This Day On The Street
Continue to site
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

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.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs