The uranium market started to show recovery in 2018 but prices and the long-term contracting market are still not sufficient to restart idled production capacity, Cameco CEO Tim Gitzel said yesterday.

Kazatomprom produced a total of 21,705 tU in 2018 and will continue to follow a "market-centric" approach to uranium production rather than its previous production-focused strategy, the Kazakh national atomic company said today.

Aura Uranium has signed a binding offtake agreement with London-based Curzon Uranium Trading Limited for up to 30% of production at its Tiris uranium project. The project, in Mauritania, north-west Africa, is expected to start up next year.

China's Shenghe Resources Holding Co Ltd - the largest shareholder in Greenland Minerals Ltd - has formed a joint venture company with subsidiaries of China National Nuclear Corporation for the trading and processing of rare earth minerals. The creation of the joint venture supports the development of Greenland's Kvanefjeld Project.

The Lost Creek in situ leach uranium project has produced a cumulative 2.7 million pounds U3O8 (1039 tU) since beginning operations in 2013 and could ramp up within six months, Ur-Energy said yesterday. Meanwhile, Uranium Energy Corp has announced a new consolidated mineral resource estimate for the Reno Creek project.

Anfield Energy has signed an agreement to acquire the Charlie in situ leach uranium project in Wyoming from Cotter Corporation, plus the West Slope group of previously producing uranium/vanadium properties in Colorado.

Denison Mines Corp has announced its decision to advance the Wheeler River uranium project in Canada's Athabasca Basin. The Wheeler River Joint Venture has approved a CAD10.3 million (USD7.7 million) budget for 2019 to begin work towards developing an in-situ leach operation at the Phoenix deposit.

Australian company Aura Energy has been granted an exploitation licence for its Tiris uranium project in Mauritania. The licence is a precursor to full development of the north-west African project.

Australian uranium company Vimy Resources will use the AUD3.0 million (USD2.2 million) it has raised through a share placement to pursue offtake contracts for its Mulga Rock project and exploration work at Alligator River.

The world's supply of uranium is more than adequate to meet projected requirements for the foreseeable future, but investment and technical expertise will be needed to make sure resources can be brought into production in a timely manner, including from mines currently under care and maintenance, according to the latest 'Red Book'.

The estimated rehabilitation costs for the Ranger Project Area in Australia's Northern Territory have increased from AUD512 million (USD370 million) to AUD808 million, based on preliminary findings from a feasibility study.

Paladin Energy is embarking on two studies to optimise its Langer Heinrich uranium mine in Namibia in preparation for a restart decision. The company will also examine the potential recovery of vanadium as a by-product at the mine, which is currently under care and maintenance.