Our guiding principles are more than a list of lofty goals. They are who we are, who we have been for a long time, and who we will be going forward. We believe that our values are inherent in what has made our state and nation successful—and what will sustain us as we head into a challenging future.
Virginia Uranium’s Seven Guiding Principles:
Energy Independence. The energy requirements of the United States and the nation’s dependence upon foreign energy sources have reached a critical crossroads. The United States currently generates about 20 percent of its power from uranium-fueled nuclear reactors, and the U.S. imports over 90 percent of the uranium required to fuel those reactors alone. The Coles Hill deposit contains enough uranium to power all of America’s 104 nuclear reactors for two years. Developing the Coles Hill resource would contribute significantly to the nation’s energy independence.
Community Development. Our enterprise, fully developed, can be the economic game-changer dreamed of since the loss of the great bedrock industries like textiles and furniture manufacturing that have gone overseas. At prevailing uranium prices, the Coles Hill ore body has the potential to generate $5 billion in revenue for Virginia companies over 30-35 years*—a staggering sum that can revitalize the economy in downtrodden Southside Virginia. Moreover, neither the jobs we would create nor the attendant economic energy could be shipped overseas.
Conservation. Since the 18th century, the Coles family has exemplified the highest level of environmental stewardship as they have cared for their land and used it for agriculture and livestock. Next door, the Bowen Family has set a similar example. We are committed to leaving the land, water, and other natural resources as healthy as they are now. As required by law, we shall reclaim any affected areas on our site, and we hope to place much of our site in conservation easements once mining is completed.
Historic Preservation. One of Virginia Uranium’s top priorities is to preserve and enhance the historic sites on the 3,500 acres we have acquired. A number of the historic houses on this land we have acquired are in poor condition, and we have already begun to restore several of them. We view restoration and preservation of these old homes as an integral part of our stewardship program.
Virginia’s Agricultural Traditions. We are committed to blending our mining and milling activities with the time-honored agricultural pursuits of Pittsylvania County. Our goal is to perpetuate the environmental harmony that currently exists in the community. Tobacco is no longer raised on our lands, but you may view some of the Coles Hill livestock in our photo gallery.
Regulatory Benchmarks. We welcome the scrutiny anticipated from local, state, and federal regulatory bodies and look forward to meeting or exceeding their standards. We also invite the review and participation of responsible environmental groups, as well as that of citizens.
Virginia Stakeholders. The majority of our company is owned by Virginians, and we are managed by Virginians. We are dedicated to the proposition that the Coles Hill deposit, a God-given natural resource, should benefit the entire region in as many ways as possible. We envision citizens prospering as shareholders, as employees, as vendors and in many additional capacities as the economic spin-offs from our enterprise multiply and grow. As a corporate citizen, we will be a substantial new source for tax revenue. We also hope to establish funds that will benefit education, agriculture and conservation once the enterprise is launched.
* 2011 Study by Chmura Economics & Analytics for the Virginia Coal and Energy Commission. The reader is cautioned that this economic study was completed by another organization independent of Virginia Uranium. The Company cautions that an NI43-101 compliant feasibility study has not been completed and there is no certainty the proposed operation will be economically viable.