diff --git a/Beamer/Images/Price_Histogram.png b/Beamer/Images/Price_Histogram.png new file mode 100644 index 0000000..488030b Binary files /dev/null and b/Beamer/Images/Price_Histogram.png differ diff --git a/Beamer/Images/Price_Shock.jpeg b/Beamer/Images/Price_Shock.jpeg new file mode 100644 index 0000000..e3680a9 Binary files /dev/null and b/Beamer/Images/Price_Shock.jpeg differ diff --git a/Beamer/Images/SUPPLY_PLOT.jpeg b/Beamer/Images/SUPPLY_PLOT.jpeg new file mode 100644 index 0000000..813c64a Binary files /dev/null and b/Beamer/Images/SUPPLY_PLOT.jpeg differ diff --git a/Beamer/Images/TDS_Wyoming.jpeg b/Beamer/Images/TDS_Wyoming.jpeg new file mode 100644 index 0000000..00fdeb2 Binary files /dev/null and b/Beamer/Images/TDS_Wyoming.jpeg differ diff --git a/Beamer/Images/UR_Supply_Reg_Table.png b/Beamer/Images/UR_Supply_Reg_Table.png new file mode 100644 index 0000000..8a0c870 Binary files /dev/null and b/Beamer/Images/UR_Supply_Reg_Table.png differ diff --git a/Beamer/In_Situ_Presentation.nav b/Beamer/In_Situ_Presentation.nav index 7d986a8..8a3ef8e 100644 --- a/Beamer/In_Situ_Presentation.nav +++ b/Beamer/In_Situ_Presentation.nav @@ -18,8 +18,12 @@ \headcommand {\beamer@framepages {12}{17}} \headcommand {\slideentry {0}{0}{10}{18/21}{}{0}} \headcommand {\beamer@framepages {18}{21}} -\headcommand {\beamer@partpages {1}{21}} -\headcommand {\beamer@subsectionpages {1}{21}} -\headcommand {\beamer@sectionpages {1}{21}} -\headcommand {\beamer@documentpages {21}} -\headcommand {\gdef \inserttotalframenumber {10}} +\headcommand {\slideentry {0}{0}{11}{22/27}{}{0}} +\headcommand {\beamer@framepages {22}{27}} +\headcommand {\slideentry {0}{0}{12}{28/30}{}{0}} +\headcommand {\beamer@framepages {28}{30}} +\headcommand {\beamer@partpages {1}{30}} +\headcommand {\beamer@subsectionpages {1}{30}} +\headcommand {\beamer@sectionpages {1}{30}} +\headcommand {\beamer@documentpages {30}} +\headcommand {\gdef \inserttotalframenumber {12}} diff --git a/Beamer/In_Situ_Presentation.snm b/Beamer/In_Situ_Presentation.snm index e69de29..b1da17a 100644 --- a/Beamer/In_Situ_Presentation.snm +++ b/Beamer/In_Situ_Presentation.snm @@ -0,0 +1 @@ +\beamer@slide {EQPROFITALL}{28} diff --git a/Beamer/In_Situ_Presentation.tex b/Beamer/In_Situ_Presentation.tex index e0893fd..3ab7d4c 100644 --- a/Beamer/In_Situ_Presentation.tex +++ b/Beamer/In_Situ_Presentation.tex @@ -124,4 +124,96 @@ \end{itemize} \end{enumerate} \end{frame} +%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% +\begin{frame} + \frametitle{Comparing Restoration Benefits and Costs} + \only<1>{ + Areas with high TDS (in red) have a \emph{low cost} of restoration. + Most Wyoming uranium resources are in clean aquifers raising costs. + \includegraphics[width=\textwidth]{Images/TDS_Wyoming.jpeg}\footnote{\tiny Data used comes from \citep{eia2020a,wyomingstategeologicalsurvey2024}. TDS is interpolated with regional smoothing.} +} +\only<2>{ + Uranium resources are typically in rural parts of the State. + Low land prices in these areas suggest mining is the highest values use. + \centering + \includegraphics[width=0.6\textwidth]{Images/Price_Histogram.png}\footnote{\tiny Data used comes from \citep{eia2020a,wyomingstategeologicalsurvey2024}. TDS is interpolated with regional smoothing.} +} +\only<3-4>{ +\textbf{Results} + +\onslide<3>{Operating plans of five mines were reviewed. + \begin{itemize} + \item{Adds \$4.3 dollar's per pound produced.} + \begin{itemize} + \item{Cost vary by geology. \$1.6-\$10.84 per pound} + \end{itemize} + \item{Average of \$15 million per project} + \item{A discount of 10\% was assumed which reduces industry estimates of cost} +\end{itemize}} +\onslide<4>{ + Wyoming land values over a uranium resource. + \begin{itemize} + \item{Weighted average weighted price of \$239 per acre} + \item{Average mine lease area of 13,750 acres} + \item{Total expected value of land of \$3.29 million dollars} + \end{itemize} +} + +} +\only<5>{Average restoration costs are \emph{4.5 times larger} than the value of land for a typical in situ mine. +\newline + +Even under the strongest assumptions it is not plausible that the restoration costs are efficient. +\newline + +Hedonic models predict land value changes between 0.3\% and 15\% of total value\footnote{\tiny\citep{guignet2015,mukherjee2014}}. +} +\only<6>{ + Other factors suggest the actual cost is nearly zero. + \begin{itemize} + \item{Most mines are on ranches, not farms or urban areas} + \item{High groundwater quality provides alternative sources} + \item{Water is restored naturally over time} + \item{Home filtration may be more cost effective} + \end{itemize} + +} +\end{frame} + +\begin{frame} +\frametitle{Mining Model } +\only<1>{ + \tiny +\begin{equation} + \label{EQPROFITALL} + \pi=\sum_{t=0}^{T}\left[\left( P_{ur} \cdot \left(W_{t}^{\alpha}-W_{t-1}^{\alpha}\right)-\left(C_{Drill}+C_{Res}\right)\cdot\left(W_{t}-W_{t-1}\right)\right)\frac{1}{(1+r)^t}\right]-C_{Facility} + \end{equation} +Subject to: \(\beta\cdot C_{Facility}\ge W_{t}^{\alpha}-W_{t-1}^{\alpha}\), and \(\gamma_{Drill}\ge W_{t}^{\alpha}-W_{t-1}^{\alpha}\) +\newline +\normalsize +Where \(P_{ur}\) is the price of uranium, \(W_{t}\) is the total number of wells drilled in a aquifer at time \emph{t}, \(\alpha\) is a constant between zero and one representing the decline in ore grade across the reservoir, \(C_{Drill}\) is the cost to drill a well, \(C_{Res}\) is the cost to restore the water affected by a well, \emph{r} is the yearly discount rate of the firm, \(C_{Facility}\) is the investment cost in the uranium processing facility, \(\beta\) is a factor that converts the dollars spent to construct a uranium processing facility to output capacity, and \(\gamma_{Drill}\) is the maximum available drilling capacity in the region. +} +\only<2>{ +\begin{equation} + \label{EQPROFIT} + \pi_{w}=\int_{t=0}^{T}\left[ \left(P_{ur}\cdot q_{i}\cdot e^{-Dt}-C_{op}\right)e^{-rt}\right] \,dt-C_{Drill}-C_{Res}\cdot e^{-rT} \ +\end{equation} +Where \emph{D} is the decline rate of the well, and r is the instantaneous private discount rate. Since the terminal time \emph{T} is a choice variable the optimal time to operate the well can be found with: +} +\only<3>{ +\begin{equation} + \label{EQINFWELL} + T^{\star}=\frac{\ln(P_{ur})+\ln(q_{i})-\ln(C_{op}-r C_{Res})}{D} +\end{equation} +\begin{equation} + \label{TIMEDIFF} + \Delta T^{\star}=\frac{\ln(C_{op}-r C_{Res})-\ln(C_{op})}{D} +\end{equation} +} + + +\end{frame} + + + \end{document} diff --git a/Beamer/Supporting/Beamer.bib b/Beamer/Supporting/Beamer.bib index 757b3de..5b7de82 100644 --- a/Beamer/Supporting/Beamer.bib +++ b/Beamer/Supporting/Beamer.bib @@ -7915,6 +7915,21 @@ pagetotal = {105} } +@report{gebben2024a, + title = {Wyoming’s {{Nuclear Supply Chain Opportunities}} and {{Challenges}}: {{COMPONENT MANUFACTURING}}}, + shorttitle = {{{COMPONENT MANUFACTURING}}}, + author = {Gebben, Alexander and Peck, Michael}, + editor = {Brighton Fornstrom, Kara}, + editortype = {redactor}, + namea = {Sayandeep, Paul}, + nameatype = {collaborator}, + date = {2024-05}, + number = {\#2}, + institution = {{The Center for Energy Regulation and Policy Analysis}}, + location = {University of Wyoming}, + url = {https://uwy-my.sharepoint.com/:b:/g/personal/skaufma3_uwyo_edu/EVjf6gpPCP1HoWnMc61ELD0BN982HVtZnIe9alLAXdb2rQ?e=f9p9Tb} +} + @online{geisler2020, title = {{{TerraPower}} Announces Plan to Invest in Domestic Advanced Nuclear Fuel Production to Ensure {{U}}.{{S}}.-Based Fuel Supply for Advanced Reactors}, author = {Geisler, Lindsey}, @@ -8768,6 +8783,20 @@ keywords = {Groundwater flow,Hydrology,Rio Grande Watershed (Colo.-Mexico and Tex.)} } +@book{heathgateresources1998, + title = {Beverley {{Uranium Mine}}: {{Environmental Impact Statement}} : {{Main Report}}}, + shorttitle = {Beverley {{Uranium Mine}}}, + author = {{Heathgate Resources}}, + date = {1998}, + eprint = {pm0zPQAACAAJ}, + eprinttype = {googlebooks}, + publisher = {Heathgate Resources}, + isbn = {978-0-646-35715-7}, + langid = {english}, + pagetotal = {250}, + keywords = {Technology & Engineering / Mining} +} + @article{heberling2024, title = {Hedonic Property Values and Water Quality: {{A}} Meta-Analysis of Commodity, Market, and Methodological Choices}, shorttitle = {Hedonic Property Values and Water Quality}, @@ -17875,7 +17904,7 @@ INIS Reference Number: 27014297} @online{usepa2015, type = {Overviews and Factsheets}, title = {Class {{III Injection Wells}} for {{Solution Mining}}}, - author = {family=US EPA, given=OW, given-i=OW}, + author = {{US EPA}}, date = {2015-03-31T10:32:26-04:00}, url = {https://www.epa.gov/uic/class-iii-injection-wells-solution-mining}, urldate = {2024-03-12}, @@ -17886,7 +17915,7 @@ INIS Reference Number: 27014297} @online{usepa2015a, type = {Other Policies and Guidance}, title = {Aquifer {{Exemptions}} in the {{Underground Injection Control Program}}}, - author = {family=US EPA, given=OW, given-i=OW}, + author = {{US EPA}}, date = {2015-04-30T15:46:39-04:00}, url = {https://www.epa.gov/uic/aquifer-exemptions-underground-injection-control-program}, urldate = {2024-03-12}, @@ -17897,7 +17926,6 @@ INIS Reference Number: 27014297} @online{usepa2015b, type = {Overviews and Factsheets}, title = {Class {{III Injection Wells}} for {{Solution Mining}}}, - author = {family=US EPA, given=OW, given-i=OW}, date = {2015-03-31T10:32:26-04:00}, url = {https://www.epa.gov/uic/class-iii-injection-wells-solution-mining}, urldate = {2023-09-28}, @@ -17908,7 +17936,7 @@ INIS Reference Number: 27014297} @online{usepa2015c, type = {Overviews and Factsheets}, title = {Class {{IV Shallow Hazardous}} and {{Radioactive Injection Wells}}}, - author = {family=US EPA, given=OW, given-i=OW}, + author = {{US EPA}}, date = {2015-04-01T15:05:30-04:00}, url = {https://www.epa.gov/uic/class-iv-shallow-hazardous-and-radioactive-injection-wells}, urldate = {2023-09-28}, @@ -18364,6 +18392,14 @@ INIS Reference Number: 27014297} } @misc{wichers2024a, + author = {Gebben, Alexander}, + namea = {Wichers, Donna}, + nameatype = {collaborator}, + date = {2024-06-13}, + langid = {english} +} + +@misc{wichers2024b, title = {Personal {{Interview}} with {{Vice}} President of {{Wyoming}} Operations of {{Uranium Energy Corp}}.}, author = {Wichers, Donna}, date = {2024-06-13}, @@ -18915,6 +18951,15 @@ INIS Reference Number: 27014297} file = {/home/alex/Zotero/storage/6RREL42G/gis.html} } +@dataset{wyomingstategeologicalsurvey2024, + title = {Groundwater {{Atlas}} of {{Wyoming}}}, + author = {{Wyoming State Geological Survey}}, + date = {2024}, + url = {https://portal.wsgs.wyo.gov/arcgis/apps/webappviewer/index.html?id=181c32a872a346bfae3579a62230a65a}, + urldate = {2024-06-27}, + file = {/home/alex/Zotero/storage/RMBMPZLZ/index.html} +} + @misc{wyomingtaxpayersassociation2020, title = {Wyoming {{Tax Summary}} \& {{How Wyoming Compares}}}, author = {{Wyoming Taxpayers Association}}, @@ -19888,3 +19933,20 @@ INIS Reference Number: 27014297} langid = {english}, file = {/home/alex/Zotero/storage/TMXBL2K3/0376835032000149270.html} } + +@online{zotero-8151, + title = {{{OneDrive}}}, + url = {https://uwy-my.sharepoint.com/personal/skaufma3_uwyo_edu/_layouts/15/onedrive.aspx?id=%2Fpersonal%2Fskaufma3%5Fuwyo%5Fedu%2FDocuments%2FWebsite%20PDFs%2Fnuclearcomponent24%2Dpaper%2Epdf&parent=%2Fpersonal%2Fskaufma3%5Fuwyo%5Fedu%2FDocuments%2FWebsite%20PDFs&ga=1}, + urldate = {2024-06-27}, + file = {/home/alex/Zotero/storage/KB7KSHWY/onedrive.html} +} + +@report{zotero-8154, + title = {Beverley {{Uranium Mine}} : Environmental Impact Statement : Main Report / {{Heathgate Resources Pty}}. {{Ltd}}.}, + shorttitle = {Beverley {{Uranium Mine}}}, + url = {https://collection.sl.nsw.gov.au/record/74VM4gqL7DPX}, + urldate = {2024-06-27}, + abstract = {1 v. (various pagings) ; col. ill., col. maps ; 30 cm.}, + langid = {english}, + file = {/home/alex/Zotero/storage/IIY7PTKK/74VM4gqL7DPX.html} +}