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Gold/Mining/Energy : Sprott Resource Corp (SCP.TO)

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From: litex	12/8/2010 10:18:28 PM
	of 247

Va. company to assess uranium mining impact Dec 8, 2010 5:36 PM ET By The Associated Press bloomberg.com RICHMOND, Va. (AP) — A company that has studied the economic impact of highway investments and airports will turn its focus to uranium mining in Virginia under a $200,000 socio-economic study commissioned by the state. A legislative subcommittee on Wednesday unanimously selected Chmura Economics & Analytics of Richmond from among five other consulting groups that made presentations. The Chmura study will analyze the possible consequences on home prices, wages, tax revenues and other issues related to mining a 119-million-pound uranium deposit in Southside Virginia. The socio-economic review is intended to complement a more technical review by the National Academies of Science, which will conduct hearings next week in Danville. Both studies are to be completed in one year. Virginia has had a moratorium on uranium mining since 1982. The General Assembly would have to lift the ban for mining to occur. Fueled by renewed U.S. interest in nuclear power, Virginia Uranium Inc. has proposed mining the uranium deposit in Pittsylvania County, near the North Carolina border. The company estimates the uranium's value at anywhere from $7 billion to $10 billion. The proposal has met fierce opposition from some local residents who fear that mining and milling the ore will foul local farm fields and streams and water sources for localities as far away as Hampton Roads.

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