Uranium Prospectors Out in Full Force

The drilling machines never stop in Oviken, a small town in Jämtland, the mountainous region along the border of Sweden and Norway. These modern-day prospectors aren't looking for gold, though—they're looking for uranium.

Most of the world's uranium comes from Canada, Kazakhstan, and Australia. In fact, Sweden doesn't produce any uranium at all, at least not since 1969. That's when this Nordic country's one and only uranium mine closed for good amid environmental fears and production difficulties.

But interest for uranium mining in Sweden is picking up. Advances in drilling techniques and extraction processes have dramatically reduced the cost of mining, introducing the possibility of trying to mine uranium again on Swedish soil. And it's certainly a hot product—uranium is the fuel that keeps nuclear power plants going.

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