Who Are the Big They? (Uranium mining)

Comment:  Ace thought this was interesting!  Some more information:  Coles knew about uranium in the hills in the 1950's according to the article: "Virginia’s SouthsideWalter Coles Sr. still remembers the early 1950s when a Geiger counter ticked up in response to what may be thebiggest untapped source of uranium in the United States: http://www.richmondfed.org/publications/research/region_focus/2009/winter/pdf/feature2.pdf"
No to uranium mining and milling now!

JANUARY 9, 2010 1:11PM
By: Uranium Billionaire

In my prvious blog, I outlined the uranium situation here in Chatham, Virginia as presented in the local newspapers.

•1982 the largest uranium deposit in the United States is discovered on the property of Walter Coles in Coles Hill, Virginia 6 miles form the town of Chatham in Pittsylvania County.
•The deposit is estimated to be worth between 8 and 10 million dollars and could yield approximatly 119 million tons of uranium. The current uranium yield in the United States is 4.5 million tons.
•Also in 1982, the Virginia Assembly responding to complaints from local farmers and environmentalists placed a memoratorium on uranium mining. The ban is still in effect.
•2007, Walter Coles formed Virginia Uranium Inc.
•2008 Virginia Uranium Inc. lobbied the Virginia Assembly to ask for a study to ascertain the safety of uranium mining. The study is a initial step in an effort to lift the ban on uranium mining in Virginia.
•The Assembly agreed to request the study but did not agree to pay for it.
•Virginia Uranium Inc. agreed to pay for the study.
Reviewing the sequence of events, several questions come to mind.

Why did Coles wait twenty-five years to form Virginia Uranium Inc.?

Who owns Virginia Uranium Inc.?

How is Coles funding the uranium study?

I can only answer two out of three. Why he waited to exploit the property currently remains a mystery. Once could guess that it took him all that time to find an investor. Maybe not.

Read more:
http://open.salon.com/blog/uranium_billionaire/2010/01/09/who_are_the_big_they