A Historic Gold Announcement Is About to Rock Wall Street

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Uranium is being mined near the Grand Canyon as prices soar and the US pushes for more nuclear power

SUSAN MONTOYA BRYAN
March 30, 2024

The largest uranium producer in the United States is ramping up work just south of Grand Canyon National Park on a long-contested project that largely has sat dormant since the 1980s.

The work is unfolding as global instability and growing demand drive uranium prices higher.

The Biden administration and dozens of other countries have pledged to triple the capacity of nuclear power worldwide in their battle against climate change, ensuring uranium will remain a key commodity for decades as the government offers incentives for developing the next generation of nuclear reactors and new policies take aim at Russia's influence over the supply chain.

But as the U.S. pursues its nuclear power potential, environmentalists and Native American leaders remain fearful of the consequences for communities near mining and milling sites in the West and are demanding better regulatory oversight.

Producers say uranium production today is different than decades ago when the country was racing to build up its nuclear arsenal. Those efforts during World War II and the Cold War left a legacy of death, disease and contamination on the Navajo Nation and in other communities across the country, making any new development of the ore a hard pill to swallow for many.

The new mining at Pinyon Plain Mine near the Grand Canyon's South Rim entrance is happening within the boundaries of the Baaj Nwaavjo I'tah Kukv National Monument that was designated in August by President Joe Biden. The work was allowed to move forward since Energy Fuels Inc. had valid existing rights.

Low impact with zero risk to groundwater is how Energy Fuels spokesman Curtis Moore describes the project.

The mine will cover only 17 acres (6.8 hectares) and will operate for three to six years, producing at least 2 million pounds (about 907,000 kilograms) of uranium -- enough to power the state of Arizona for at least a year with carbon-free electricity, he said.

"As the global outlook for clean, carbon-free nuclear energy strengthens and the U.S. moves away from Russian uranium supply, the demand for domestically sourced uranium is growing," Moore said.

Energy Fuels, which also is prepping two more mines in Colorado and Wyoming, has produced about two-thirds of the uranium in the U.S. in the last five years. In 2022, it was awarded a contract to sell $18.5 million in uranium concentrates to the U.S. government to help establish the nation's strategic reserve for when supplies might be disrupted.

The ore extracted from the Pinyon Plain Mine will be transported to Energy Fuels' mill in White Mesa, Utah -- the only such mill in the U.S.

Amid the growing appetite for uranium, a coalition of Native Americans testified before the Inter-American Commission on Human Rights in late February, asking the panel to pressure the U.S. government to overhaul outdated mining laws and prevent further exploitation of marginalized communities.

Carletta Tilousi, who served for years on the Havasupai Tribal Council, said she and others have written countless letters to state and federal agencies and sat through hours of meetings with regulators and lawmakers. Her tribe's reservation lies in a gorge off the Grand Canyon.

"We have been diligently participating in consultation processes," she said. "They hear our voices. There's no response."

A group of hydrology and geology professors and nuclear watchdogs sent Arizona Gov. Katie Hobbs a letter in January, asking she reconsider permits granted by state environmental regulators that cleared the way for the mine. She has yet to respond and her office declined to answer questions from The Associated Press.

Lawyers for Energy Fuels said in a letter to state officials that reopening the permits would be an improper attempt to side step Arizona's administrative procedures and rights protecting permit holders from "such politicized actions."

The environmentalists' request followed a plea weeks earlier by the Havasupai saying mining at the foot of Red Butte will compromise one of the tribe's most sacred spots. Called Wii'i Gdwiisa by the Havasupai, the landmark is central to tribal creation stories and also holds significance for the Hopi, Navajo and Zuni people.

"It is with heavy hearts that we must acknowledge that our greatest fear has come true," the Havasupai said in a January statement, reflecting on concerns that mining could affect water supplies, wildlife, plants and geology throughout the Colorado Plateau.

The Colorado River flowing through the Grand Canyon and its tributaries are vital to millions of people across the West. For the Havasupai Tribe, their water comes from aquifers deep below the mine.

The U.S. Geological Survey recently partnered with the Havasupai Tribe to examine contamination possibilities that could include exposure through inhalation and ingestion of traditional food and medicines, processing animal hides or absorption through materials collected for face and body painting.

Legal challenges aimed at stopping the Pinyon Plain Mine repeatedly have been rejected by the courts, and top officials in the Biden administration are reticent to weigh in beyond speaking generally about efforts to improve consultation with Native American tribes.

It marks another front in an ongoing battle over energy development and sacred lands, as tribes in Nevada and Arizona are fighting the federal government over the mining of lithium and the siting of renewable energy transmission lines.

The Pinyon Plain Mine, formerly known as the Canyon Mine, was permitted in 1984. Because it retained existing rights, the mine effectively became grandfathered into legal operation despite a 20-year moratorium placed on uranium mining in the Grand Canyon region by the Obama administration in 2012.

The U.S. Forest Service in 2012 reaffirmed an environmental impact statement that had been prepared for the mine years earlier, and state regulators signed off on air and aquifer protection permitting within the past two years.

"We work extremely hard to do our work at the highest standards," Moore said. "And it's upsetting that we're vilified like we are. The things we're doing are backed by science and the regulators."

The regional aquifers feeding the springs at the bottom of the Grand Canyon are deep -- around 1,000 feet (304 meters) below the mine -- and separated by nearly impenetrable rock, Moore said.

State regulators also have said the geology of the area is expected to provide an element of natural protection against water from the site migrating toward the Grand Canyon.

Environmental reviews conducted as part of the permitting process have concluded the mine's operation won't affect visitors to the national park, area residents or groundwater or springs associated with the park. Still, environmentalists say the mine raises a bigger question about the Biden administration's willingness to adopt policies favorable of nuclear power.

The U.S. Commerce Department under the Trump administration issued a 2019 report describing domestic production as essential to national security, citing the need to maintain the nuclear arsenal and keep commercial nuclear reactors fueled to generate electricity. At that point, nuclear reactors supplied nearly 20% of the electricity consumed in the U.S.

The Biden administration is staying the course. It's in the midst of a multibillion-dollar modernization of the nation's nuclear defense capabilities, and the U.S. Energy Department on Wednesday offered a $1.5 billion loan to the owners of a Michigan power plant to restart the shuttered facility, which would mark a first in the U.S.

Taylor McKinnon, the Center for Biological Diversity's Southwest director, said pushing for more nuclear power and allowing mining near the Grand Canyon "makes a mockery of the administration's environmental justice rhetoric."

"It's literally a black eye for the Biden administration," he said.

Using nuclear power to reach emissions goals is a hard sell in the western U.S. From the Navajo Nation to Ute Mountain Ute and Oglala Lakota homelands, tribal communities have deep-seated distrust of uranium companies and the federal government as abandoned mines and related contamination have yet to be cleaned up.

A complex of mines on the Navajo Nation recently was added to the federal Superfund list. The eastern edge of the reservation also is home to the largest radioactive accident in U.S. history. In 1979, more than 93 million gallons (350 million liters) of radioactive and acidic slurry spilled from a tailings disposal pond, contaminating water supplies, livestock and downstream communities. It was three times the radiation released at the Three Mile Island accident in Pennsylvania just three months earlier.

Teracita Keyanna with the Red Water Pond Road Community Association got choked up while testifying before the human rights commission in Washington, D.C., saying federal regulators proposed keeping contaminated soil onsite rather than removing it.

"It's really unfair that we have to deal with this and my children have to deal with this and later on, my grandchildren have to deal with this," she said. "Why is the government just feeling like we're disposable. We're not."

There is bipartisan backing in Congress for nuclear power, but some lawmakers who come from communities blighted by contamination are digging in their heels.

Congresswoman Cori Bush of Missouri said during a congressional meeting in January that lawmakers can't talk about expanding nuclear energy in the U.S. without first dealing with the effects that nuclear waste has had on minority communities. Bush pointed to her own district in St. Louis, where waste was left behind from the uranium refining required by the top-secret Manhattan Project.

"We have a responsibility to both fix -- and learn from -- our mistakes," she said, "before we risk subjecting any other communities to the same exposure."

___

Montoya Bryan reported from Albuquerque, New Mexico. Associated Press writer Walter Berry in Phoenix contributed to this report.

Continue Reading...

Popular

Trump's 'Big, Beautiful Bill' Offers Seniors A $6,000 'Bonus' Tax Deduction: Here's How You Qualify For The Benefit

Trump's Big, Beautiful Bill offers a $6,000 senior bonus deduction from 2025-28. Couples can save $12,000. Retirees with incomes up to $75,000 benefit most.

Trump Says Jerome Powell Should 'Resign Immediately' After FHFA Director Alleges Fed Chair Lied About $2.5 Billion Renovation Plan

In Big Tech Just Before Congressional Hearing: ReportTrump wants Powell gone over testimony liesTrump demands Powell's resignation after accusations of misleading testimony from Federal Housing Finance Agency Director. Trump has been critical of Powell in the past.

Our No.1 AI Stock Has Nothing to Do With Tech - Ad

Nvidia CEO Jensen Huang recently said AI requires "100 times more" power. We believe that means the best way to invest in AI right now has nothing to do with technology ... And everything to do with energy. One stock appears to be perfectly positioned...

Once known as 'Dirty Myrtle,' Myrtle Beach is now the fastest-growing US metro for seniors

A South Carolina beach town once nicknamed “Dirty Myrtle” because of its rowdy nightclubs and strip joints has become a magnet for retirees in a nation that continues to age.

Marjorie Taylor Greene: 'Muslim Takeover' Threatens American Women

Rep. Marjorie Taylor Greene (R-Ga.) has expressed her fears regarding what she believes to be the most significant threat to the freedom of American women.

Is a Deliberate "Dollar Reset" Already Underway? - Ad

In an office building across the street from the White House, a powerful unelected official has laid out a plan that could deliberately tank the U.S. dollar, which could wipe out decades of retirement wealth for millions of unsuspecting Americans. A new video explains how. It lays out four urgent steps you should take immediately.

Cargo ship carrying new vehicles to Mexico sinks in the North Pacific weeks after catching fire

ANCHORAGE, Alaska (AP) — A cargo ship that had been delivering new vehicles to Mexico sank in the North Pacific Ocean, weeks after crew members abandoned ship when they couldn’t extinguish an onboard fire that left the carrier dead in the water.

This Stock Just Popped 30% In 5 Days — Now Expert Says It 'Looks Potentially Explosive'

Experts have been betting on the growth prospects of Oscar Health, as it surged by 16.51% on Wednesday and 32.56% in the last five days.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Iran’s president orders country to suspend cooperation with UN nuclear watchdog IAEA

DUBAI, United Arab Emirates (AP) — Iran’s president on Wednesday ordered the country to suspend its cooperation with after American and Israeli airstrikes hit its most-important nuclear facilities, likely further limiting inspectors' ability to track Tehran's program that had been enriching uranium to near weapons-grade levels.

Diddy Jury Deadlocked On Racketeering Conspiracy Charge As Verdicts Reached On Sex Trafficking Counts — Jurors To Return Wednesday

Jurors in Sean "Diddy" Combs' trial reached verdicts on four charges related to sex trafficking but remain deadlocked on the racketeering conspiracy charge, with deliberations set to continue.

The Unlikely Duo Rethinking Wearable Technology - Ad

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

BigBear.ai, AMD, QuantumScape, Coinbase, Tesla: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks ended the day on a high note, with the Nasdaq gaining over 1.4% on Tuesday to 19,912.53. The Dow also traded up 1.2% to 43,089.02, while the S&P 500 rose by 1.1% to 6,092.18. These are the top stocks that gained the attention of retail traders and investors throughout the day:

Trump's Tariffs, Boeing's Blowout, Tesla's Robotaxi, BYD's European Triumph And GM's Massive Recall: This Week In Mobility

This week's business and finance highlights include Japan's rejection of Trump's auto tariffs, Boeing's scrutiny over a mid-air incident, Tesla's Robotaxi launch, BYD's dominance in Europe, and GM's massive vehicle recall.

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Trump vents online about service provider after conference call marred by glitch

WASHINGTON (AP) — On Monday afternoon, the president of the United States was just another person complaining online about his service provider.

UnitedHealthcare Group, Gryphon Digital Mining, AMC Entertainment, Centene, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Major U.S. indices were mixed on Tuesday, with the Dow Jones Industrial Average rising 0.9% to 44,494.94 and the S&P 500 declining 0.1% to 6,198.01. The Nasdaq fell 0.8% to 20,202.89. These are the top stocks that gained the attention of retail traders and investors throughout the day:

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

After Diddy's conviction, here's where his business ventures stand

LOS ANGELES (AP) — Sean “Diddy” Combs has been in his federal sex trafficking trial, but that doesn't mean the once-celebrated music mogul will see his business empire restored.

OpenAI's Sam Altman Hints At Compensation Evaluation Amid Meta's 'Distasteful' AI Talent Poaching Spree: Report

OpenAI CEO Sam Altman in a message to OpenAI researchers, reportedly emphasized the importance of staying with OpenAI and hinted at possible compensation evaluations.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

California-Trump Legal Battle Over National Guard Deployment Escalates After Court Ruling

California's legal battle with Trump over military deployment in LA is at a standstill after an appeals court ruled in Trump's favor.

Sig Sauer, faced with lawsuits over a popular pistol, gets protection in New Hampshire

CONCORD, N.H. (AP) — Faced with mounting lawsuits over a popular pistol, New Hampshire-based Sig Sauer asked for — and got — protection in the form of a new state law that makes it harder to .

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

Outrage Mounts Over Trump's Appointment of 22-Year-Old to Terrorism Unit Amid Iran Crisis

In a move that has drawn widespread criticism, President Donald Trump has appointed 22-year-old Thomas Fugate to a critical terrorism-prevention role, amidst rising tensions with Iran.

The Missing Ingredient for Big Tech's $3T Recipe? - Ad

Big Tech doesn't build everything; they buy what's next. And only Emteq's tech offers real behavior insights for smart glasses, key to unlocking the $3T XR market. Their patented sensors track live facial muscle movements. With health-focused smart glasses in demand, only Emteq has this tech.

Elon Musk Says 'Clear Path' To Restoring Hearing With Neuralink, But The Deaf Community Want To Have Their 'Say'

Elon Musk's Neuralink faces backlash from the deaf community after proposing brain implant technology to restore hearing, with deaf adults calling for inclusion in the research process.

Occidental Petroleum, Exxon Mobil, Chevron Surge In Monday Pre-Market: What's Going On?

Occidental Petroleum Corp (NYSE: OXY), Exxon Mobil Corp (NYSE: XOM) and Chevron Corp (NYSE: CVX) climbed 1.95%, 1.53% and 1.31% during Monday pre-market trading session after oil prices have skyrocketed to their highest point since January, sparking concerns about potential supply disruptions.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Trump Brokers Peace Deal Between DR Congo And Rwanda — Now Eyes Billions In US Investment

Trump brokers a peace deal between DR Congo and Rwanda, aiming to end conflict and unlock U.S. investment in critical African minerals.

How Senate Republicans want to change the tax breaks in Trump's big bill

WASHINGTON (AP) — House and Senate Republicans are taking slightly different approaches when it comes to the tax cuts that lawmakers are looking to include in their massive

Our No.1 AI Stock Has Nothing to Do With Tech - Ad

Nvidia CEO Jensen Huang recently said AI requires "100 times more" power. We believe that means the best way to invest in AI right now has nothing to do with technology ... And everything to do with energy. One stock appears to be perfectly positioned...

Ex-Obama Treasury Secretary Jack Lew Sounds Alarm On NYC Under Zohran Mamdani: 'I Worry Deeply'

With Zohran Mamdani officially securing the Democratic nomination in the New York City mayoral race, centrist figures within the Democratic party, such as former Treasury Secretary Jack Lew, are raising questions on the city's future under a self-described Democratic Socialist.

Trump's Crypto Ventures, Draper And Cathie Wood's Bitcoin Predictions, MSTR Estimates, And More: This Week In Crypto

The past week in the world of cryptocurrency was nothing short of eventful. From legislative moves aimed at curbing alleged corruption in cryptocurrency ventures to bold predictions about Bitcoin’s dominance, the week was filled with intriguing developments. Here’s a quick recap of the top stories that made headlines.

Is a Deliberate "Dollar Reset" Already Underway? - Ad

In an office building across the street from the White House, a powerful unelected official has laid out a plan that could deliberately tank the U.S. dollar, which could wipe out decades of retirement wealth for millions of unsuspecting Americans. A new video explains how. It lays out four urgent steps you should take immediately.

650% Later, Rocket Lab CEO Isn't One Bit Worried

Rocket Lab CEO Peter Beck highlights strong demand for launches from both commercial and government customers.

Figma's Crypto Playbook Revealed Ahead Of IPO: $69 Million In Bitcoin ETFs, $30 Million More Coming Soon

Design company Figma (NYSE:FIG) has filed for an IPO and, along with sharing impressive revenue figures and year-over-year growth, the company's investments in Bitcoin (CRYPTO: BTC) are making headlines.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Bernie Sanders Warns Of 'Concentration of Ownership' In US Companies: 'That's Power'

Bernie Sanders claims Wall Street giants hold majority of US corporations, giving them power to steer economy & politics. Wants reform & better wages

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service