Nuclear reaction
Virginia recently affirmed a ban on uranium mining, dashing the hopes of enterprises hoping to tap one of the largest uranium deposits in the U.S.
 |
| Digging monitoring wells for unranium mining |
RICHMOND (Fortune Small Business) -- One of the largest uranium deposits in the U.S. lies in Virginia, beneath the family farms of Walter Coles and Henry Bowen, who are intent on tapping the ore and joining the nuclear-energy revival. But their hopes were dashed recently when a subcommittee of the Virginia House of Delegates voted to uphold the state's ban on uranium mining, leaving it the only state with that prohibition.
Although disappointed, the families aren't giving up on the deposit, worth $10 billion, and intend to complete exploratory drilling and geological studies. Their biggest task will be convincing area residents that new mining processes will prevent unsafe levels of uranium from leeching into area groundwater.
"We've lived right on top of it for six generations," says Walter Coles Jr., executive vice president of Virginia Uranium. "Uranium is in our water, and nobody in our family has ever died of cancer."
In the meantime, however, nuclear giant AREVA is not betting on Virginia. One day after the legislative ruling, the company announced that the state was off its short list of locations for a proposed uranium refinery. 
A greener smokestack?
Safe truck, explosive business
Bombs away: Startup aims to defuse nuclear warheads
-
Every restaurateur knows about Cursed Locations, the addresses where no venture survives. More -
Detroit's churches are plowing millions into redeveloping local housing and businesses. More -
Winepod attracted a wait list of eager buyers and millions from investors. Then came the recession. More -
As other major banks withdrew, Wells Fargo stepped up its small business lending. More -
Designer Chuck Comeau set up his manufacturing in Plainville -- 240 miles away from a major airport. More
We've run a dinner theater for three decades. We've been operating at a loss for the last couple of years, and are unable to get a loan. We even closed for two months this summer to save money. We don't know what to do. More
Across the nation, the deepening economic downturn is fueling anxiety among everyday folks. See what's got them worried and how they're coping. More
The Motor City needs new industries. These 7 entrepreneurs are bringing tech, medical research and design jobs to the Detroit metro area. More
Need to plan the best route and dodge speed traps along the way? Try these GPS devices and radar detectors. More
More Small Business
