First American Uranium Reports on New Mexico’s Past Uranium Mining

First American Uranium is highlighting the historical uranium production in New Mexico, particularly in the Grants district, where the company’s Red Basin Uranium/Vanadium Property is located. This region has seen over 340 million pounds of U3O8 produced from 1948 to 2002, accounting for a significant portion of the state’s and the nation’s uranium production. The New Mexico Bureau of Geology and Mineral Resources reports substantial uranium reserves in the state.

Historical factors like the Three Mile Island incident and coal discoveries led to the closure of uranium mines in the late 1980s. However, today’s market conditions, including increased interest in nuclear power, favor the potential resurgence of New Mexico’s Grants uranium district as a domestic uranium source. The CEO of First American Uranium, Shawn Balaghi, expressed optimism about contributing to a secure and domestic US-based uranium supply.

The resurgence of uranium production in New Mexico could impact the global supply chain for nuclear energy. The growing international interest in nuclear power, as seen in Sweden’s plans to build more reactors, is driving up uranium demand. Increased domestic production in the US could help meet this demand and reduce reliance on foreign sources, potentially stabilizing uranium prices and ensuring a consistent supply for nuclear power generation.

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Vietnam lifts restrictions on grain exports from North America and Europe

Vietnam is lifting grain export restrictions related to creeping thistle, enabling countries like the U.S., Canada, and Europe to have more direct access to its market. A revised quarantine pest list, effective from September 29, will no longer include creeping thistle. This change will allow Canada to resume bulk wheat shipments to Vietnam, which had been disrupted since 2018 due to the restrictions.

Creeping thistle is a fast-growing weed that harms crop yields by stealing nutrients and sunlight from other plants. It can also reduce grazing lands for livestock. The 2018 phytosanitary restrictions put exporters at risk of penalties if their cargo contained creeping thistle, leading to a decline in direct trade with Vietnam, especially from Canada. Consequently, Canada’s wheat exports to Vietnam plummeted to just over 20,000 metric tons in 2021, down from 200,000 metric tons annually before the restrictions.

The removal of these restrictions will benefit traders who can now import directly from Canada and Russia, both of which were key suppliers to Vietnam. Although Australia remains Vietnam’s largest wheat supplier, the U.S. has been increasing its wheat exports to Vietnam since wheat tariffs were lifted in 2021. This development is expected to positively impact U.S. and Canadian shippers, potentially boosting demand for Canadian wheat in particular.

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Capgemini says Sustainability in automotive industry is on a decline

A report from Capgemini Research Institute (CRI) highlights that sustainability efforts in the automotive supply chain are stalling due to heavy investments in supply chain disruption management. The CRI report, titled “Automotive Supply Chain: Pursuing Long-Term Resilience,” reveals that sustainability, carbon footprint, and environmental risk considerations are factored into supply chain decisions by only 37% of automotive organizations.

This slowdown in sustainability initiatives is attributed to the diversion of focus and investment caused by successive supply chain crises. While original equipment manufacturers (OEMs) have maintained their sustainability investment levels from the previous year, suppliers have reduced their annual investment by 17%.

On the supply chain front, the demand for electric vehicles (EVs) and semiconductors is driving nearshoring, with a global reduction of 22% in procurement from offshore locations over the past two years, expected to decline by a further 19% in the next two years. Europe is at the forefront of this trend, having reduced offshore procurement by 25% since 2021.

However, the report notes that raw materials are not receiving the same level of attention, with OEMs having only three years of raw materials secured for future growth. The CRI emphasizes the need for automotive organizations to balance sustainability and circular economy considerations with cost and affordability, suggesting that digital solutions can help strike this balance.

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• Source: https://www.allthingssupplychain.com/supply-chain-weekly-wrap-up-09-01-2023-09-07-2023/?utm_source=rss&utm_medium=rss&utm_campaign=supply-chain-weekly-wrap-up-09-01-2023-09-07-2023