I've been reading with interest about the Pebble Mine Project, appreciating both viewpoints. I'm still on the undecided side, I guess. I'm all for creating jobs, but responsibly. Below are excerpts copied and pasted, with sources given credit. I'm just curious to hear what people on this forum feel about this mining project. The existing mess is still residue from a previous mining venture and hopefully, if Ucore proceeds with their venture, they are more responsible and bring real jobs to Alaska.
The project is located on Prince of Wales Island, near Ketchikan.
The Dotson Ridge project encompasses two separate rare earth ore bodies called the Dotson trend and the Sunday trend, located a few miles away from the historical Ross Adams mine and outside the area being examined for reclamation.
Rare earth elements (such as yttrium, lanthanum, and terbium) are used in a wide range of applications including many cutting edge military and green technologies. China currently controls more than 95% of world production and there has therefore been a resurgence of interest in establishing a domestic supply. The rare earth deposits at Dotson Ridge are of particular interest because they contain an unusually high ratio of profitable to less profitable elements. These include dysprosium which is used in high temperature magnet production in applications such as electric cars.
Bokan Mountain Project (Uranium)
In 2007, a company called Ucore Uranium Inc. (now Ucore Rare Metals) began exploration of the old mine and surrounding area. In 2009, Ucore divided the project into the Bokan Mountain Uranium Project and the Dotson Ridge Rare Earth Project and created Rare Earth One LLC to manage the projects. The company has not announced any exploration for uranium at the Bokan Mountain site since 2008, and appears to be focusing exclusively on rare earths nearby. The price of uranium ore is volatile, but has trended upwards over the last decade. Ucore has not reported results of its preliminary observations or future plans for exploitation of the site, but re-examination of this resource is always possible, particularly if there is continued interest in a resurgence of nuclear power.
Bokan Mountain is the site of the closed and contaminated Ross-Adams Uranium mine. The Ross-Adams mine drains into Kendrick Creek and Kendrick Bay, as would any future mines at Bokan mountain. A 2004 US Forest Service study found lead, arsenic and radioactive isotopes 3 to 4 times the background levels in Kendrick Creek and nearby tidal flats of Kendrick Bay. This poses a risk to the commercial fishing and subsistence fish and shellfish gathering in Kendrick Bay. Kendrick Creek and Bay are on the Alaska Impaired Waters List.
Ucore stock (UURAF) is currently tanking, but when the moratorium on mining ends eventually, this could be something to be invested in.
I'm just curious to hear what others think about this mining project, but I'm hoping this discussion doesn't become as hot as the Pebble discussion has. I know we all have our opinions, but please, let's tread lightly? Thank you.