RICHMOND - A Virginia company that wants to mine uranium from a deposit in Pittsylvania County plans to partner with a Canadian company for the project.
Virginia Uranium Incorporated has announced the intentions of a merger with Santoy Resources of British Columbia, Canada.
If approved and completed, it would provide more money and expertise to help mine from the world's largest deposits of the radioactive ore worth an estimated $10 billion. The deposit is at Coles Hill, near the historic town of Chatham.
Walter Coles Sr., whose family farm sits atop the Southside uranium deposit, said the partnership is a way to raise money for the long-term future of the project.
Virginia officials are weighing whether to overturn a 25-year-old ban on uranium mining.
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