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

Proposed East Coast Uranium Mine Dividing Va.

But environmental issues are the sticking point.

The prospect of uranium mining in Virginia has spawned an avalanche of studies, none of which are definitive. A yearlong analysis by a National Academy of Sciences panel is considered the gold standard among all the others, and supporters and critics of mining draw generously from its final report to argue their competing points.

Yes, it concludes, mining and milling in the West in the past has resulted in arsenic and uranium in local water supplies, but modern mining practices have the potential to reduce those risks.

Modern containment cells are designed to keep the waste out of water, but monitoring of existing waste sites to assess long-term impacts has not been done over the generations that would be required in Virginia, the authors state.

Supporters of mining say popular images of nuclear power and the crises at Chernobyl and most recently Fukushima in Japan have created a climate of fear involving anything radioactive, including uranium.

"It's that enduring image of the mushroom cloud," said Andrea Jennetta, who publishes Fuel Cycle Weekly, which is aimed at uranium producers, buyers and government agencies. "People seem to be unable to separate that from any sort of peaceful or positive use."

Still others say to reject mining is contrary to the American can-do spirit. Lillian Gillespie, the former mayor of Pittsylvania County's largest town, Hurt, is of that school. She left her native state of West Virginia to pursue a higher paying job with a furniture manufacturer.

"We've sent men to the moon and brought them back," she said. "I just believe we as a nation, as a state and a county can do something like this."

Wales, the public face of Virginia Uranium and project manager for the company, is a native of nearby Danville and describes the issue as "personal and moral." The Coles family, he notes, would continue to live on the property if mining was allowed.

4 of 6

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