| In this week’s Investment Insights: - Unveiling Uravan: From secret Manhattan Project mine to modern ghost town
- Resilient and Radiant: How Uravan’s past fuels America’s Nuclear future
- Investment Alert Coming: How rising uranium prices are pushing a new era of mining opportunities.
Dear reader,
The people of Paradox don't want your pity.
This small town in Western Colorado is home to former uranium mining and mill workers and their children.
They're dying of cancer and lung disease. They buried many loved ones over the years.
Some of them can barely breathe and depend on oxygen tanks.
It’s a common story in rural America today.
But when a public hearing was held on whether a former uranium mine was allowed to reopen near Paradox, the only critics were activists from outside of town.
The people of Paradox want to get back to work.
And after an 8-year ban on uranium mining in Colorado, a judge finally lifted the ban in 2019, which opened up 31 former mines.
Colorado was once the epicenter of the uranium mining industry. And the most infamous mine was dug out around the town of Uravan, Colorado.
It was here that the Manhattan Project set up a secret uranium mine to help them create the atomic bombs that were dropped on Hiroshima and Nagasaki.
The miners of Uravan didn't find out about the role they played in history until much later. They had stable jobs, and they were proud to produce what was needed.
After the Manhattan Project ended, and the nuclear arms race began, Uravan turned into one of the biggest uranium mines in the country.
Federal agencies built backcountry roads and set up towns for the miners and their families to live in.
The Atomic Energy Commission set a guaranteed price for uranium to incentivize companies to keep digging for the ore.
It was the first (and last) government-sponsored minerals rush in history.
Today, Uravan is a ghost town.
Following the Cold War and nuclear incidents worldwide, uranium from down blended Russian nukes caused demand for US-produced uranium to plummet, leading to the closure of its mine.
Displaced residents received compensation for unsafe working conditions, using these funds for new homes and medical bills.
Yet, despite health challenges, former miners carry no regrets, understanding their risks and discussing uranium with expert-level knowledge.
They recognize that poor mine safety, not uranium itself, led to their illnesses.
Today, many still display uranium and yellow cake in their homes, a nod to their proud, complex legacy.
After decades of research, it turns out the Uravan residents were right…
As public sentiment and laws evolve, a 2020 Department of Energy report introduced initiatives to bolster U.S. nuclear capabilities, including establishing a Uranium Reserve and a Nuclear Industrial Base.
While U.S. nuclear development has stalled, nations like China, India, and Saudi Arabia are expanding their nuclear activities.
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