Alfie Shaw of Mining Technology reports that three uranium mines are opening in the U.S.
- The mines are located in Arizona and Utah and each have an estimated 1.6 million and 4.3 million pounds, respectively, of a uranium compound called triuranium octoxide (U₃O₈).
- Other projects in Utah, Wyoming, and New Mexico are currently being developed and permitted and could unleash an additional five million pounds of U₃O₈.
- The U.S. is currently heavily reliant on other nations for the supply and processing of uranium, which poses risks to domestic nuclear power production.
- The opening up of these mines has been made possible by market forces and a burgeoning interest in nuclear power from both the private and public sectors.
“At the end of November last year, uranium prices reached more than $80 per pound (lb) for the first time in more than 15 years. Commenting on the attractive market conditions, Mark Chalmers, CEO of Energy Fuels, said: ‘Due to the substantial increase in uranium prices, US Government support for nuclear energy and nuclear fuel, and a global focus on reducing carbon emissions, Energy Fuels is resuming large-scale uranium production.'”
Read the full article here.