LYCOS RETRIEVER 
Uranium
built 216 days ago
Uranium mining is the largest Niger industrial employment provider. Direct employment reached 4400 workers before the market became depressed. At the end of 2003, the Somaïr and Cominak payrolls still exceeded 1700 workers.
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Uranium was the first element that was found to be fissile. Upon bombardment with slow neutrons, its uranium-235 isotope will most of the time divide into two smaller nuclei, releasing nuclear binding energy and more neutrons. If these neutrons are absorbed by other uranium-235 nuclei, a nuclear chain reaction occurs and, if there is nothing to absorb some neutrons and slow the reaction, the reaction is explosive. As little as 15 lb (7 kg) of uranium-235 can be used to make an atomic bomb.[8] The first atomic bomb worked by this principle (nuclear fission).
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Uranium has sixteen isotopes, all of which are radioactive. Naturally occurring uranium nominally contains 99.28305% by weight 238U, 0.7110% 235U, and 0.0054% 234U. Studies show that the percentage weight of 235U in natural uranium varies by as much as 0.1%, depending on the source. The U. S. Department of Energy has adopted the value of 0.711 as being their official percentage of 235U in natural uranium. Natural uranium is sufficiently radioactive to expose a photographic plate in an hour or so. Much of the internal heat of the Earth is thought to be attributable to the presence of uranium and thorium.
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Uranium has oxidation states of three, four, five, and six. The hexapositive compounds include uranyl trioxide, UO3, and uranyl chloride, UO2Cl2. Uranium tetrachloride, UCl4, and uranium dioxide, UO2, are examples of the tetrapositive, or uranous, compounds. Uranous compounds are usually unstable; they revert to the hexapositive form when excessively exposed to air. Uranyl salts, such as uranyl chloride, may decompose in the presence of strong light and organic matter.
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The Corporation entered into an agreement with a third party, commencing in January 2009, to calcine the yellowcake from First Uranium to produce uranium oxide packaged for dispatch to converters ("Toll Treatment Agreement"). Either party may terminate the agreement on 18 months notice. The third party calciner will construct a plant with one-half of the capacity of the plant to be dedicated for the processing of the First Uranium yellowcake and will purchase a road tanker to transport the yellowcake from the First Uranium operations to the third party calciner's facility. First Uranium will pay one-half of the construction cost of the calcining plant up to a maximum of ZAR15 million and one-half of the cost of the road tanker (together referred to as the "Loan"). The Loan will be effective as of January 5, 2009 and is to be repaid in monthly installments over a seven-year period commencing January 30, 2009. The Loan will bear interest at a rate equal to the prime overdraft rate as quoted by SARB, plus 2%, commencing January 5, 2009.
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AUSTIN, TEXAS--(MARKET WIRE)--Aug 15, 2007 -- Uranium Energy Corp (OTC BB:URME.OB - News)(Frankfurt:U6Z.F - News)(Berlin:U6Z.BE - News) announces the acquisition of the San Mateo Mesa Project, consisting of 1,400 acres located in McKinley County, New Mexico. The property was acquired from Sedi-Met Inc., a private company controlled by Gene Saucier and David Wentworth, who were formerly geologists for Conoco. Messrs. Saucier and Wentworth are highly respected in the uranium sector, and have agreed to enter into an alliance with Uranium Energy Corp, with a view to developing this project. These gentlemen are intimately familiar with the geology in this area.
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