Kristen Moran reports that uranium in the U.S. is used primarily for nuclear power. However, uranium mining originally had its roots in the production of uranium-bearing ore in 1898. At that time, sandstone material on the Colorado Plateau in Colorado and Utah was mined for its vanadium content.
In the 1950s, the U.S. encouraged a great deal of uranium mining. This was promoted by federal subsidies and rising global demand largely driven by nuclear weapons procurement programs. The trend lasted until the early 1980s, when changing geopolitical circumstances as well as safety, environmental, and economic concerns over nuclear power plants reduced demand, driven mostly by media hype, as it turns out.
Peak production levels reached a climax in 1980 with over 250 mines in operation producing 16,800 tonnes of uranium. But 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% of the uranium consumed by U.S. nuclear plants.
Mining operations are currently undertaken by few companies on a relatively small scale, waiting for the predicted increase in the price of U3O8. In response, exploration is being conducted by many companies, often going over areas that were mined in the 1950s-80s, looking for deeper mineralization that went unrecognized in the past.
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.
Resource Portal for I2M Clients, Associates, and Geoscientists
Managed & Built by I2M Consulting, LLC | © 2010-
Managed & Built by I2M Consulting, LLC | © 2010-