Uranium renewal sparks New Mexico land battle

The mining industry and those residents of the area who are ready for an influx of jobs see the plateau around Mount Taylor near the town of Grants in the northwest curve of New Mexico as an appealing opportunity for economic gain. "It's what we need, it's what's departure to fuel the future," said Star Gonzales, director of the Grants cavity of commerce. "They will be good paying jobs."

But to local Native Americans whose intimates lived in the area centuries before European settlement, Mount Taylor is a central part of their traditions and religion. They are fighting to make sure that archaeological sites, their cultural legacy and water supply be protected. Some are opposite outright to new mine and have watched helplessly as mining projects move ahead. While state and national agencies recognize their cultural claim to the land, the law gives them virtually no power to stop mining.

"As an Indian nation, we are taught to respect mother earth, and you see somebody doing that, it's like somebody put a knife in you," said Albert Riley, a Laguna Pueblo tribal official and religious head. Mount Taylor - known as "Tsibina" to the Laguna and "Tsoodzil" to the Navajo - lies in the heart of the Grants mineral belt, the site of one of the richest hauls of uranium of the freezing war era

Uranium mining firm announces $5M private placement

Uranium Energy, which lists a corporate office in Littleton, Colo. and a registered office in Ottawa, issued five million common shares at a price of $1 per share.Current depositor and New York City-based investment management firm Black Rock subscribe for all five million of the common shares issued under the offering.

“Blackrock (sic) has been our biggest shareholder since 2005, prior to our IPO, and has been a solid supporter of the company since that time. We are extremely pleased with Blackrock's desire to enlarge its holdings to this extent," said Ur-Energy chair Jeffrey Klenda, in a statement.

"It clearly demonstrates their ongoing commitment to Uranium Energy's successes." Proceeds are expected to be used to finance drilling, mine growth and for general working capital and corporate purposes, the company said.The company's main exploration and growth properties are in Wyoming, but it also has two exploration projects in Canada in the Northwest Territories' Thelon Basin.