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Uranium market strengthening, state says

Nov 10, 2016 - From wire reports

There is growing international demand for uranium, according to a recent paper produced by the Wyoming Geological Survey.

Authored by state geologist Robert Gregory, the paper presents a broad scope of information about the heavy metal's occurrence in Wyoming, associated geology, historical uses, types of mining and major discoveries. It additionally details early research on uranium, harnessing energy from the naturally occurring chemical element and its role in the nuclear fuel cycle.

"Rising prices of harder-to-find petroleum energy sources have also led countries to choose nuclear over fossil fuels," Gregory said. "Given the abundant supply of uranium that exists around the world and its advantages over fossil fuels, use of uranium could increase and keep the industry .strong for the foreseeable future."

The prospect stems from the growing demand for electric power from burgeoning economies as well as from smaller nations trying to modernize and elevate their standard of living.

Recenet mergers of local uranium companies have led to recent speculation that the uranium of Gas Hills, which helped put Riverton on the map, might be soon tapped into once again.

The largest economic reserves of uranium in the United States are found in Wyoming.

Gregory's paper is available at http://sales.wsgs.wyo.gov/uranium-geology-and-applications/.

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