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Nov 30, 2011

Rio Tinto faces new hurdles on Canadian uranium

TORONTO (Reuters) – Rio Tinto’s battle to secure its foothold in Canada’s uranium-rich Athabasca region has only just begun now that it has apparently won a bidding war to gain control of Hathor Exploration.

While the path is now clear for Anglo-Australian giant to acquire the exploration-stage company, a whole new set of rules will apply to Rio once Hathor’s flagship Roughrider project nears production.

Nov 29, 2011

Analysis: Rio Tinto faces new hurdles on Canadian uranium

TORONTO (Reuters) – Rio Tinto’s (RIO.AX: Quote, Profile, Research, Stock Buzz) battle to secure its foothold in Canada’s uranium-rich Athabasca region has only just begun now that it has apparently won a bidding war to gain control of Hathor Exploration (HAT.TO: Quote, Profile, Research, Stock Buzz).

While the path is now clear for Anglo-Australian giant to acquire the exploration-stage company, a whole new set of rules will apply to Rio once Hathor’s flagship Roughrider project nears production.

Nov 28, 2011

Cameco clears way for Rio’s C$654 mln Hathor deal

TORONTO, Nov 28 (Reuters) – Cameco Corp has backed
out of a bidding war for Hathor , clearing the way for
Rio Tinto’s C$654 million friendly offer and sending
shares of the Canadian uranium explorer tumbling.

For weeks, Rio Tinto and Cameco have been locked in a
battle to acquire Hathor, which controls the advanced
exploration-stage Roughrider project in the uranium-rich
Athabasca region of Saskatchewan in Western Canada.

Nov 14, 2011

Cameco challenges Rio with sweeter Hathor bid

TORONTO (Reuters) – Uranium producer Cameco Corp (CCO.TO: Quote, Profile, Research, Stock Buzz) raised its offer for Hathor Exploration (HAT.TO: Quote, Profile, Research, Stock Buzz) by 20 percent on Monday, challenging a friendly takeover bid by Rio Tinto (RIO.AX: Quote, Profile, Research, Stock Buzz) (RIO.L: Quote, Profile, Research, Stock Buzz) for the small Canadian mining company.

The C$4.50 per share offer, which values Hathor at C$625 million ($614 million), sent the company’s stock soaring 8.5 percent to C$4.85 on the Toronto Stock Exchange, as investors bet on a bidding war over the uranium junior.

Nov 10, 2011

Neo Material profits rise, but lower prices ahead

Nov 10 (Reuters) – Neo Material Technologies
reported a record third-quarter profit on Thursday, beating
market expectations, but said rare earth prices had eased from
recent highs and may keep falling in the fourth quarter.

Neo Material said volumes fell in the quarter to Sept. 30,
as customers shied away from buying material in the pricey
market. It expects sales volumes to stay at similar levels for
the rest of 2011. But income rose five-fold as record rare
earth prices boosted revenues.

Nov 9, 2011

Vanadium miners ready, hoping for green tech boom

TORONTO, Nov 9 (Reuters) – A little-known metal used in
steelmaking could emerge as a game-changer for battery
technology, raising the prospect of an investment boom like the
one that lifted rare earths out of obscurity last year.

Electric cars fueled by vanadium could one day travel
hundreds of miles on a six-minute charge, while renewable
energy sources like wind and solar could use vanadium batteries
to rival coal in terms of reliability. The technology could
boost demand for the metal by more than 35 percent in the next
two or three years, analysts say.

Nov 7, 2011

Cameco misses estimates, shares tumble

Nov 7 (Reuters) – Uranium producer Cameco Corp
said on Monday that its third-quarter operating profit rose on
higher uranium sales volumes and better realized prices, but
fell short of analysts expectations for the quarter.

Shares of Canada’s top uranium producer were down 8 percent
at C$20.01 on Monday morning on the Toronto Stock Exchange
following the results.

Oct 20, 2011

Molycorp speeds up plan to boost rare earth supply

Oct 20 (Reuters) – Molycorp , the largest supplier
of rare earths outside of China, will open a California
processing plant months ahead of schedule, easing the threat to
Western manufacturers posed by Chinese export controls.

The new plant, which will refine rare earths into oxides
and metals used in smartphones, wind turbines and a range of
other high-technology products, is expected to start initial
production in early 2012, about three months earlier than
previous estimates.

Oct 19, 2011

Rio tops Cameco in Canadian uranium bid

TORONTO (Reuters) – Rio Tinto (RIO.AX: Quote, Profile, Research) (RIO.L: Quote, Profile, Research) entered the battle for Hathor Exploration (HAT.TO: Quote, Profile, Research) on Wednesday with a C$578 million (359 million pound) friendly takeover offer for the Canadian uranium explorer that tops Cameco Corp’s (CCO.TO: Quote, Profile, Research) hostile bid.

The attraction of Hathor for both miners is its large exploration-stage Roughrider project in the uranium-rich Athabasca region of Saskatchewan in Western Canada.

Oct 19, 2011

Rio outdraws Cameco in bid for Canada uranium firm

TORONTO (Reuters) – Global miner Rio Tinto (RIO.AX: Quote, Profile, Research, Stock Buzz) (RIO.L: Quote, Profile, Research, Stock Buzz) entered the battle for Canadian uranium explorer Hathor Exploration (HAT.TO: Quote, Profile, Research, Stock Buzz) on Wednesday with a C$578 million ($572 million) friendly takeover offer that topped a hostile bid by Cameco Corp (CCO.TO: Quote, Profile, Research, Stock Buzz), one of the world’s biggest uranium producers.

The attraction of Hathor for both miners is its large exploration-stage Roughrider project in the uranium-rich Athabasca region of Saskatchewan in Western Canada.

    • About Julie

      "I currently cover mining and minerals out of the Toronto bureau, where I focus on uranium, silver, platinum, lithium and REEs. Prior to moving to the mining sector, I worked as an online editor and video producer for Reuters.com. I started at Reuters as a TV intern in Chile and before that, I freelanced in Eastern Europe and spent eight months living in the Galapagos Islands."
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