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BUSINESS Saturday 15 February 2020
A25

Trump's $1.5B uranium bailout triggers rush of mining plans

By BRADY McCOMBS and a senior energy policy an-
ELLEN KNICKMEYER alyst at the conservative
Associated Press Washington Heritage Foun-
SALT LAKE CITY (AP) — Presi- dation.
dent Donald Trump's $1.5 The Energy Department
billion proposal to prop up said the plan would boost
the country's nuclear fuel work for at least a couple
industry has emboldened of the U.S. West's nearly
at least one company to dormant uranium opera-
take steps toward boost- tions. Residents near an-
ing operations at dormant other of the mines, in Utah,
uranium mines around the say they fear an increase in
West, including outside radioactive threats.
Grand Canyon National "Whatever Trump does, we'll
Park. The company, Cana- be standing our ground to
da-based Energy Fuels Inc., let the people know that
announced a stock sale we're not going to give
late Thursday and said it up," said Yolanda Bad-
would use the proceeds for back, a resident of White
its uranium mining opera- Mesa, a town of about 200
tions in the U.S. West. people who are members
The Trump administration This April 11, 2015, photo provided by EcoFlight shows the White Mesa Uranium Mill near Blanding of the Ute Mountain Ute
asked Congress this week in southeastern Utah. Associated Press Tribe near a uranium mill in
for $1.5 billion over 10 years southern Utah. Trump's plan
to create a new national Information Administration the region. Congress approves Trump's would need approval from
stockpile of U.S.-mined ura- reported Thursday. Energy Fuels had been one proposal, he said. a highly partisan Congress.
nium, saying that propping Energy Fuels Inc., a Toronto- of the main mining compa- "Depending on how things Rep. Raul Grijalva, an Ari-
up U.S. uranium production based corporation that is nies seeking U.S. taxpayer go in the coming weeks zona Democrat and chair-
in the face of cheaper im- the leading uranium mining support for domestic ura- and months, we may be in man of the House Natural
ports is a matter of vital en- company in the U.S., an- nium mining. It also helped a position to use some of Resources Committee, has
ergy security. Approval is nounced it was selling stock sell the Trump administra- the money to put that small opposed Trump's effort to
far from certain in a highly and putting the nearly $17 tion on cutting the size of mine into production," make domestic uranium
bipartisan Congress. million in proceeds into its a national monument in Moore said. mining a strategic issue, His
Some Democratic law- mining operations in Utah, Utah, Bears Ears, to open Trump made the request aides said they needed to
makers, and market ana- Wyoming, Arizona, Texas more land for possible fu- for a new national uranium see more details from the
lysts across the political and elsewhere in response ture mining and oil and gas reserve in his 2021 budget administration on the stock-
spectrum, charge that to Trump's 2021 budget. development. request this week. It was the pile proposal.
the Trump administration's Company spokesman Cur- Energy Fuels has no min- latest illustration that trying Sen. John Barrasso, a Wy-
overall aim is really about tis Moore said Friday that ing claims or land inside to rescue the U.S. nuclear oming Republican and
helping a few uranium could mean opening the the former territory of Bears and coal industries is a po- chairman of the Senate
companies that can't com- mine 15 miles outside the Ears, Moore said Friday. "So, litical priority for the Repub- Environment and Public
pete in the global market, Grand Canyon. that's a hard no," he said, to lican president, who often Works Committee, backed
and their investors. Environmentalists and any suggestion it planned invokes national security as Trump's proposal. "The Unit-
Demand for the nuclear Democrats have opposed any immediate uranium justification. The move has ed States should not be de-
fuel has languished world- uranium mining outside the development there. a range of critics. pendent on foreign imports
wide since Japan's 2011 national park, mainly over Launching operations at "It's not the responsibility of uranium. It is a risk to our
Fukushima disaster. U.S. concerns it could contami- the company's Canyon of the taxpayer to bail out national security," Barrasso
uranium production has nate water resources. Re- Mine claim outside the an industry, whether that's said in a statement.
plummeted 96% in the last publicans say mining could Grand Canyon is definitely uranium, solar, coal, what
five years, the U.S. Energy bring much-needed jobs to on the table, however, if have you," said Katie Tubb, Continued on Page 27