Lower oil prices may slow uranium exploration in Mississippi County

CHARLESTON, Mo. -- Dropping oil prices are slowing down but not halting uranium development plans in Mississippi County, according to Commissioner Martin Lucas.

Lucas said during the regular county commission meeting Thursday that investors backing efforts to set up a uranium recovery operation in the county are using money from oil and natural gas to fund their efforts in Mississippi County.

While dropping oil prices may affect the speed of development, Lucas said the future for uranium looks good as president-elect Barack Obama has spoken in favor of nuclear power.

"Actually uranium prices have gone up," Lucas said.

Lucas said geologists are slated to begin well water testing in the county to determine the location of uranium deposits in the county.