MINING PROJECTS IN FOCUS

Many projects have been put on hold in Australia, Canada and United States. The Kayelekera mine in the world’s newest uranium producing country, Malawi, was placed on ‘care and maintenance’ in February 2014 after only five years of production. Today, the spot price lingers around US$30/lb, with demand further strained by annual global production and abundant secondary supplies that continually surpass demand. One estimate by Nick Carter, Senior Vice President of the Ux Consulting Company (2014), suggests that even with nuclear power construction underway or planned oversupply will exist through 2021 unless production is curtailed.