Economic Benefits of Uranium
The mineral resources of the Coles Hill site are believed to have a significant quantity of uranium — enough to sustain long-term mining operations.
When fully operational, Virginia Uranium will employ 300 to 500 people, depending on the type of mining selected. Additionally, mining operations will encourage various companies to establish in the Southside Virginia region.
Promoting Economic Stability
Virginia Uranium is dedicated to using this natural resource as a catalyst for economic development in Southside Virginia. Unemployment in Pittsylvania County is currently double the state average. Mining the uranium will create hundreds of long-term, high-paying, stable jobs. Since the mine cannot be moved, these jobs cannot be outsourced. Tax revenues will increase funding for quality of life resources including improved schools, health care, recreation, roads and public safety. Other businesses attracted to the area by our activities like professional service companies, supply companies, retail, hotels and restaurants would also support economic growth.
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Average annual wages in Southside Virginia in 2006 were $29,730, compared to the state average of $41,450. The average annual salary at a mine in Nevada is $68,000 annually. * Source: Elko County Nevada Economic Development - testimony to the U.S. House of Representatives Energy and Mineral Resources Subcommittee, Aug. 2007. |
