ARMZ of Russia might become the third uranium producer

11/06/2010 09:08 Electricity Market


ARMZ, the state-controlled miner in Russia, the country with 1/10 of the world’s uranium reserves, intends to expand outside the country, aiming to become one of the third major producers in the world. It signed a transaction on Tuesday of acquiring the majority of shares in proportion of 51% in Uranium One, Canada.

The deal will lead to the building of new nuclear plants, by creating a durable industry, largely seen as another option to reduce hydrocarbon sources. In 2009, ARMZ was the fifth main uranium producer in the world, after Rio Tinto, Cameco, Kazatomprom and Areva, according to some officials of the company, while Uranium One was on the eights position. ARMZ has already operations in two mines in Russia, with the third one under construction, holding as well licenses for numerous uranium deposits, counting the Elkon fields in Yakutia. Uranium One manages some projects in the republic of Central Asia, having as well assets in Kazakhstan, the Unites Stated and Australia. Both firms will generate about 7,130 tonnes this year, Uranium One contributing with 2,000 tonnes, however by 2011, it is expected that the Canadian group increase the production by 30%.

UK wind powers to new generation high

10/12/2019 09:11:00

The UK generated a record of over 16GW of electricity from wind power on 8 December, according to RenewableUK citing National Grid data.


Daily (09.12.2019): Brent posts a 3.1% weekly gain following OPEC decision to reduce output target

09/12/2019 12:49:00

Crude oil prices soared on Friday as OPEC+ agreed in Vienna to extend output cuts by 500,000 barrels per day in early 2020. Consequently, Brent crude rallied by $1, or 1.6%, to settle at $64.39. It recorded a weekly hike of 3.1%. U.S. WTI crude rose by 77 cents, or 1.3%, to $59.20 per barrel. For the week, WTI jumped 7.3%, after a 4% rise reached on Wednesday after data indicated sharp declines in U.S. crude inventories.


Vestas books 137MW US tour

09/12/2019 09:06:00

Vestas has received a turbine order totalling 137MW from an unnamed client for an undisclosed wind farm in the US.