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Old 07-14-2007, 12:41 PM
1 posts, read 2,927 times
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An article in a recent USA Today focused on the potential for a rebound in uranium mining in NM, specifically around the town of Grants, due to huge demand for new nuclear-powered power plants. Is anyone on this board familiar with the uranium mining industry in NM, and the area around Grants in particular? I'm curious if there are investment opportunities linked to the growth in population as the old mines come back on line and begin to hire again. It would seem to me that with uranium yellowcake now selling for roughly $135/lb on the spot market (vs. $7 in 2001) that this are is poised for rapid growth. Can anyone share their stories, ideas, info on this subject?
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Old 07-14-2007, 02:06 PM
Location: Abu Al-Qurq
3,689 posts, read 8,637,705 times
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Grants and surroundings is very rich in pitchblende-type ores, and there is a strong chance of a new uranium refinery plant in southeast NM.

I personally would like to see a lot more effort taken in reining in tailings from any mining site. Nuclear power doesn't have to be as dirty as it has been. Just to clear up any confusion, all Uranium (even depleted) is radioactive, and all is toxic. Letting the less hot stuff sit in tailings ponds is a terrible thing.

According to the nuclear trade press, all the atomic waste generated by a single person in their lifetime would only fill up a coke can.
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Old 07-14-2007, 02:48 PM
Location: Central New Mexico
1,120 posts, read 5,092,448 times
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BHP Billiton has been out at Ambrosia Lake for several years. They have been doing some reclaim work. They demoed all the old processing plant. I was out there one day when they were lifting an old storage silo must have been 15 foot deep of yellow cake when they picked the silo. Lot of excitement that day. I drove by a couple of weeks ago and they were toward the end of the tailings pile. I'm sure future plan include more mining as a new process plant is supposedly being built in southern NM. Plus all the chatter of PNM trying to get approval for a nuke plant up at four corners.
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