An Inside Look At Camecos Smith Ranch Uranium Facility

Cameco Corp (NYSE: CCJ) is the 800-pound gorilla of the uranium sector. Cameco is to uranium what Wal-Mart is to retailing, and what Saudi Aramco is to petroleum. On a percentage basis, Cameco dominates its sector more so than either of the two. Cameco probably has more clout in turning off the electricity now powering your computer than any other company in the world.

This week, the spot price of uranium rose to $40/pound, for the first time since Ronald Reagan was president. That should help grow the uranium business in Wyoming by leaps and bounds. In Part 5, we look at the largest U.S. uranium producer, Cameco-owned Power Resources.

Understanding In Situ Leach Uranium Extraction

It took $284 million Canadian to build, and it operated with 546 people, said Patrick Drummond, Plant Superintendent for Cameco subsidiary Power Resources Smith Ranch facility. He was pointing to Kerr McGees Smith Ranch underground mine on the wall across from desk, which was later converted into an ISL operation, first run by Rio Algom. This operation cost US$44 million to build and 80 people to start. Drummond was referring to the In Situ Leaching (ISL) uranium extraction...