Part Three - New Mexico Uranium: Who Are the Serious Players?
By: James Finch | Posted: 30th June 2006
General Atomics
Meet the 800-pound gorilla. Not only is General Atomics in the front end of the nuclear cycle with a uranium mining subsidiary, it is a privately held company whose interests are widespread across the nuclear fuel cycle. GA is its acronym, and the one used in this industry. Founded in 1955 as a division of General Dynamics, GA has over 20 locations worldwide, manufacturing a variety of high technology products for commercial and government applications. For example, its aeronautical affiliate manufactures unmanned aircraft, surveillance and radar imaging systems.
GA covers a good part of the nuclear fuel cycle. In Australia, through Heathgate Resources, the company owns and operates the Beverly ISL mine. Its ConverDyn affiliate converts U3O8 into UF6 (uranium hexafluoride), which is the step preceding uranium enrichment. Another affiliate, the Cotter Corporation, holds various uranium properties and a licensed mill near Canon City, Colorado.
General Atomics also owns the largest uranium resource in the United States through its affiliate, Rio Grande Resources Corporation. The crown jewel of the company's uranium holdings are found in the Mt. Taylor deposit. Before the project was placed on standby in 1989, more than 8 million pounds of U3O8 were produced. The deposit occurs at 3000 feet below the surface with ore grades ranging between 0.15 percent and 2 percent U3O8. During the mine's production, grades average 0.5 percent. Mt. Taylor reportedly contains an in-place resource of more than 100 million pounds of U3O8. GA is reportedly evaluating the deposit for an ISR operation.
About the Author
Occupation: Writer
James Finch is a contributing editor for StockInterview.com and other publications. http://www.stockinterview.com
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Tags: pound gorilla, crown jewel, uranium mining, rio grande