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Future of uranium industry not so sure

“Right now, there’s a lot of speculation, but exactly how large demand will grow, no one knows.”

Two companies push Uranium mining in region By GARY HARMON/The Grand Junction Daily Sentinel December 27, 2009 Two major international suppliers of uranium, meanwhile, are out of commission temporarily and possibly permanently. The Cigar Lake Mine in Canada flooded, and the Olympic Dam Mine in Australia is out of production because of a shaft accident…………………

How quickly the uranium industry is sparked back to life will depend on a variety of factors, from the difficulty and cost of finding and milling it to demand for nuclear power.

There also are legal challenges the industry would have to overcome. Environmental groups have filed suit against Montrose County, alleging its land-use approval decision for the Energy Fuels mill was arbitrary. Other groups are challenging the Energy Department’s leasing program, questioning the potential effects of the mining on endangered species in the Colorado River Basin………….

The bigger issue for uranium is: Will a significant portion of the world choose nuclear power as the clean fuel of choice?” said Dr. Rod Eggert, director of the division of economics and business at Colorado School of Mines. “Right now, there’s a lot of speculation, but exactly how large demand will grow, no one knows.”

December 30, 2009 - Posted by Christina Macpherson | business and costs, USA | antinuclear, nuclear, nuclear costs, uranium