• 2 days Shell Oil Trading Head Steps Down After 29 Years
  • 2 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 2 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 2 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 2 days Venezuela Officially In Default
  • 2 days Iran Prepares To Export LNG To Boost Trade Relations
  • 2 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 3 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 3 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 3 days Rosneft Announces Completion Of World’s Longest Well
  • 3 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 3 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 3 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 3 days Santos Admits It Rejected $7.2B Takeover Bid
  • 4 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 4 days Africa’s Richest Woman Fired From Sonangol
  • 4 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 4 days Russian Hackers Target British Energy Industry
  • 4 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 4 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 4 days Lower Oil Prices Benefit European Refiners
  • 4 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 5 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 5 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 5 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 5 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 5 days OPEC To Recruit New Members To Fight Market Imbalance
  • 5 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 6 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 6 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 6 days GE Considers Selling Baker Hughes Assets
  • 6 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 6 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 6 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 6 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 6 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 9 days The Oil Rig Drilling 10 Miles Under The Sea
  • 9 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 9 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 9 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Goldman: Automated Trucks To Cost 300k Jobs Per Year

Goldman: Automated Trucks To Cost 300k Jobs Per Year

The race for automated trucking…

Are Autonomous Cars Ready To Ditch The Backup Driver?

Are Autonomous Cars Ready To Ditch The Backup Driver?

Self-driving cars are being tested…

High Costs and Low Prices Put Plans for Grand Canyon Uranium Mine on Hold

High Costs and Low Prices Put Plans for Grand Canyon Uranium Mine on Hold

Earlier in the year I wrote an article about the Obama Administration’s decision to allow Energy Fuels Resources to reopen an old uranium mine positioned just next to the South Rim entrance of the Grand Canyon.

Now Energy Fuels has announced that it is suspending all work on the mine due to a combination of falling uranium prices, which are at the lowest prices in five years, around the $35 a pound mark, and the rising cost of the on-going litigation that the company is facing from environmental groups seeking a ban against the mine.

Energy Fuels Resources have said that they will put all plans to reopen the mine on standby until December 2014, unless a ruling is made sooner that either permits them to continue, and ends the cost of the legal battle, or one that sides with the environmentalists and puts a permanent ban on further development of the mine. If given the go ahead to work the mine, the company has said that it could re-open the mine within two weeks.

Related article: UK Reviving European Nuclear Energy at High Costs

Back in April, Energy Fuels received federal approval to reopen the old uranium mine, despite a ban by the Obama Administration preventing all new hard-rock mining above a certain size, due to the technicality that it held rights to the mine from more than 20 years ago, and which made the mine exempt from the new laws.

Grand Canyon Uranium Mine

The Havasupai Indian tribe, with support from several environmental groups, have sued the federal government for granting such approval, claiming that the mines documents, which date from 1986, are outdated and should not apply.

Related article: Energy Starved Jordan to go Nuclear

Dave Uberuaga, the park superintendent at the Grand Canyon, voiced his worries to the Guardian that uranium mining in the area could affect the scarce supplies of water that feed that region of the desert.

Uberuaga has said that there are many other mines in the surrounding country which have similar claims to the Canyon Mine, and which could also reopen near to the Grand Canyon. “There are real threats every day and we're dealing with them.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment
  • Jacob A. Lessard on March 25 2014 said:
    Are there plans to use geothermal energy resources in the grand canyon?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News