- Half of Madoff’s Clients Didn’t Lose Money
- BofA CEO Won't Resign Unless Charged by SEC: Sources
- ARM Foreclosure Wave: Is It a Myth?
- Support for Health Care Reform Stabilizing: NBC/WSJ Poll
- Homebuilder Stocks Are Overvalued, Says Top Analyst
- Americans Put Off Marriage, Buying House: Census
- Kudlow: Art Laffer's Four Prosperity Killers
- World's Most Competitive Financial Centers
- What Drivers Want: Owner's Manuals
- Why You Should Own These Financials: Strategist
- Are Air Conditioned Shoulder Pads The New Performance Enhancer?
- Do Happy Employees Increase Shareholder Value?
- Weak Dollar 'Positive' For These Sectors: Strategist
- Urlacher's Memorabilia Contract: An Inside Look
- Never Let Them See You Sweat - When You Sweat
- Tony Fratto: New Economic World Order? Not Really.
- Intel Hosts Its Developers
- MoveOn.Org...Is Funny?
- Bank of America backpedals on overdraft fees
- American Airlines dropping a retiree health plan
- Bank of America will give Congress more documents
- Venezuela threatens ConocoPhillips with lawsuit
- Ga. residents get crash course in flood insurance
- Delta to sell $500M in notes in private offering
- Company considers chemical ND uranium extraction
- Barrick completes $625M sale of silver production
- US Airways sells 26.3 million shares to Citi
Text Size 
BISMARCK, N.D. - An Australian company exploring for uranium in southwest North Dakota says it believes it may be able to save millions of dollars by pouring chemicals over piles of lignite to extract the radioactive element and other valuable substances.
Formation Resources Inc. of Bismarck is a unit of PacMag Metals Ltd., based in West Perth, Australia. The company says the so-called heap-leach process can be done for less than $20 million. Building a processing plant could cost four times that much.
The company says the high-grade uranium found in southwest North Dakota is at a shallow depth, usually less than 60 feet. Jim Guilinger, a PacMag consultant, says that makes the heap-leach process more attractive.
The company says the chemicals involved in the process are various types of acids. State geologist Ed Murphy says the proposal will be looked at "very carefully" and the permit process may take years.
Print
Email
Data is a real-time snapshot *Data is delayed at least 15 minutes