www.geomineinfo.com/mining_photos.htm

Governance warnings

Special challenges to developing countries pursuing nuclear energy, include governance issues, related infrastructure, and long-term finance.

International lenders like the World Bank, currently oppose nuclear energy projects. In Paris, French president Nicolas Sarkozy urged lenders to change their policies. World Bank spokesperson Richard Morier protested again about high capital costs, but conceded that they would re-examine policies if a certain number of members prompted that. Complexity of nuclear energy development is likewise clear from the recent pebble bed technology development funding drain, stalemate, and skills drain.

Plan well, or sell uranium

African states wanting to play along with the need of developed countries for local uranium, in return for technology and finance, have to start their planning years ahead.Holger Rogner, head of the IAEA's planning section, commented; “Twenty years from now, many African countries may be ready for it.” It is uncertain whether African countries have the political will, skills, money, and time to play and win at the nuclear development game. Some may find it more profitable to mine and sell uranium for more direct benefits, like foreign currency and more basic infrastructure. * Amelia Broodryk is a senior researcher at the Institute for Security Studies in Pretoria.

RÖSSING URANIUM MINE, (Looking South)

Erongo Region, Namibia

Photo Provided Courtesy of Zsolt F. Rosta

Mining giant BHP Billiton increased its

iron-ore production by 11% in the March quarter to 31,16-million tons, while its year-to-date production for the

steelmaking material reached a new record.

South African miner AngloGold Ashanti said that it had secured a $1-billion four-year unsecured revolving credit facility (RCF) to refinance an existing $1,15-billion facility.

The current rand gold price of around

R270,000/kg is nearly 20% lower than the level of R330,000/kg reached early in 2009 when the dollar gold price was around $920/oz compared with the current $1,140/oz.

MINER’S CHOICE APRIL 2010 PAGE 15 Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32