By Christopher Hopkins, The Saint Consulting Group
If you have followed the Saint Consulting blog for any period of time, you would have noticed that we have been talking about this upcoming uranium shortage since at least 2007. See my October 2009 post to understand that this shortage is not something that has snuck up upon us. With the expiration of the “Megatons to Megawatts” agreement with Russia combined with the increased demand fueled by the increase in nuclear power plants in China and India could only lead to one place, this predicament.
It does not have to be this way, the United States has 7.3% of the world’s share of uranium reserves. The largest untapped reserve in the United States ,and the seventh largest in the world, is located in Southern Virginia, but don’t even think of harvesting that uranium or most other reserves any time in the near future.
The regulatory process in place combined with the unregulated activities of non-governmental organizations who appear to have very little regard for the truth will see to that. If a client wants to attempt to open a uranium mine either through open pit mining or in-situ mining, they should plan on at least 10 years of massive hysteria, half truths, complete fabrication and their company, them personally sometimes even their families being vilified by the NGO’s and the media.
Nuclear power is safe, uranium mining is safe it is time that the regulators stop giving so much credence to the hysterical uninformed opponents and examine the facts.
Now, take a look at the update Reuben Brewer has written in The Motley Fool, asking if uranium is poised for an upswing.
Christopher Hopkins is senior vice president for aggregates and mining for The Saint Report, email email@example.com