The uranium industry is arresting a bullish tone amid resurgent prices and a welcome atmosphere in the top state for uranium treasury. Companies tout plans to mine more uranium in Wyoming through a Wyoming Mining Association news meeting Thursday."I feel uranium will be here to stay," said the association's assistant director, Lynn Welker. Titan Uranium USA Inc. said it intended to open a mixture surface underground uranium mine in Wyoming. Meanwhile, the top U.S. miner of uranium, Cameco Resources, said it planned to double uranium manufacture in Wyoming by 2018.
Wyoming, followed by New Mexico, jointly have anywhere from two-thirds to three-quarters of the nation's predictable uranium reserves, according to the U.S. Energy Information Administration. The industry got its found in Wyoming during the early days of the Cold War and fell on hard times in the 1980s. Uranium prices soared in current years, reaching $130 per pound in 2007. Prices plummet during the depression but are up 50 percent since previous summer, reaching $62.50 per pound as of Thursday.
Not far from Jeffrey City, a central Wyoming community that has been a spirit town since the local uranium industry go bust in the 1980s, Titan Uranium USA Inc. plans to reopen an region uranium mine once own by U.S. Energy. "People ask us if we are going to bring Jeffrey City back from the dead," said Gregory Adams, vice president of Titan Uranium USA Inc. The mine will bring 200 jobs, which will help the region even though the company has no plans to restore the town itself, Adams said. "I think the uranium industry is on a roll here once more in Wyoming and they are leaving to bring a lot to the state," he said.
Wyoming, followed by New Mexico, jointly have anywhere from two-thirds to three-quarters of the nation's predictable uranium reserves, according to the U.S. Energy Information Administration. The industry got its found in Wyoming during the early days of the Cold War and fell on hard times in the 1980s. Uranium prices soared in current years, reaching $130 per pound in 2007. Prices plummet during the depression but are up 50 percent since previous summer, reaching $62.50 per pound as of Thursday.
Not far from Jeffrey City, a central Wyoming community that has been a spirit town since the local uranium industry go bust in the 1980s, Titan Uranium USA Inc. plans to reopen an region uranium mine once own by U.S. Energy. "People ask us if we are going to bring Jeffrey City back from the dead," said Gregory Adams, vice president of Titan Uranium USA Inc. The mine will bring 200 jobs, which will help the region even though the company has no plans to restore the town itself, Adams said. "I think the uranium industry is on a roll here once more in Wyoming and they are leaving to bring a lot to the state," he said.
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