Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!
|Former Ross-Adams uranium mine, Alaska. Image credit: U.S. Forest Service.|
(Wallace Refiners) – KRBD-FM reported yesterday that the US Forest Service has reached an agreement with Colorado-based Newmont to permanently seal the former Ross-Adams uranium mine in Alaska’s Tongass National Forest on Prince of Wales Island.
The Alaska Department of Environmental Conservation says the Forest Service should be involving other agencies in the long-term monitoring of the site.
The Cold War-era Ross-Adams mine hasn’t produced uranium for nearly 50 years, but state regulators have been working to have the radioactive site on Prince of Wales Island cleaned up since the 1990s.
This fall the U.S. Forest Service finalized a plan for Newmont to seal the former mine with concrete and haul away abandoned buildings.
Impetus for this project comes from a separate mineral exploration effort about a mile away from the Prince of Wales site.
Canada’s Ucore has been investing in rare earths exploration on Bokan Mountain. Cleaning up the radioactive waste will be key for the mining company to access Kendrick Bay where material and equipment is hauled in and out by barge.
The rare earths project is designed to mine for minerals used in high tech products like smartphones and flat-screen televisions. The Trump administration has made domestic production of these resources a national security priority.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.