Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Uranium Stocks
Uranium Price
Our RSS Feed

Uranium Updates

Enter your email address:

Follow Us on Twitter
« Thirty per cent rate hike for nuclear power would add $5.36 to monthly bills | Main | Nuclear Power Needed To Slow Climate Change, Experts Say »
Friday
Nov082013

Work for uranium mine near Grand Canyon hits pause

FLAGSTAFF, Ariz. (AP) — A uranium mining company that was sinking a shaft for a mine south of Grand Canyon National Park has put the work on hold, citing market conditions and the expense of litigation.

Energy Fuels Resources Inc. said the operation will be on standby until December 2014 or until a ruling is issued in a federal case challenging the U.S. Forest Service's decision to allow development of the Canyon Mine near Tusayan. The company had planned to start extracting 83,000 tons of ore to produce 1.6 million pounds of processed uranium, or yellow cake, in 2015 but now will have to re-evaluate the timeframe.

Stephen Antony, Energy Fuels president and chief executive, said the mine remains an important aspect of the company's medium-term plans and it will continue to work with the Forest Service to defend the project's approvals.

Prices for uranium have dropped to the mid-$30s per pound on the spot market, among the lowest in the past five years. The Canyon Mine had been on standby status before, from 1992 until work resumed earlier this year, because of pricing.

To read this interview in full please click here.

..........................................................

In September 2011 the Gold Bugs index, the HUI stood at 630 as gold prices peaked, since then both have trended lower with the HUI losing about 65% of its value. The bottom has been called a number of times and after such a dramatic decline its difficult not to think that we are there now. However, as we all know the timing of any investment is crucial to its success and that is exactly what we are trying to do here, trying to pick advantageous entry and exit points. If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

Please remember to check your spam folder once you have subscribed to ensure that your verification has not gone astray and you are getting our emails.

As regular readers will know skoptionstrading has capped its membership, so the best we can offer you at the moment is a place you on the waiting list which you can do via this link, thank you.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>