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The paper added, “India is the fourth-largest energy consumer in the world and is expected to triple its electricity supply within the next 25 years.”
Cameco senior VP Ken Seitz told media he expects India to increase its uranium imports nearly four-fold over the next 10 years.
Japanese returning to uranium
Despite Fukushima, Japan still wants Canadian uranium. Tomio Hamai, VP of exploration and development for JCU Exploration, reaffirmed his country’s reliance on nuclear energy, the Nunatsiaq News reported on Friday. Speaking at the Nunavut Mining Symposium in Iqaluit, he said all the anticipated production of the territory’s Kiggavik project could go to Japan. JCU holds 33.5% of the project in a joint venture with AREVA Resources and Korea’s DAEWOO Corp.
JCU takes part in 16 Canadian uranium JVs, most of them in Saskatchewan, the paper added.
More nukes from the north
Saskatchewan’s Athabasca Basin staking stampede continues. Since ResourceClips’ March 22 feature, additional uranium prospects have been claimed by Skyharbour Resources TSXV:SYH, Zadar Ventures TSXV:ZAD, Canadian International Minerals TSXV:CIN, Lakeland Resources TSXV:LK and Tad Mineral Exploration TSXV:TJ.
Purepoint Uranium TSXV:PTU wrapped up a winter drill campaign and high-grade, shallow-depth assays keep pouring in from the instigators of this frenzy, Fission Energy TSXV:FIS and Alpha Minerals TSXV:AMW. Their 50-50 Patterson Lake South JV has drawn international attention to prospects around the Basin’s southwestern rim, away from the established mines on the east side.
Gold lurches south
“Gold Futures Rebound as Dollar Weakness Boosts Demand for Metal,” Bloomberg reported on…. No wait, that was Thursday. Ah, here’s something from Friday: “Gold Plunges to Lowest Since July 2011, Enters Bear Market,” Bloomberg reported.
Kitco provided a number of perspectives on gold’s dramatic drop and the prognosis for next week. Following a sudden sell-off last December 18, Kitco analyst Jim Wyckoff wrote a detailed account of what took place. He then addressed the issue of manipulation: “It happens in nearly all traded markets—and it is nothing new.” It can work in the short run, he added. But “regarding any longer-term conspiracy to manipulate the price of gold or silver (lower), I cannot say for sure if that is the case or not—because I have never had the time to completely research the matter.”
In a Wednesday post Peter Grandich said he had long “respectfully disagreed” with the Gold Anti-Trust Action Committee on the extent to which gold is manipulated—“BUT NO MORE!!!” he stated with typographical emphasis.
On Friday he linked to this Lawrence Williams discussion in Mineweb about the argument pitting the “gold mainstream versus the gold mavericks.” Williams suggested the latter viewpoint seems to be gaining ground, even if GATA sometimes overstates its case. Nevertheless, every time an event like the Cyprus collapse starts to push gold up, “it is immediately taken down,” Williams pointed out. “This is more than just profit-taking. GATA may indeed have a point!”
Manipulation: Not even your pop cans are safe
Goldman Sachs might sell Metro International LLC, its metals warehousing business. According to a Thursday Reuters exclusive, such a decision could result from allegations that the company manipulates the supply of aluminum. Counted among the complainants is the Coca-Cola company.
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