Latest news with #Orano
Canada Standard
11 hours ago
- Business
- Canada Standard
Canadian gold miner seeks mediation in African dispute
Barrick has said its employees remain in detention in Mali, and exports from its mine have been blocked for months Canadian company Barrick Mining has appealed to the World Bank's arbitration tribunal to settle a legal dispute with Mali. The miner currently risks losing control of its gold operations in the West African country, Reuters reported on Friday. The request to the International Centre for Settlement of Investment Disputes (ICSID) comes ahead of a Malian court ruling scheduled for June 2 on the government's application to place the mine under provisional administration. Barrick's Loulo-Gounkoto complex, which produced nearly 700,000 ounces of gold in 2023, has been closed since January after Mali seized three tons of gold from the mine over alleged unpaid taxes - a claim Barrick denies. According to a filing on the ICSID's website, the mining giant is seeking "provisional measures" to prevent further actions by the Sahel state's military leadership that could exacerbate the dispute. The former French colony is one of Africa's top gold producers, with large-scale operations such as the Loulo-Gounkoto mines, which are 80% owned by Barrick and 20% by the Malian government. Since taking power in a coup in 2020, the new leadership in Bamako has sought more revenue from the sector to boost state income amid rising gold prices. In 2023, a new mining code was introduced allowing the military government to claim a stake of up to 30% in any new projects. READ MORE: Mali and Canadian miner fail to resolve payment dispute Bloomberg Barrick, one of the world's largest gold producers, has been operating in Mali for nearly three decades and insists it has complied with Malian law and its binding mining conventions. Tensions escalated in late 2024 when four Barrick executives were detained and a warrant was issued for CEO Mark Bristow, all on charges of money laundering and financing of terrorism - allegations the company says are untrue. Negotiations between the two sides recently collapsed after Mali demanded a lump-sum payment of 125 billion CFA francs ($197 million) in unpaid revenues, while Barrick proposed a structured payment plan. Earlier this week, the mining firm issued a statement claiming that the Malian government's attempt to "interfere with Loulo-Gounkoto's operations is without precedent or lawful justification." "This latest escalation by the Malian government follows the continued unlawful detention of several Barrick employees - now held for over five months - and the ongoing blockage of gold exports from the complex," the company said. Barrick is not the only Western company under pressure in the Sahel region. In neighboringNiger, French nuclear fuel firm Orano lost its license to the Imouraren uranium mine in 2024. The military government also seized its subsidiary Somair later that year. Orano has taken legal action against Niger's government, citing illegal detention and property confiscation. (
Yahoo
a day ago
- Business
- Yahoo
New uranium enrichment facility to bring nuclear advancement to Oak Ridge
OAK RIDGE, Tenn. (WATE) — Governor Bill Lee and Senator Marsha Blackburn were in East Tennessee Thursday, celebrating a new multi-billion dollar uranium enrichment facility that is coming to Oak Ridge. The development is called Project IKE, and is set to bring one of the largest uranium enrichment facilities in the country to an area already well-known for its contributions to nuclear power. State and local leaders joined the Orano group as they announced they will be opening offices in the area and will soon begin construction on the new facility. 'In my opinion, Orano will continue to add to the legacy of greatness and accomplishments, not only in Oak Ridge, but in our state,' said Oak Ridge Mayor Warren Gooch. Man charged after brother fatally stabbed, dog drowned in Sevier County Local leaders like Anderson County Mayor Terry Frank said this will put Oak Ridge back on the map 'In terms of what it means for our area, it just means prosperity, increased growth, a lot of good things for the people who live and work here,' said Frank. While the development will bring over 300 jobs to Oak Ridge and its surrounding counties, state leaders stressed how it will also help meet America's need for more nuclear energy. 'America is learning that we are staring down the barrel of an energy crisis in this country, that is in part being created, in a good way, because of the advancement of AI technology,' said Governor Bill Lee. 'We cannot afford to lose the war, and in order to do that, we cannot afford to lose the energy battle, and in order to win that battle, we have to be leaders in the nuclear energy going forward.' Leaders like Governor Lee and Senator Marsha Blackburn said companies like Orano will push the US in the right direction. 'Because of what we have with Oak Ridge and with TVA, there is no excuse for us not to lead the way,' said Blackburn. Inspector finds off temperatures, no sanitizer at Chinese restaurant in Morristown With this new uranium enrichment facility, Frank added it will be an investment not only in nuclear energy, but also in the community it is built in. 'Its drawing national attention, It's drawn international attention, other companies are saying, you know what? We need to take another look here,' she said. 'We're getting more locations, a lot of industry interest, so it's really been a spark.' While the event was for the opening of the offices in Anderson County, the uranium enrichment center will be located in Roane County. According to Orano, operations at the facility won't start for a while, but they say they could begin in the early 2030's. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Cision Canada
3 days ago
- Business
- Cision Canada
GoldMining Updates NI 43-101 Technical Report for the Rea Uranium Project; A Large, Drill Permitted Claim Package in the Western Athabasca Basin, Canada
The Rea Project is owned 75% by the Company and 25% by Orano Canada Inc. (" Orano") (for location see Figure 1). The Company's proposed metallic minerals exploration application for the Project has been reviewed by the Alberta Energy Regulator and authorized as an approved exploration program (see May 1, 2025 news release). The large land package of approximately 125,328 hectares surrounds Oranoꞌs high-grade Dragon Lake prospect at its Maybelle River project. Recently discovered uranium deposits located 60 km to the southeast of the Rea Project include Paladin Energy Limited's (" Paladin") Triple R deposit and NexGen Energy Inc.'s (" NexGen") Arrow deposit, which are currently in development. The qualified person has been unable to verify the adjacent-property information, and therefore, the information is not necessarily indicative of the mineralization that is the subject of the Technical Report. Highlights: The Rea Uranium Project was acquired by GoldMining as part of its acquisition of Brazilian gold properties in 2013. The Company plans to continue to advance the Project given the increasing importance of uranium in the energy sector. Uranium is expected to play a lead role in the growing demand for cleaner energy sources of electricity. The Athabasca Basin is home to some of the world's richest uranium mines and highest-grade uranium deposits and is currently estimated to contribute approximately 15% of the annual world-wide uranium production. The Rea Project surrounds Orano's Maybelle River project that hosts shallow (<200 metres below surface) uranium mineralization at the Dragon Lake deposit. The geological structure hosting Dragon Lake (the Maybelle River Corridor – see Figure 2) is projected to extend over an additional 11 kilometres of strike across the northern Rea Project. Apart from the adjacent Maybelle River project, the western Alberta portion of the basin has, by comparison, had minimal exploration to date. The Project is in a relatively underexplored area that has seen renewed exploration activity as a result of recent near surface, basement hosted, high-grade uranium discoveries by NexGen and Paladin in the nearby Patterson Lake area (see Figure 1). GoldMining has identified 70 kilometres of prospective trends in three distinct corridors for future exploration: Maybelle River, Net Lake, and Keane Lake. The Company's proposed uranium exploration program at the Rea Project has been approved to proceed by the Alberta Energy Regulator. Alastair Still, CEO of the Company, stated: "We are pleased to announce the updated Technical Report for our prospective Rea Uranium Project which is another important step to advancing to exploration at the Project and is consistent with our broader strategy of seeking to unlock further value for our shareholders across our asset portfolio. As the importance of uranium grows as a fuel for increasing clean energy demands, we continue to work with local stakeholders to develop a sustainable phased approach to exploration and we remain excited about the potential to daylight value from this asset for our shareholders." Rea Uranium Project The Project is located on the western edge of the Athabasca Basin in northeastern Alberta, about 45 kilometres west-southwest of Cluff Lake and approximately 185 kilometres north-northwest of Fort McMurray. The Rea Project consists of 16 Alberta Rock-Hosted Mineral Permits (permits), totaling 125,328 hectares. Access to the Rea Project is by helicopter or fixed-wing aircraft year-round or winter road that connects Fort McKay with Fort Chipewyan from January to March of each year depending on winter conditions. There are some access roads on the Project that can be used for all-terrain vehicles. The largest nearby town of Fort McMurray services mineral exploration and mining in the district. The rocks underlying the western part of the Athabasca Basin comprise complexly deformed and strongly metamorphosed Archean to Paleoproterozoic crystalline basement rocks of the Lloyd Domain (Careen Lake Group) of the Rae geological province. The basement rocks comprise a dominantly supracrustal package of psammo-pelitic gneiss, psammitic gneiss, pelitic gneiss, and garnet diatexite with subordinate metaquartzite, amphibolite, and ultramafic rock that are currently assigned to the Careen Lake Group. The supracrustral rocks were later intruded by significant amounts of granodiorite, quartz diorite, monzodiorite, and minor gabbro that, collectively, are termed the 'quartz diorite suite'. In 2005, the Rea Project land package surrounding the Maybelle River project was acquired by BGC, which was subsequently acquired by GoldMining in 2013. With respect to mineralization, several targeted corridors for future exploration have been delineated by GoldMining based on historical geophysical conductors, surficial geochemical anomalies, and drillholes that encountered subsurface zones with uranium. In the southwest part of the Rea Project, the Net Lake corridor comprises a prospective sandstone unit within which historic drilling yielded uranium concentrations of up to 48 ppm total uranium ("U"), as well as trace amounts of graphite in the basement rock. In the north portion of the Project historic drilling along the extension of the Maybelle River corridor yielded 87 ppm total U over 1 metre. Additionally, drill core along the Maybelle River corridor intersected clay alteration, breccia zones and dravite, which represent features associated with unconformity uranium deposits elsewhere in the Athabasca Basin. GoldMining commissioned Fathom Geophysics to reprocess and interpret historical airborne geophysical data. As a result of the work, over 70 kilometres of prospective trends were identified in three distinct corridors for future exploration: Maybelle River, Net Lake, and Keane Lake. These corridors exhibit geophysical signatures that are interpreted as graphite-bearing shear zones with potential to host unconformity-style uranium mineralization (see Figure 2). For further information on the Rea Project please refer to the Technical Report, a copy of which is available under the Company's profile at Qualified Persons The Technical Report was prepared by Roy Eccles, P. Geol., of APEX Geoscience Ltd., who is independent of GoldMining, the Rea Project, and is a qualified person as defined by Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101"). Mr. Eccles has reviewed, verified and approved the technical information related to the Technical Report in this news release. Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of and approved the scientific and technical information contained herein. Mr. Smith is a qualified person as defined in NI 43-101. About GoldMining Inc. The Company is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, the Company now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO), and over 26 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company's expectations regarding the Project, planned work at the Project and expectations regarding demand for uranium and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law.
Cision Canada
4 days ago
- Business
- Cision Canada
Uranium Royalty Corp. Acquires Royalty on Forum Energy Metals Aberdeen Uranium Project in Canada
VANCOUVER, BC, May 27, 2025 /CNW/ - Uranium Royalty Corp. (NASDAQ: UROY) (TSX: URC) (" URC" or the " Company") is pleased to announce that it has entered into an agreement to acquire a new royalty on the Aberdeen Uranium Project in Nunavut, Canada (the " Project") operated by Forum Energy Metals Corp. (" Forum"). Highlights: 2.0% Gross Overriding Royalty Acquired for CAD$1 Million: URC will acquire the royalty for a cash payment of CAD$1,000,000 at closing, which is scheduled to occur by the end of May 2025. The transaction will be funded from cash on hand. Forum retains the right to repurchase 0.5% for CAD$1,000,000 within six months of a successful pre-feasibility study; this right expires seven years after issuance. Strategic Location: Aberdeen is directly adjacent to the west of the Orano-operated Kiggavik Project, which hosts over 132 million pounds of U₃O₈ in Indicated and Inferred Resources, making it one of the largest undeveloped uranium projects globally. (1) Highly Prospective Ground: Aberdeen covers more than 95,000 hectares in the underexplored Thelon Basin—Canada's emerging analogue to the Athabasca Basin in Saskatchewan. Drilling to date has returned high-grade results, including: 1.15% U₃O₈ over 2.4 metres 0.62% over 17.9 metres 0.11% U₃O₈ over 35.3 metres (2) (1) Based on Orano's Annual Activity Report for the year ended December 31, 2024, available on Orano's website. (2) See Forum news release titled, "Forum Drilling Extends Uranium Mineralization at the Tatiggaq Deposit, Aberdeen Uranium Project, Nunavut", issued on November 26, 2024, and available under Forum's profile on SEDAR+. The Aberdeen Project The Project is an Exploration stage project located on the northeast edge of the Thelon Basin in Nunavut Territory, approximately 100 km west of the Hamlet of Baker Lake. The Project is wholly owned and operated by Forum. The Project covers approximately 95,519 hectares and is located directly adjacent to the west of the Orano operated Kiggavik advanced uranium project. The Aberdeen Royalty The Royalty consists of a 2.0% gross revenue royalty on the Project. Forum may buy-back one quarter (0.5%) of the Royalty upon payment to URC of $1,000,000 for a period of six months following the announcement of a successful pre-feasibility study. This option expires seven years after the Royalty is issued. About Uranium Royalty Corp. Uranium Royalty Corp. is the world's only publicly traded uranium-focused royalty and streaming company. URC provides investors with uranium commodity price exposure through strategic acquisitions in uranium interests, including royalties, streams, debt and equity in uranium companies, as well as through holdings of physical uranium. The Company is well positioned as a capital provider to an industry needing massive investments in global productive capacity to meet the growing need for uranium as fuel for carbon-free nuclear energy. URC has deep industry knowledge and expertise to identify and evaluate investment opportunities in the uranium industry. The Company's management and the Board include individuals with decades of combined experience in the uranium and nuclear energy sectors, including specific expertise in mine finance, project identification and evaluation, mine development and uranium sales and trading. About Forum Energy Metals Corp. Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin in Saskatchewan and the Thelon Basin in Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho. Note on Technical Disclosure Darcy Hirsekorn, the Company's Chief Technical Officer, has supervised the preparation of and reviewed the technical information contained in this release. He holds a in Geology from the University of Saskatchewan, is a qualified person as defined in National Instrument 43-101, and is registered as a professional geoscientist in Saskatchewan. Unless otherwise indicated, the scientific and technical information herein regarding the Project has been derived from Forum's Management's Discussion and Analysis for the year ended November 30, 2024, and Forum's other public disclosures, copies of which are available under its profile on SEDAR+. As a royalty holder, the Company has limited, if any, access to the properties subject to its interests. The Company generally relies on publicly available information regarding these properties and related operations and generally has no ability to independently verify such information. In addition, such publicly available information may relate to a larger property area than that covered by the Company's interests. Forward Looking Statements Certain statements in this news release may constitute "forward-looking information" and "forward looking statements", as defined under applicable securities laws, including statements regarding the expected closing of the acquisition of the Royalty and expectations regarding the Project. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking information. Statements constituting forward-looking information reflect the current expectations and beliefs of the Company's management. These statements involve significant uncertainties, known and unknown risks, uncertainties, and other factors and, therefore, actual results, performance or achievements of the Company and its industry may be materially different from those implied by such forward-looking statements. They should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from such forward-looking information, including, without limitation, any inability to satisfy the conditions to the transaction announced herein, risks inherent to royalty companies, uranium price volatility, risks related to the operators of the projects underlying the Company's existing and proposed interests and those other risks described in filings with Canadian securities regulators and the U.S. Securities and Exchange Commission. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking information and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law. SOURCE Uranium Royalty Corp.
Yahoo
4 days ago
- Business
- Yahoo
Uranium Royalty Corp. Acquires Royalty on Forum Energy Metals Aberdeen Uranium Project in Canada
VANCOUVER, BC, May 27, 2025 /CNW/ - Uranium Royalty Corp. (NASDAQ: UROY) (TSX: URC) ("URC" or the "Company") is pleased to announce that it has entered into an agreement to acquire a new royalty on the Aberdeen Uranium Project in Nunavut, Canada (the "Project") operated by Forum Energy Metals Corp. ("Forum"). Highlights: 2.0% Gross Overriding Royalty Acquired for CAD$1 Million: URC will acquire the royalty for a cash payment of CAD$1,000,000 at closing, which is scheduled to occur by the end of May 2025. The transaction will be funded from cash on hand. Forum retains the right to repurchase 0.5% for CAD$1,000,000 within six months of a successful pre-feasibility study; this right expires seven years after issuance. Strategic Location: Aberdeen is directly adjacent to the west of the Orano-operated Kiggavik Project, which hosts over 132 million pounds of U₃O₈ in Indicated and Inferred Resources, making it one of the largest undeveloped uranium projects globally. (1) Highly Prospective Ground: Aberdeen covers more than 95,000 hectares in the underexplored Thelon Basin—Canada's emerging analogue to the Athabasca Basin in Saskatchewan. Drilling to date has returned high-grade results, including: 1.15% U₃O₈ over 2.4 metres 0.62% over 17.9 metres 0.11% U₃O₈ over 35.3 metres (2)(1) Based on Orano's Annual Activity Report for the year ended December 31, 2024, available on Orano's website.(2) See Forum news release titled, "Forum Drilling Extends Uranium Mineralization at the Tatiggaq Deposit, Aberdeen Uranium Project, Nunavut", issued on November 26, 2024, and available under Forum's profile on SEDAR+. The Aberdeen Project The Project is an Exploration stage project located on the northeast edge of the Thelon Basin in Nunavut Territory, approximately 100 km west of the Hamlet of Baker Lake. The Project is wholly owned and operated by Forum. The Project covers approximately 95,519 hectares and is located directly adjacent to the west of the Orano operated Kiggavik advanced uranium project. The Aberdeen Royalty The Royalty consists of a 2.0% gross revenue royalty on the Project. Forum may buy-back one quarter (0.5%) of the Royalty upon payment to URC of $1,000,000 for a period of six months following the announcement of a successful pre-feasibility study. This option expires seven years after the Royalty is issued. About Uranium Royalty Corp. Uranium Royalty Corp. is the world's only publicly traded uranium-focused royalty and streaming company. URC provides investors with uranium commodity price exposure through strategic acquisitions in uranium interests, including royalties, streams, debt and equity in uranium companies, as well as through holdings of physical uranium. The Company is well positioned as a capital provider to an industry needing massive investments in global productive capacity to meet the growing need for uranium as fuel for carbon-free nuclear energy. URC has deep industry knowledge and expertise to identify and evaluate investment opportunities in the uranium industry. The Company's management and the Board include individuals with decades of combined experience in the uranium and nuclear energy sectors, including specific expertise in mine finance, project identification and evaluation, mine development and uranium sales and trading. About Forum Energy Metals Corp. Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin in Saskatchewan and the Thelon Basin in Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho. Note on Technical Disclosure Darcy Hirsekorn, the Company's Chief Technical Officer, has supervised the preparation of and reviewed the technical information contained in this release. He holds a in Geology from the University of Saskatchewan, is a qualified person as defined in National Instrument 43-101, and is registered as a professional geoscientist in Saskatchewan. Unless otherwise indicated, the scientific and technical information herein regarding the Project has been derived from Forum's Management's Discussion and Analysis for the year ended November 30, 2024, and Forum's other public disclosures, copies of which are available under its profile on SEDAR+. As a royalty holder, the Company has limited, if any, access to the properties subject to its interests. The Company generally relies on publicly available information regarding these properties and related operations and generally has no ability to independently verify such information. In addition, such publicly available information may relate to a larger property area than that covered by the Company's interests. Forward Looking Statements Certain statements in this news release may constitute "forward-looking information" and "forward looking statements", as defined under applicable securities laws, including statements regarding the expected closing of the acquisition of the Royalty and expectations regarding the Project. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking information. Statements constituting forward-looking information reflect the current expectations and beliefs of the Company's management. These statements involve significant uncertainties, known and unknown risks, uncertainties, and other factors and, therefore, actual results, performance or achievements of the Company and its industry may be materially different from those implied by such forward-looking statements. They should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from such forward-looking information, including, without limitation, any inability to satisfy the conditions to the transaction announced herein, risks inherent to royalty companies, uranium price volatility, risks related to the operators of the projects underlying the Company's existing and proposed interests and those other risks described in filings with Canadian securities regulators and the U.S. Securities and Exchange Commission. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking information and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law. View original content: SOURCE Uranium Royalty Corp. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
