MISSISSIPPI COUNTY — Officials in southeast Missouri's Mississippi County are hopeful that efforts to mine uranium could provide a badly needed boost to the economy.
Colorado-based Water Research and Development plans to dig 500 to 1,300 feet into the ground on farm land in search of uranium. Founder John Gustavson says the company plans to spend about $1 million on exploration in the next 12 months and an additional $4 million in the year after that.
If uranium is found, deposits would be recovered by injecting water and forcing it back up through wells. The end result is a uranium powder that is used in the preparation of fuel for nuclear reactors.
Landowners would receive 4 percent of the proceeds.