David O'Brien Gamble
Kate Fuller
Department of Mathematics and Economics
Faculty Mentors: Dr. Lothar Dohse, Dept. of Mathematics and Dr. Leah Mathews, Dept. of Economics
Uranium tailings waste, a byproduct of the uranium mining process, has been shown to pose severe threats to both humans and the environment due to its radioactive nature (Lopez-Abente Aragones and Pollan 2001, United States Environmental Protection Agency 1983, WISE Project 2002). However, while high-level waste has been researched with intensity Krauskop 1988, Carter 1987), relatively little attention has been given to low-level waste threats during the past three decades since the EPA published "Environmental Standards for Uranium and Thorium Mill Tailings at Licensed Commercial Processing Sites" stating the potential threats of radiation exposure for uranium tailings piles.
Today many waste piles exist that have been abandoned without proper disposal, potentially creating unnecessary threats to society and the environment. Our model proposes a market for uranium tailings disposal and an option for internalizing externalities into the market price of uranium. By examining the dynamics of the uranium mining market, the creation of new waste, and the ways in which the internalization of external costs affect market decisions, our model seeks to aid in the creation of a more informed uranium tailings management plan.
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