Paladin shares sink as it cuts uranium output
The uranium miner revised down its production forecast for the Langer Heinrich mine in Namibia.
The fate of long-standing moratorium in the mining of uranium in Virginia will be decided this week by a vote in the state’s general assembly.
Bloomberg reports that mining interests opposed to the decades-long moratorium will participate in a rally at the Capitol on Monday.
Both chambers of the state legislature will vote on bills for establishing regulations for uranium mining, which would bring to an end a moratorium in mining of the nuclear fuel which has been in place since 1982.
Efforts to overturn the uranium mining ban have triggered fervant resistance, with the Pittsylvania Board of Supervisors last week urging the state legislature to maintain the moratorium, and religious leaders from the African-American community also coming out in strong opposition.
The passing of the new legislation would enable Virginia Uranium Inc. to proceed with plans to mine a 119-million pound deposit in the state.
