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Uranerz Energy Corp. Message Board

  • u_bug2008 u_bug2008 Mar 7, 2011 11:13 PM Flag

    us govt selling uranium stockpile starting first quarter of 2011

    Friday, Mar 04, 2011

    The US Department of Energy (DoE) will sell off excess uranium over the next three years to help fund the cleanup of a former enrichment site but has determined this will not adversely affect uranium markets.

    The DoE pledged in 2008 to manage stocks equivalent to 59,000 tonnes of natural uranium in such a way as to maintain a strong domestic nuclear industry. However, businesses were concerned by a July 2009 announcement that excess uranium could be sold to fund plans for an accelerated cleanup of the former Portsmouth uranium enrichment plant at Piketon, Ohio. Uranium miners worried that the amounts DoE could offload might not lie within the bounds of its 2008 plan.

    The 2008 policy foresaw that 22,700 tonnes of the DoE's excess material would be placed on global markets before the end of FY2017, with no more than 10% of US annual requirements being released in any single year.

    the DoE would be transferring approximately 2000 tU per year over the three years involved, 2011-2013.

    The analysis prepared by ERI found that the proposed quarterly transactions of natural uranium hexafluoride (UF6), beginning in the first quarter of 2011 and continuing through to the end of 2013, are equivalent to 10% of US requirements for natural UF6 in that period.

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    • URZ shouldn't get affected by the spot price anyways since they already have long term contracts lined up once they start production. And the Long Term Price remains virtually unchanged.
      But shouldn't , couldn't doesn't work with the masses...
      Looks like most U-shares with low production costs/ in-situ arrangements are recovering quickly right now. The ones still tanking are the ones with higher production costs imho !

    • This is very old news. I'm curious why it's coming out now, again. I smell a rat to keep the price down. It's the same as the Chinese announcement about reusage. Being a conspirancy-buff, I'd say manipulation is at hand by some group that will benefit by going short. HMMM???

      • 1 Reply to sdansker2002
      • it was released by DOE on 3/2/2011.....

        OK, so I read all these articles about how the "supply of russian warheads" was dwindling and soon would be all gone. After that supply ran out demand could not be met....YADDA YADDA YADDA...
        If the supply is running out then why is the DOE even remotely concerned that by selling stock piles of U on the open market that this could effect the U market price?

        This should be laughed off and not even a topic of notice.

        Why are they "restricting"the amount put on the market? I thought there wasn't any U to restrict? BIG SHORTAGE !!
        Sounds like an orchestrated bubble.

        Originally the DOE selling was supposed to STOP end of 2010 which is why the recent runup began mid 2010.

 
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