayswater is the only Canadian uranium mining company with holdings in the three major uranium ore belts in Canada and the funds being raised will be used to further development in all three regions. Thursday, Bayswater announced that it was conducting airborne surveys on its extensive Saskatchewan properties. The deep-penetrating electromagnetic and magnetic surveys represent the first use of current geophysical technology over most of this highly prospective region, Bayswater Uranium Corp. said. Note to Editors: "News Features" are stories provided to publishers copyright-free for print or online display at no charge. All we ask is that publishers include our byline (Source Press) as the source, and a link to our Web site: http://www.sourcepress.com. If you are interested in displaying our news on a regular basis, please contact our U.S. affiliate, AXcess News, editorial department at: 775-841-5368. |
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