By Felicia Fonseca | The Associated Press
The only two uranium mines operating in Arizona and an associated mill in southern Utah are set to cease operations temporarily as prices for the ore decline.
Energy Fuels Resources Inc. said uranium at its Arizona One Mine in the north part of the state will be depleted in early 2014, and the nearby Pinenut Mine and the White Mesa Mill in Blanding, Utah, will be placed on standby next year.
The move comes after the company stopped short of extracting uranium at another mine south of the Grand Canyon near Tusayan and as per-pound prices for uranium on the spot market dip to a five-year low, in the mid-$30s. The company plans to maintain the sites so that they can begin operating if the uranium market improves.
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