Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
A new report recently released by the US Energy Information Administration (EIA) documents various US uranium trends, including an upswing in exploration, production and employment in 2007. EIA’s Domestic Uranium Production Report, released May 13, documents a 63% jump in uranium industry employment in 2007 versus 2006. According to the report, total employment stood at 1,231 person-years for 2007. The report said uranium mining employment increased by 213%, with exploration employment jumping 100%. Uranium milling and processing employment rose 11%, while reclamation employment did not change from 2006 to 2007, according to EIA.
By state, EIA said employment increased in Arizona, Colorado, Texas, Utah and Wyoming. For 2006 through 2007, EIA tracked new uranium employment activities in Alaska, Michigan, Montana, Nevada, North Dakota, Oklahoma, South Dakota,and Virginia.
EIA reported that combined total American uranium exploration and development drilling totaled 9,347 holes covering 1.554 million m in 2007, marking a 90% increase over 2006 drilling. EIA also reported that total US uranium concentrate (yellowcake) production in 2007 was 4.5 Mlb, representing a 10% increase above the 2006 level. EIA also noted that shipments of uranium concentrate from American facilities totaled 4 Mlb in 2007, 6% above the 2006 level.
