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U.S. Department of Energy, Conveyor belts and machinery at the Schwartzwalder Uranium Mine, no date, Flickr
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Issue Brief

Uranium Mining in Colorado

The land that is now Colorado has undergone millions of years of geological processes that, together, created an environment for vast mineral wealth. Mining in Colorado is an important part of the state's history and a major—and controversial—part of the state's evolving identity. Over 100 years of uranium mining and processing has impacted everything from Colorado's natural environment to the composition and character of its towns. Mining began in the late 19th century when uranium resources were discovered in the southwestern part of Colorado. The Uravan Mineral Belt is rich in uranium, vanadium, and radium. During the two World Wars, mining in the region peaked; this development led to economic and population growth. With the rise of nuclear power after World War II, the demand for uranium increased, leading to the creation of towns and government initiatives to mine the ore. This boom proved short-lived, however. By the late 1970s, public opinion had shifted against both nuclear weapons and nuclear power; the environmental toll of mining and milling became impossible to ignore; and the price of uranium began to fall as global demand plummeted, especially after the easing of Cold War tensions and eventual collapse of the Soviet Union.

Ph. Darmayan, “The Economics of Uranium Supply and Demand,” IEAE Bulletin 23, no. 2 (1981): 3-7.The uranium market is unique compared to that of other energy-producing materials, and has changed drastically over time. The application of uranium remains extremely limited: it is almost exclusively used for energy production and military technologies. Because of this, the economics of uranium involves many publicly unknown factors, and Toni Johnson, “Global Uranium Supply and Demand,” Council on Foreign Relations, January 14, 2010 [last updated], https://www.cfr.org/backgrounder/global-uranium-supply-and-demand.the market is difficult to predict because a large portion of transactions are private. In the U.S. domestic context, the uranium production boom between World War II and the Cold War could not ultimately compete with other global sources, where labor was cheaper and more easily exploited. Yellowcake towns—mining and milling communities dependent on the demand for uranium—faced mine closures and a near total halt to domestic uranium production. What had been a booming era for U.S. national suppliers of uranium went “bust.” Most mines in Colorado have closed altogether or are maintained on standby status, as U.S. power plant operators turned to lower-cost, higher-quality international sources of uranium. However, The Trump administration’s policy of uranium self-sufficiency and reduced environmental regulations prompted Colorado-based Western Uranium & Vanadium Corporation to resume operations in the Sunday Mine Complex in 2019, although the mine returned to standby status one day before the 2020 election.

Sources

Colorado Energy Office. "Nuclear." Accessed July 31, 2020.

Conway, Bernard. "Uranium Mining." Colorado Encyclopedia. Last updated June 1, 2020. Accessed July 31, 2020.

Darmayan, Ph. “The Economics of Uranium Supply and Demand.” IEAE Bulletin 23, no. 2 (1981): 3-7.

Johnson, Toni. “Global Uranium Supply and Demand.Council on Foreign Relations, January 14, 2010. Accessed March 22, 2021.

Weslosky, Tracy. "George Glasier on WUC's Sunday Mine Complex & Trump's $1.5B Plan to Establish a US Uranium Reserve." InvestorIntel, March 10, 2020. Accessed August 5, 2020.

WISE Uranium Project. “Issues at Operating Uranium Mines and Mills—Colorado, USA.” Accessed March 29, 2021.
 

Last Updated:

09/15/2021

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