Uranium potential and socio-political environment for uranium mining in the eastern United States of America with emphasis on the Coles Hill uranium deposit

Full text: The United States of America is the world's largest consumer of nuclear power with 104 operating stations that produce almost 20% of our nations power supply. In 2007, the US nuclear power plants generated 806.5 billion kWh while France that gets 77% of its electricity from nuclear energy has 59 operating stations generated 418.6 billion kWh. In 2007, according to the US Department of Energy (DOE), the United States purchased 51 million pounds of U3O8 of which only 8% (4 million pounds) was US origin and the remaining 92% (47 million pounds) from foreign sources. The DOE projects that US electricity demand will rise 25 percent by 2030. Virginia Uranium, Inc. is focused on the exploration and development of the Coles Hill Uranium Property which is believed to contain significant deposits of uranium and in Pittsylvania County, Virginia. The area was favorable due to the existence of boundary Triassic Basins in contact with local high background granites. The deposits consist of continuous high grade zones (greater than 0.25%) within an and along a central axis with decreasing grade outward. There is considerable potential to both extend the high-grade sections within the overall deposit and extend the deposit at depth. In addition, a number of exploration targets have been identified in the surrounding land package controlled by Virginia Uranium. At this time, the project is ready to move to a pre-feasibility stage and will need a state-regulatory framework to move the deposit to a reserve and full feasibility stage. The defined deposit comes to the surface and is amenable to open pit mining. In addition to the two deposits there are other highly prospective areas in Pittsylvania County that deserve further exploration. In 1982, the project contained sufficient 'reserve' estimates for the Commonwealth of Virginia to hold hearings and establish the Uranium Administration Group (UAG). The UAG was charged with examination of uranium development at Coles Hill and 17 of the 19 members supported the development of regulations for uranium mining. Regulatory permitting process delays extended into the 1980s downturn in the uranium market and nuclear industry, and the project was abandoned, with leased mineral rights eventually returned to the land owners. Because the downturn in prices made uranium development uneconomic, Uranium mining regulations were never recommended by the UAG. The recent return of higher uranium prices and plans for the nuclear renaissance restarted interest in the deposit. Currently, the Commonwealth of Virginia does not have uranium mining statutes or regulations, and until such regulations are developed, no permits for uranium mining can be accepted by state regulatory agencies. In September 2007, the Virginia Governor's office released the Virginia Energy Plan that stated in part 'Virginia should assess the potential value of and regulatory needs for uranium production in Pittsylvania County'. On the 6th of November 2008, the Virginia Coal and Energy Commission, the same organization that studied the uranium issue in the 1980s, resolved to conduct a wide-ranging study to evaluate how uranium mining, milling and tailings management can be done in Virginia so that the environment and the public are protected to acceptable risk standards. (author)