Va. commission endorses uranium-mining plan

01/8/2013 | CNBC

The Virginia Coal and Energy Commission voted 11-2 to endorse a bill by state Sen. John Watkins that would establish regulations for the mining of uranium in the state. Under the proposal, extraction of the ore would in effect be limited to one company, Virginia Uranium, and to one site -- the 119-million-pound Coles Hill deposit, which is valued at $7 billion. The state General Assembly will make the final decision on the rules.

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