Vancouver-based International Consolidated Uranium has agreed to buy the Tony M, Daneros and Rim conventional uranium mines in Utah, as well as the Sage Plain property and eight Department of Energy leases in Colorado from Energy Fuels Inc. In addition, the companies have agreed to enter into toll-milling and operating agreements with respect to the projects. The transaction positions International Consolidated Uranium as a potential near-term US uranium producer.

The world's first cosmic-ray muon detector developed specifically for use in industry-standard boreholes, has been deployed at Orano's McClean Lake site in northern Saskatchewan where it will be used to image a uranium deposit. The technology developed by Canadian start-up company Ideon Technologies could transform mineral exploration.

Production at the Cigar Lake uranium mine in northern Saskatchewan, Canada, resumed near the end of April following the second COVID-19 related shutdown, Cameco said on 7 May whilst announcing its results for the first quarter of 2021. The company said its deliveries to customers in 2020 were not impacted by the pandemic and it does not expect there to be a material impact on its 2021 deliveries. However, it now expects to purchase more uranium in order to meet its supply contracts.

Uranium investment company Uranium Participation Corporation has entered into a definitive agreement with Sprott Asset Management LP to convert UPC into the Sprott Physical Uranium Trust and pursue listing on US stock exchanges. Denison Mines Inc's Management Services Agreement with UPC will be terminated, with Denison set to receive a termination payment estimated at CAD5.3 million (USD4.3 million).

Kazatomprom has announced the signing of a sale and purchase agreement for the sale of a 49% share of Ortalyk LLP to a subsidiary of China General Nuclear Power Corporation, subject to conditions and governmental approvals.

Orano is confident about its uranium mining future and will continue to invest in its projects while remaining committed to being a responsible mining company at all stages of operation, Orano Mining CEO Nicolas Maes told delegates at the World Nuclear Fuel Cycle forum today.

The pandemic has shown the resilience of the nuclear industry to act responsibly, both as a supplier of energy and as an employer, the head of the world's biggest uranium producer said today. In his address to delegates at the World Nuclear Fuel Cycle forum, Kazatomprom CEO Galymzhan Pirmatov said the wellbeing of the company's 20,000 employees was his first priority.

Cameco has announced plans to restart production later this month at its Cigar Lake uranium mine in northern Saskatchewan, Canada, which was suspended in December last year in response to the COVID-19 pandemic. Meanwhile, Orano Canada said it will resume production at its McClean Lake uranium mill, where ore from Cigar Lake is processed.

Production at the Cominak uranium mine at Akouta in Niger came to an end yesterday after over 40 years of operations during which it produced more than 75,000 tU. The mine has now entered the remediation phase, which will also include action to address the impact of the mine's closure on its employees and on local communities. Cominak's board of directors announced in October 2019 that the mine would close this month due to depletion of its resources.

Uranium companies in Australia and Canada have announced purchases of physical uranium holdings. Boss Resources says its strategic uranium acquisition will strengthen its position as it moves forward towards the restart of the Honeymoon project in South Australia. Vancouver, Canada-based Uranium Royalty Corp is to buy USD10 million of physical uranium through a supply agreement with Yellow Cake plc.

Uranium companies have separately announced plans to make strategic purchases of physical uranium. Denison is aiming to buy about 2.5 million pounds U3O8 (962 tU) through the spot market as a long-term investment, while Uranium Energy Corp has entered into agreements to purchase 400,000 pounds. UK-based Yellow Cake plc has also announced further purchase plans under its agreement with Kazatomprom.

Cameco produced only 5 million pounds U3O8 (1923 tU) in 2020 as a result of the COVID-19 pandemic but remains positive about the long-term fundamentals in the uranium market, President and CEO Tim Gitzel said today when announcing its fourth-quarter and year-end results.