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Glow of Uranium Boom Attracts U.S. Miners : NPR

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The gate leading into the Mt. Taylor mine in northern New Mexico. Since the 1980s, the world has had huge stockpiles of uranium ore as a result of the U.S.-Soviet nuclear arms race and little interest in new nuclear power plants.

But now, there’s money to be made in mining uranium.

The price of uranium ore has shot up 10-fold in the past three years because demand has outstripped supply.

Countries like China and India have plans to open dozens of new nuclear power plants, which require enriched uranium for fuel. Major producers — like Australia, Canada, Russia and Namibia — are the major suppliers.

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Tags: Economics, Mining, Uranium