Chem Info reported residents in the Four Corners region of the United States are hoping Energy Fuels Inc. (TSX:EFR) 2007 announcement for a uranium mine will become a reality bringing economic relief.
As quoted in the market news:
Today, a Canadian company’s plan to build the first conventional uranium mill licensed in the U.S. since 1979 has area residents hoping the region can once again become the uranium capital of the U.S. But there are obstacles, especially since uranium prices crashed after the 2011 meltdown at Japan’s Fukushima nuclear plant.
The spot price of uranium was more than $135 a pound when Energy Fuels Inc. announced plans for the Pinon Ridge Mill in 2007. Today it’s around $49 per pound, and CEO Steve Anthony said it won’t make sense to build the $150 million mill until uranium hits $80 per pound.