News Coverage
Uranium heavyweights come to Wyoming
Published December 14, 2006
GILLETTE -- Peabody Energy, Arch Coal Inc. and Rio Tinto may be the kings of coal in Wyoming, but they're not the only mining giants in the state any more.
Recent uranium claims span some 83,000 acres of federal lands throughout Wyoming, setting the stage for one of the most active uranium mining industries in the nation. A recent inventory of uranium claims by the Environmental Working Group found that 94 mining plans have been submitted to federal regulators, along with 141 mining plan notices covering some 83,600 acres in Wyoming.
The report identifies some of the biggest uranium players in Wyoming. Here's a look at the top three:
* Energy Metals Corp., a Canadian-based company, has amassed more than 200,000 acres in the Western United States, including some 10,500 acres in Wyoming, and specifically seeks out "politically favorable and mining-friendly jurisdictions in the United States," according to the company's Web site.
EMC has filed the most uranium mining claims in Wyoming in recent years, with some 2,823 claims on record, according to the study by the Environmental Working Group. Most of the company's new claims are located in south-central Wyoming.
EMC is 100 percent owner of the Moore Ranch Uranium Project in southwest Campbell County, and has identified some 5.88 million pounds of uranium ore. The Moore Ranch project was extensively explored in the 1970s and '80s by Conoco Minerals Corp., which drilled some 2,500 exploratory wells.
EMC is now in the process of confirming Conoco's earlier findings and is expanding exploration at the site. Through the end of October, EMC had drilled an additional 65 exploratory wells.
To learn more about Energy Metals Corp. (NYSE Arca:EMU), go to the company's Web site at www.energymetalscorp.com.
* Cameco Corp. is the world's top uranium producer, mining 20 million pounds of uranium ore in 2005. The Saskatoon, Saskatchewan-based company is the second most active in uranium claims in Wyoming with 2,583, according to the Environmental Working Group. More than half of its recent claims are in Converse County.
Cameco owns and operates Wyoming only active uranium mine, the Smith Ranch-Highland in-situ mine in Converse County, which is also the largest active uranium mine in the United States. The mine, which employs some 80 workers, produced 1.3 million pounds of uranium ore in 2005, but has a capacity to mine 4 million pounds annually, according to the company.
Cameco also owns and operates the Crow Butte uranium mine in Nebraska. The company also holds significant claims in five other Wyoming counties, including 323 claims in Fremont County and 195 claims in Campbell County, according to the Environmental Working Group.
To learn more about Cameco Corp. visit the company's Web site at www.cameco.com.
* High Plains Uranium Inc., based in Cheyenne, is listed as the third most active claims-staker in Wyoming, but that company is set to be acquired by Energy Metals Corp. That deal is set to be completed in January.
As High Plains, the company focused its claims activity in Converse County, but also picked up some 543 claims on federal lands in Sweetwater County, according to the Environmental Working Group.
The company raised $11.7 million last year to finance its U.S. operations, including its Allemand Ross exploratory project in the Powder River Basin where it planned to spend some $1 million this year, according to the company's Web site.
High Plains (TSX:HPU) is also actively exploring uranium reserves in the Red Desert, Gas Hills and Shirley Basin. To find out more about the company, go to www.hpur.com.
Energy reporter Dustin Bleizeffer can be reached at (307) 682-3388 or dustin.bleizeffer@casperstartribune.net.
