Uravan Mineral Belt Uranium/Vanadium Operations - Cotter has acquired numerous uranium/vanadium properties in the Uravan Mineral Belt of western Colorado, and currently owns or controls 15 uranium/vanadium mines in southwest Colorado. Combined recoverable reserves for the properties are approximately 20 million pounds U3O8 (7,700 mtU) and 100 million pounds (45,400 tonnes) V2O5. Uranium/vanadium ores occur in channel sandstones mineable primarily by underground methods. Presently, all the western Colorado operations are on standby status.
Schwartzwalder Mine, Colorado Cotter acquired the Schwartzwalder mine in 1965. The property was developed as a multi-level, hard rock underground mine. Uranium mineralization occurs in steeply-dipping veins within Precambrian gneisses and schists. Total production from the Schwartzwalder has been approximately 17 million pounds U3O8 (6,500 mtU), with additional resources of 16 million pounds U3O8 (6,150 mtU) identified. Based on long-term forecasts for a weak uranium market, the decision has been made to place the mine on temporary standby and begin reclamation of the property.
Wyoming Uranium Properties - Cotteršs uranium holdings in Wyoming are the undeveloped Charlie and Taylor Ranch deposits. Both properties are located in the Southern Powder River Basin in northeast Wyoming. The Charlie deposit, owned 100% by Cotter, contains 4.2 million pounds U3O8 (1,610 mtU). Cotter Corporation owns a 50% interest in the Taylor Ranch deposit through a joint venture with Cameco Corporation. Cotteršs share of the Taylor Ranch uranium reserves is 5.0 million pounds U3O8 (1,900 mtU).