This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Uranium Miners Grapple With Environmental Roadblocks In The United States

Uranium Miners Grapple with Environmental Roadblocks in the United States

The Uranium Working Group (UWG), commissioned by Republican Governor Bob McDonnell to study the creation of a potential policy and regulatory framework for uranium mining in the state of Virginia, has submitted its findings in a 125-page report to the state's Coal and Energy Commission. The year-long study — conducted by staff from Virginia's Department of Health, Department of Environmental Quality and Department of Mines, Minerals and Energy — follows years of aggressive lobbying by Virginia Uranium, which holds the Coles Hill uranium deposit located in Pittsylvania County, Virginia.

Coles Hill, first discovered in 1978, reportedly contains measured resources of 3,260 tonnes of U3O8 and indicated resources of 42,800t U308. The largest-known untapped uranium deposit in the United States and one of the largest in the world, Coles Hill has an estimated worth of $10 billion and holds enough uranium to power all the nation's nuclear plants for nearly two years.

Virginia banned uranium mining in 1982, but an exploration permit on the Coles Hill property was granted to Virginia Uranium in 2007. Since then, the company has been actively pushing legislators to lift the ban, donating more than $150,000 to political campaigns in the state last year. The company has also retained five influential lobbying and public-relations firms.

The UWG report doesn't advocate for or against uranium mining in the state of Virginia; rather, it examines the long-term storage of radioactive ore and the regulatory structure necessary to manage uranium mining. It also looks at the air and water monitoring that would be necessary to protect the environment and public health. The UWG recommends permitting and licensing fees as well as a possible tax on mining companies to pay for regulation costs.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs