The Investing News Network's Andrew Topf asked Drolet for his insight on how long the Coles Hill permitting process might take if the ban is indeed lifted. “They [Virginia Uranium] are so enthusiastic about getting this mining going that I think you'll see the permitting documentation filed very quickly — and by that I mean weeks to months. But then there's the hearing process that gets triggered because of that.” The permitting process may take years, in his opinion, as the project faces opposition from those concerned with the potential environmental hazards.
Outlook bright for US uranium companies
Most analysts that the Investing News Network has spoken to are highly bullish on the uranium sector as a whole and see a lot of investment opportunity — especially in the US. Katusa believes we will see a resurgence in US-based uranium mining companies. “There are many significant US uranium assets, and the infrastructure is in place. This is a very strategic investment opportunity currently presenting itself. This is all shaping up to be very bullish for low-cost and near-term producers in the United States,” he said.
Mark Lackey agrees. “I think there are great opportunities in places like Wyoming and New Mexico. Yes, the grades may be low, but the tonnage is high and the costs are good. The infrastructure is there, and you can permit in those states quite easily. I think some of the companies situated in those states have some interesting potential. I think Americans would like to have their uranium coming from Canada or the United States.”Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company or commodity mentioned in this article. Related reading: Nuclear Power Prominent in US Presidential Candidates' Energy Policies Uranium Miners Grapple with Environmental Roadblocks in the United States