Could South Texas Be on the Verge of Another Uranium Boom?

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

Date posted: 01/09/16

Michael Marks reports that a recently released report from the United States Geologic Survey bolsters that status, but in an unexpected way. South Texas, evidently, could be sitting on over 200 million pounds of uranium, the main ingredient in nuclear energy, trapped in sandstone hundreds of feet beneath the surface. Although there are already two uranium mines in South Texas, the findings represent more of the element than was previously thought to exist in the area. Nuclear reactors in the U.S. purchased 53 million pounds of uranium in 2014, according to the U.S. Energy Information Administration. That means that the South Texas uranium could power the the fuel needs for four years, if demand stays steady. The U.S. is the largest consumer of uranium in the world, and demand for nuclear energy is growing. The country currently imports over 90 percent of what it uses, most of that which from Kazakhstan, Russia and Uzbekistan, but from Canada and Australia if needed. Texas also could contribute in a large way in the future.