Uranium Mining in the United States - 2015

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

Date posted: 09/08/15

Kristen Moran reports thatUranium in the United States is used primarily for nuclear power; however, uranium mining originally had its roots in the production of uranium-bearing ore in 1898 with the mining of sandstone material on the Colorado Plateau in Colorado and Utah, for their vanadium content. In the 1950s, the US permitted a great deal of uranium mining, promoted by federal subsidies and rising global demand largely driven by nuclear weapons procurement programs. This trend lasted until the early 1980s, when changing geopolitical circumstances as well as safety, environmental, and economic concerns over nuclear power plants reduced demand. Peak production levels reached a climax in 1980 with over 250 mines in operation producing 16,800 tonnes of uranium. Within four years this abruptly dropped to 50 mines producing 5,700 tonnes, leading to a steady decline. By 2003 there were only two small operations producing a total of under 1,000 tonnes, or about 5 percent of the uranium consumed by US nuclear plants. Mining operations are currently undertaken by few companies on a relatively small scale. However, exploration is being conducted by many companies and joint venture projects, often going over areas that were mined in the 1950s to 1980s from shallow deposits. Many such areas offer deeper targets as well, up 1,200 feet below surface. The U.S. ranks ninth in the world for known uranium resources with 207,400 tonnes of uranium, behind Australia, Kazakhstan, Canada, Russia, South Africa, Namibia, Brazil and Niger.The global nuclear renaissance has prompted a revival in exploration and plans to reopen old mines. Exploration projects have increased in quantity and scope and there are now operating mines in Wyoming, New Mexico, Arizona, southern Utah, Colorado and Texas. The U.S. has been steadily increasing its domestic uranium output in recent years, coming in eighth place in the top uranium-producing countries in 2014, producing 1,919 tonnes of uranium.