Feds open Colorado uranium bidding | AspenTimes.com

Feds open Colorado uranium bidding

The Associated Press
Aspen, CO Colorado

GRAND JUNCTION, Colo. ” Leases of public land for exploration, development, and mining of uranium and vanadium ores are up for bids in southwestern Colorado near the Utah border.

The U.S. Department of Energy announced Thursday it will accept bids for 19 tracts of land in the Uravan Mineral Belt between the communities of Gateway and Egnar through May 9.

Uranium mining came to a near standstill when the bottom fell out of the industry when the Cold War ended and uranium from weapons stockpiles flooded the marketplace. Its price plummeted from $40 a pound in the late 1970s to less than $10 a pound in the 1980s, according to the Colorado Geological Survey.

With worldwide demand up, uranium prices are hovering around $90 to $100 per pound.