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Show Bennett Urges AiC to Explore For New Uranium Deposits Sen. Wallace F. Bennett, R-Utah, R-Utah, a member of the Joint Committee on Atomic Energy, Ener-gy, this week he would support sup-port the Atomic Energy Commission's Com-mission's authorization re- quest, at the same time urg- 3 ing the Commission to expedite expe-dite and support exploration activities now before we become be-come caught with a severe uranium shortage." Bennett made the remarks as the Joint Committee began hearings on the AEC fiscal year 1959 budget request which includes $12,187,000 for Utah programs. The bulk of the Utah funds, $10,504,000 will be for raw material pur-' chases, the Senator said. "Some 100 companies are currently conducting exploration explor-ation and drilling for new 'supplies of uranium," Sen. Bennett said. "Drilling reached reach-ed a total 10.7 million feet in calendar year 1967, some two and a half times the total in 1966." Bennett said, "We learned from the director of the division div-ision of raw materials, Raf-ford Raf-ford L. Faulkner, that there have been a number of encouraging en-couraging reports on the results re-sults of the vast exploration program under way in more than 30 states; however, it is, a bit early for a meaningful overall appraisal of success." The AEC pointed out at the hearing last week that uranium uran-ium procurement during fiscal fis-cal year 1969 is projected at 7,960 tons of U308, all to be acquired from domestic sources. sour-ces. "These purchases during the first half of the fiscal year at $8 per pound will complete delivery of the uranium ur-anium deferred from the pre-1967 pre-1967 period," Sen. Bennett said. "We understand thpt purchases during the last half of the year will be at a formula for-mula based upon costs experienced exper-ienced by the producers dur-t ing the 1963-68 period or on the average of about $5.90 per pound U308." Sen. Bennett said, "That the uranium industry is on its way to a major comeback can be found in the statistics presented today which- showed show-ed that cumulative domestic uranium requirements thru 1980 are estimated at about 250,000 tons. Cumulative requirements re-quirements a year ago were estimated at 170,000 tons." He said, "Annual requirements require-ments will approach 40,000 tons in 1980 compared to Tast year's estimate of 28,000 tons." Sen. Bennett said, "I am hopeful and most experts in the field agree, we probably will not have the 'boom and bust' situation that we had in the 1950's. I feel that any increase in-crease in uranium activity in Utah and the west will be gradual, steady, and more or less permanent." He said, "This is borne out bv the fact that the AEC said that an average discovery rate of about 35,000 tons a year must be maintained through 1980 to meet present goals. A year ago a discovery rate of less than 20,000 tons per year would have sufficed." "To meet these demands we will require the discovery in areas not now known to be rich in uranium and in certain cer-tain environments not presently pres-ently regarded as favorable.", he said. "A heavy investment in new exoloration and pro- . duction facilities will be r-ou'red, r-ou'red, and it is uo to the AEC and private industry to see to it that the effort is cootmrative, efficient and successful." |