Revoking the ban would have resulted in the development of 26 new uranium mines and 700 uranium exploration projects.
Grand Canyon Mining News
Uranium resources in the so-called Arizona Strip represent about 40% of the US reserves.
Energy Fuels Resources cited weak uranium prices and litigation expenses as main reasons.
Canadian Energy Fuels Resources aims to restart its Canyon Mine by 2015.
Canadian mining company Quaterra Alaska and county supervisors in northern Arizona have filed a lawsuit against the US government, aiming to reverse a federal 20-year closure of one million acres of uranium-rich public lands located near the Grand Canyon.
The U.S. Nuclear Energy Institute and the National Mining Association (NMA) are demanding the Obama administration to revoke a ban on new uranium mining around the Grand Canyon in Arizona. And they are doing so by suing the U.S. Interior Department, as the organizations announced yesterday.