GlobalData has issued13 a new report forecasting a 30-percent rise in global nuclear energy14 generation — “from 2,386,449 GWh in 2012 to 3,078,130 GWh in 2020.” The research and consulting firm credits the increase to the commissioning of an estimated 198 nuclear reactors over the next decade. “The escalating need for power, combined with soaring fossil fuel prices, is driving the demand for nuclear energy around the world — especially amongst rapidly developing countries where large scale alternative energy generation is impractical,” states the press release.

Uranium sector heavies push Canada to change foreign ownership policy

Rio Tinto (ASX:RIO15,NYSE:RIO,LSE:RIO), Areva (EPA:AREVA16) and Paladin Energy (ASX:PDN17,TSX:PDN) are lobbying the Canadian government to relinquish foreign ownership restrictions on uranium mines, reported18 The Sydney Morning Herald. The push for policy change has the backing of the Australian government as well as the Canadian provinces of Saskatchewan and Newfoundland and Labrador. While there are no restrictions on foreign participation in exploration, Cold War-era legislation limits foreign companies to no more than 49 percent of ownership in Canada’s uranium mines.

Canadian Natural Resources Minister Joe Oliver said the government isn’t planning on changing the “longstanding policy,” reported19 Reuters.

Company news

Monday, Alpha Minerals20 (TSXV:AMW21) and its joint venture partner, Fission Energy (TSXV:FIS22), announced23 the discovery of a third zone of uranium mineralization and off-scale radioactivity at the Patterson Lake South property in the Athabasca Basin, Saskatchewan.“Results at the R780E Zone expand significantly strike extent of uranium mineralization at Patterson Lake along the main target corridor of conductors associated with a resistivity low anomaly,” states the news release.

Tuesday, Alpha Minerals announced24 highlights from 10 additional step-out drill targets in the R00E zone at the Patterson Lake South property. “All 10 holes intersected anomalous radioactivity, with 8 holes intersecting significant mineralization, including 6 holes intersecting variable amounts of off-scale radioactivity,” notes the press release. To further explore and evaluate this new discovery, the company has planned for additional drilling to take place prior to the completion of the current winter program.

Yellowjacket Resources (TSXV:YJK25) inked26 a deal to acquire eight additional mineral claims, collectively known as the Orr Peninsula uranium property, totaling 61,452 acres. The company is the largest mineral claim holder in the Patterson Lake area, with approximately 95 percent of its 391,142 acres of Athabasca Basin uranium exploration claims in the Patterson Lake region. The new claims are contiguous with the company’s Patterson Lake South claim group in the Athabasca Basin area of Saskatchewan.

Canadian International Minerals27 (TSXV:CIN28) acquired29 a 100-percent interest in 20 claims totaling 25,225 hectares of land in the Patterson Lake South uranium district. “The claims were staked for their proximity to the [Patterson Lake South project under exploration by Alpha Minerals and Fission Energy] and interpreted favourable geology for the occurrence of PLS style uranium mineralization,” states the news release. The company is acquiring further claims in the area as well.

Strathmore Minerals (TSX:STM30,OTCQX:STHJF) announced31 that the US Forest Service has published the Draft Environmental Impact Statement (DEIS) for the company’s Roca Honda uranium project in New Mexico. The Roca Honda project is a joint venture between Strathmore (60 percent) and Sumitomo (TSE:805332) (40 percent). Completion of the Final Environmental Impact Statement and the Roca Honda mine permit Record of Decision are expected later this year.

Forsys Metals (TSX:FSY33) announced34 the results of percussion drilling and metallurgical testing at its Norasa uranium project in Namibia, Africa. The results indicate that Forsys will be able to achieve an overall plant recovery exceeding 88 percent, an improvement over the previous technical report released in January 2010.

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