US Energy Moves Closer to Mining at Mount Emmons

The Denver Post reported that the US Forest Service has approved US Energy Corp.’s (NASDAQ:USEG) mine plan of operations for its Colorado-based Mount Emmons molybdenum project. The company has been trying to mine the project’s Red Lady mineral deposit since 1970, but until now has met with opposition from residents.

As quoted in the market news:

The U.S. Forest Service’s approval sets the stage for an environmental-impact statement.

“This is still preliminary,” said Lee Ann Loupe, a Forest Service spokeswoman. “It will take some time to determine the next steps. It is a lengthy process.”

The Forest Service and the company will meet in the next several weeks to discuss the project, Loupe said.

Click here to read the full report from The Denver Post.