Uranium – the new gold?

first_imgJanine ErasmusSouth African gold mining companies may soon be adding to their bottom line with the processing of uranium reserves found in tailings dams and mine dumps.In South Africa uranium is produced as a by-product of gold and copper mining by major mining companies such as Harmony, Gold Fields and AngloGold Ashanti. The sought-after radioactive metal is used mostly for nuclear weapons and nuclear power stations, but it has other uses, such as radiation shielding and the production of radioisotopes for medical purposes.Uranium is in an ongoing bull market, mostly because of rising demand for it as a nuclear fuel in the light of the global warming threat. With the metal currently trading at around US$90 a pound, local mining companies that hold uranium assets – particularly Harmony, Gold Fields, DRDGOLD and AngloGold – are delving into utilising these assets, by selling them, developing them with a partner, or processing them outright, whichever option yields the most value for the company.Whether in a mine dump or a slimes or tailings dam, there are substantial deposits of uranium that have accumulated over a period of years and which are in a position to be exploited. There is, however, a difference between uranium extracted from the leftovers of gold mining and uranium that is mined from uranium-bearing ore in a dedicated uranium mine. The former is of a lower grade, but it is still a valuable resource.In a declaration published in July 2007 Harmony, the world’s fifth biggest gold producer, announced that out of more than 50 of its tailings dams, in five dams in Randfontein there are 360 million tonnes of slurry containing 79 million pounds of uranium oxide concentrates (chemical formula U3O8); and in six dams in the Free State, there are 190 million tonnes of slurry containing 30 million pounds of U3O8.Harmony’s former chief executive Bernard Swanepoel said, in the same declaration, that “the results of our uranium deposits prove to be worthwhile to proceed to feasibility study stage”. The company will declare its uranium reserves for the first time in its 2007 annual report.Harmony has just announced an agreement with South African investment house Pamodzi Resources Fund, transferring certain of the uranium and gold assets held at Randfontein into a new company, provisionally named Newco. The sale of the Randfontein uranium assets is expected to realise US$252 million (about R1,6bn), with Harmony retaining a 40% shareholding in Newco.Gold Fields, the world’s fourth biggest gold producer, holds major uranium oxide resources at its Beatrix plant near Virginia, the Free State province’s third-largest town. It also envisages substantial returns from the processing of uranium in its slimes dams. The company also has another major uranium asset, a large underground ore body known as Beisa. Gold Fields has an estimated 30 million tons of uranium reserves at Beisa and in its dams.The world’s third biggest producer of gold, AngloGold, produces U3O8 in the form of a powder as a gold mining by-product. AngloGold also owns and supplies the Nuclear Fuels Corporation of South Africa (Nufcor SA), which was established in 1967 in Johannesburg to process and market uranium concentrates for nuclear power generators around the world. The company is said to be considering the sale of its slimes dams, as well as Nufcor International Ltd, the UK-based sister company of Nufcor SA, which AngloGold co-owns with FirstRand Limited, one of South Africa’s largest banking groups. No decision has yet been made.Uranium averages about 2.8 parts per million of the earth’s crust. It can be found in trace quantities just about everywhere on earth – it is more abundant than gold, silver or mercury, about the same as tin and slightly less abundant than cobalt, lead or molybdenum. Concentrated uranium deposits are found in various countries, and vast amounts of the metal occur in the oceans, albeit in lower concentrations.Uranium is sold only to countries which are signatory to the Nuclear Non-Proliferation Treaty, and which allow verification of this principle by international inspectors.According to data compiled by Ux Consulting, an agency that monitors trends in the nuclear industry, the spot price of uranium began to rise in the middle of 2003. It has continued to gain, reaching an all-time high of almost $140 a pound earlier in 2007 before falling back to its current price.However, Gold Fields CEO Ian Cockerill said recently that three-figure uranium prices are not sustainable, so in the long term it is unlikely that they will change much in an upward direction. However the processing of uranium found in mining waste could still contribute to the profitability of gold mines.last_img read more

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Indiana ~ Corporate Income Tax: Alternative Three-Factor Apportionment Formula Not Allowed

first_imgCCH Tax Day ReportAn out-of-state corporation (taxpayer) that manufactures and sells tobacco products across the United States was not permitted to utilize an alternative income apportionment formula because it failed to prove that the Indiana statutory apportionment formula did not fairly represent its income derived from sources within Indiana. The taxpayer argued that the majority of its income generating activity primarily occurred outside Indiana and, therefore, it filed an amended 2013 return utilizing the three factor apportionment formula. The taxpayer provided a third party economic analysis and a “separate accounting” analysis to show that Indiana’s statutory apportionment formula does not fairly represent the taxpayer’s Indiana income. However, the analyses were not sufficient to prove that the three factor apportionment formula would more accurately reflect its Indiana income. Therefore, the department concluded that Indiana’s statutory apportionment formula fairly represents the taxpayer’s Indiana income.Letter of Findings No. 02-20160014, Indiana Department of Revenue, February 22, 2017, ¶402-557last_img read more

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Prime Minister Hands Over Keys for Longville Park Phase III

first_imgPrime Minister, the Most Hon. Portia Simpson Miller handed out the first set of keys and certificates of ownership to beneficiaries of the Longville Park Phase III Housing Scheme in Clarendon on Wednesday, February 20.Approximately 882 families will benefit from new housing solutions constructed at a cost of $4.8 billion.Among the beneficiaries were 168 low income earners, who received subsidised rates for their units from the National Housing Trust (NHT), totalling approximately $127 million; 20 young professionals, who fall between the ages of 25 and 40; and a person with a disability.The NHT also approved 165 home grants of $1.2 million each, to help lower income contributors to purchase solutions. These grants were given to persons earning a maximum of $10,000 weekly.The Prime Minister, who has portfolio responsibility for the NHT, outlined that special consideration was given to certain categories of applicants, inparticular, the most vulnerable, in an effort to assist them in becominghomeowners.“The Trust has improved the standards of living for many Jamaican families through this investment.last_img read more

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Finland Two Maritime Pilots Die after Their Vessel Capsizes

first_imgzoom Two pilot cutter operators, employees of Finnish Finnpilot Pilotage, died on December 10 after their vessel L 242 overturned outside of Emäsalo island, in Southern Finland.Despite the Border Guard’s efforts to right the overturned vessel, it sank during the operation.The pilot cutter operators had been on their way to retrieve a pilot from a pilotage assignment. The cause of the vessel capsizing is unknown.Divers were able to recover the bodies of the ill-fated pilots from the sunken vessel, the company said.“This is a truly devastating day for Finnpilot. We are working with the authorities to determine the causes of this tragic accident in order to ensure the safety of our employees in the future. Procedures to that end are already underway,” Kari Kosonen, CEO at Finnpilot said.The fast pilot vessel L242 was a Kewatec Pilot 1500 that had been in the service of Finnpilot since autumn 2015. According to Finnpilot, the vessel was inspected by VTT Technical Research Centre of Finland Ltd.Finnpilot and the Safety Investigation Authority (OTKES) joined forces in salvaging the sunken pilot vessel.OTKES has launched an investigation into the cause of the sinking.last_img read more

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Huawei membership restored by SD Association WiFi Alliance

first_img Mate X foldable phone: Here’s what it’s really like to use “Huawei’s membership was never cancelled, it has been temporarily modified to ensure compliance with the US Department of Commerce Order,” a spokesperson for the SD Association said in an emailed statement. “The name was missing from our website earlier due to a technical issue.”This sentiment was echoed by the Wi-Fi Alliance, which said via email that Huawei’s membership “was not revoked.” Huawei’s participation in specific activities was “temporarily restricted” to comply with the Commerce Department’s order, it said.The company was also restored by JEDEC, which oversees semiconductors, and the Bluetooth standards group, CNET Espanol noted.The strain in the relations with Huawei came after the Trump administration banned the company from using US-made technology on May 15, following years of allegations that it’s linked to the Chinese government. As a result, companies like Google, Qualcomm, Intel and Arm suspended their relations with Huawei.Neither Huawei, JEDEC nor the Bluetooth standards group immediately responded to requests for comment.First published May 30 at 3:49 a.m. PT.Update, May 31 at 1:30 a.m.: Adds Wi-Fi Alliance statement. What is going on between Huawei and the US? Phones Tech Industry 4:59 Huawei 36 Photos Share your voice Post a comment 0 Huawei seems to have gotten back into a pair of US groups. Angela Lang/CNET Two tech standards groups that severed ties with Huawei apparently changed their minds pretty quickly.The Wi-Fi Alliance and SD Association last week apparently restricted and removed the embattled Chinese phone maker respectively, but Huawei reappeared on both organizations’ list of members this week.The Wi-Fi Alliance promotes and certifies Wi-Fi technology, and the SD Association sets the industry standards for SD memory cards. Losing its membership didn’t prevent Huawei from using these technologies, but silenced its voice in developing standards in future. Now playing: Watch this: Tagslast_img read more

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Rahul Ravindran opens up on Nagarjunas unhappiness over Rakul Preets slim figure

first_imgManmadhudu 2 movie launchTwitterActor Rahul Ravindran, who is directing Manmadhudu 2, has slammed the rumours that senior actor Akkineni Nagarjuna is not happy with the slim figure of his co-star Rakul Preet Singh in the movie.Rakul Preet Singh recently wrapped the shooting for her upcoming Bollywood movie De De Pyaar De starring Ajay Devgn. In the music video of one of its song, she was seen in bikini blouse and her glamour show grabbed many eyeballs. The actress has shed 10 kgs for this film and many of her fans down south were not impressed with her lean look and they had slammed her on social media.Apart De De Pyaar De, Rakul Preet has taken up the filming for Akkineni Nagarjuna’s Manmadhudu 2. The team has recently completed its first schedule. It was rumoured that Nagarjuna expressed displeasure over her bikini body after watching the rushes of the first schedule. He suggested her to put on the weight and get back her previous look. In a recent media interaction, she is planning to increase her weight.Rahul Ravindran took to Twitter to clear the air and denied the reports that Nagarajuna was not happy with Rakul Preet’s weight loss. He tweeted, “Contrary to some rumours, Rakul Preet has been shooting with us from day one of the Portuguese schedule. We have all been gushing non-stop about how stunning she’s looking and thanking our lucky stars that we got her. What an incredible talent she is Love to all”Manmadhudu 2 is a sequel to director K Vijaya Bhaskar’s 2002 Telugu romantic comedy film Starring Nagarjuna Akkineni, Sonali Bendre and Anshu. This movie was launched in Hyderabad on March 25 and it will feature Nagarjuna and Rakul Preet in the female leads. Samantha Akkineni is playing an extended cameo role in the film.In a statement to media, Samantha has confirmed, “I play a very interesting extended cameo in Manmadhudu 2. At the moment, I’m not allowed to reveal anything about my character but can vouch that it’s going to be an important one in the story. I am really looking forward to starting shooting.”last_img read more

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Meghan Markle and Kate Middleton feud to boil over at Wimbledon Royals

first_imgCatherine, Duchess of Cambridge and Meghan, Duchess of Sussex attend day twelve of the Wimbledon Lawn Tennis Championships at All England Lawn Tennis and Croquet Club on July 14, 2018 in London, England.Getty ImagesReports and rumours have long circulated about an alleged feud brewing between the Duchess of Sussex and the Duchess of Cambridge. Though Meghan and Kate seem to have had issues, it looks like both the Royals will be burying the hatchet.Kate Middleton and Meghan Markle have kept up appearances in public, but there has been some tension between them. Especially after Meghan prompted the split of the Royal household. Meghan Markle wants to carve her own path as a Royal, and she doesn’t seem to be the type to let rules and protocol stand in her way.Her attitude has rubbed quite a few Royals the wrong way, including Kate Middleton and the Queen herself. Prince Harry and Meghan Markle got married last year, but not every Royal was on board with their relationship. Prince William reportedly advised Harry that he was heading into a relationship with Meghan much too quickly. Kate Middleton and Meghan Markle bond is only getting stronger.Getty ImagesMeghan Markle split from Prince William and Kate Middleton’s charity in a bid for independence. And it was reported that Meghan was earning some goodwill from the British public for her charitable efforts. Meghan Markle and Prince Harry also moved to Frogmore Cottage to raise baby Archie away from the Palace. Kate Middleton and Meghan Markle will be together at Wimbledon. And observers may finally be able to decipher whether there is any truth to the feud rumours. We have to say that though Kate and Meghan may keep things cordial in public, observers may still pick up signs of a feud. But Wimbledon could very well show fans how far the feud has gotten and if it will finally tip over in public.last_img read more

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A BoseEinstein condensate has been produced in space for the first time

first_imgThe device consisted of a capsule containing a chip holding a group of rubidium-87 atoms, electronics, some lasers and a power source. It was activated once the rocket reached an altitude of 243 km, producing a BEC in just 1.6 seconds. Once the BEC was produced, 110 preprogrammed experiments were carried out in the six minutes it took the rocket to fall back to Earth.The BEC produced by the team was the first ever produced in space and marks the start of a new era in BEC research efforts. An international team of researchers has successfully produced a Bose-Einstein condensate (BEC) in space for the first time. In their paper published in the journal Nature, the group describes creating a small experimental device that was carried on a rocket into space and the experiments that were conducted during its freefall. The payload of the sounding rocket in the integration hall at the European Space and Sounding Rocket Range (Esrange) in Sweden Credit: photo/©: André Wenzlawski, JGU Journal information: Nature Explore further Payload of the sounding rocket and all those involved in the undertaking, among them scientists of the MAIUS-1 project, employees of the German Aerospace Center, and employees of the Esrange rocket launch site Credit: photo/©: Thomas Schleuss, DLR More information: Dennis Becker et al. Space-borne Bose–Einstein condensation for precision interferometry, Nature (2018). DOI: 10.1038/s41586-018-0605-1center_img A Bose-Einstein condensate is a state of matter occurring after gas atoms with very low density are chilled to very near absolute zero and bunch up to form an extremely dense quantum state. Scientists are interested in producing them so that they can test their properties—theory has suggested that they could serve as the basis for highly sensitive sensors. Such super-sensitive sensors could be used to better understand physics phenomena such as gravitational waves. However, producing Bose-Einstein condensates is tricky, because gravity interferes with devices for producing and studying them. The current method involves dropping such devices from towers to allow them to do their work in a zero-gravity environment—but these experiments have just fractions of seconds to operate. Doing these experiments in space would be a much better option due to the microgravity environment.Realizing the potential of a space-based platform for conducting BEC research, the U.S. launched the Cold Atom Laboratory last May, though it is not yet fully functional. In the interim, the researchers with this new effort created a tiny device capable of producing a BEC and conducting a host of experiments on it, which they put aboard a rocket and launched into space. © 2018 Phys.org This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Citation: A Bose-Einstein condensate has been produced in space for the first time (2018, October 18) retrieved 18 August 2019 from https://phys.org/news/2018-10-bose-einstein-condensate-space.html Researchers are creating a spot colder than the vacuum of space inside the International Space Stationlast_img read more

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