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Interest in potash? Or in uranium?

Several years ago, there was a lot of interest in potash deposits in north central North Dakota.

Potash is a popular agricultural fertilizer.

At the time, the interest was driven by price.

"For about 25 years or so, it had been about $100 a ton," said state geologist Ed Murphy. "Then it jumped up to about $1000."

Murphy says that happened in 2007. But he says the 2008 recession caused the price to drop – where it’s now about $300 per ton. Murphy says it appears the interest isn’t as high now. But he says that could change.

"Companies are award that over the past two years, we've been putting a report together," said Murphy. "We were told by some companies that they were just waiting for that report, to see what we would come up with."

Murphy says the report will show some areas in northwestern North Dakota that companies may wat to focus on.

Murphy says that report should be ready by the end of October.

Meanwhile, back in 2008, interest was rekindled in North Dakota’s uranium deposits. But since that time, the interest has waned.

Murphy says an Australian company started looking at the deposits. But Murphy says not much has happened with that. One of the reasons is price.

"For decades, the price sat around $10 a pound," said Murphy. "In 2007, it jumped to around $140 a pound. Since then, the price has dropped to close to $35 a pound."

Murphy says the tsunami in Japan – which destroyed a nuclear power plant – has slowed the enthusiasm for new nuclear plants.

"Some of the plants which were on paper have been delayed," said Murphy. "Also, nuclear plants have been getting more efficient."

Murphy says his department has identified where the uranium deposits are in North Dakota – so companies who are interested can more easily find those deposits.