Once the proud center of the Uranium Universe, and until recently the worlds largest uranium producer, the city of Grants (New Mexico) nearly collapsed in the 1980s as uranium prices sank into a twenty-year depression. Five thousand uranium miners lost their jobs, and the city elders panicked, searching for an industry with which to replace mining. Uranium companies helped build our hospital, our school and most of our major infrastructure, Star Gonzales, Cibola Countys Head of Economic Development, told StockInterview.com. We are a mining community and know it is beneficial.
Grants is a sleepy town of less than 10,000, north of Interstate 40, off exit 85, and about an hours west of Albuquerque. This past November, we toured the towns Mining Museum, which boasts of having the only underground uranium mining museum. Grants is now a prison town, and instead of mining uranium, the town runs most of the states prison system. The times are changing again, though. Along with the recent $45.50/pound spot uranium price, revival of uranium mining in Grants is all but a done deal. Several uranium companies have taken their first steps into Cibola County. As with the state of...
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