Energy Fuels Receives Re-issued License for Proposed Pinon Ridge Mill
26 Avril 2013 - 12:22AM
Marketwired
Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company") is
pleased to announce that today the Colorado Department of Public
Health and Environment ("CDPHE") re-issued the final Radioactive
Materials License (the "License") for the Company's proposed Pinon
Ridge Mill (the "Mill"). When built, the Pinon Ridge Mill would be
the first new uranium mill in the United States constructed in over
30 years. Energy Fuels also owns and operates the White Mesa Mill
near Blanding, Utah, which is the only operating uranium mill in
the United States.
As was previously announced, CDPHE first issued Energy Fuels a
radioactive materials license for the Pinon Ridge Mill in March
2011. Soon thereafter, a non-government organization filed suit
against the State of Colorado seeking to nullify this license. In
June 2012, Denver District Court Judge John N. McMullen issued a
decision upholding the previously issued license decision on 10 of
the 11 substantive environmental, health and safety claims.
However, the license was set aside pending the completion of an
administrative hearing that would offer the public the opportunity
to provide further comment and information on the proposed mill and
allow parties to the hearing the opportunity to initiate discovery
and to cross-examine witnesses. In August and September 2012, the
Town of Telluride, the Town of Ophir and San Miguel County,
Colorado and several non-government organizations were granted
party status in the administrative hearing.
In October 2012, Energy Fuels entered into an agreement with the
Town of Telluride and San Miguel County, Colorado on various issues
including environmental protection, transportation, and financial
assurance. As a part of this agreement, Energy Fuels agreed to
maintain a minimum of $15 million of financial assurance with the
State of Colorado upon Mill commissioning. Based on that agreement,
the Town of Telluride and San Miguel County agreed not to further
oppose Energy Fuels' license application.
The administrative hearing took place over the course of six
days in November 2012 in Nucla, Colorado and offered the public an
extensive opportunity to offer comment on the Mill and for the
parties to question CDPHE's Radiation Program staff and Energy
Fuels' environmental staff and consultants. In January 2013, the
hearing officer issued a decision finding that the administrative
hearing fully satisfied the requirements of Colorado law. The
non-government organizations appealed this finding to the Executive
Director of CDPHE, Dr. Chris Urbina, in January 2013. In February
2013, Dr. Urbina upheld the hearing officer's decision, clearing
the way for today's License re-issuance.
The License includes conditions that specify additional
requirements that Energy Fuels will be required to meet prior to
the beginning of Mill construction, before the start of operations,
during Mill operations, and during Mill decommissioning (as
applicable). These conditions include requirements for submittal of
detailed designs and plans, monitoring and testing, training,
reporting, and financial assurance.
Steve Antony, President and CEO of Energy Fuels, commented,
"With the re-issuance of this license, Energy Fuels is in a
position to expand uranium production capacity on the Colorado
Plateau as market conditions warrant. Acquisition of this license
is a testament to the hard work and perseverance of our
environmental and legal staff that has been working on this project
since the Pinon Ridge property was acquired in July 2007. The
Company considers the License to be a valuable addition to its
portfolio of assets."
About Energy Fuels: Energy Fuels is America's largest
conventional uranium producer, supplying approximately 25% of the
uranium produced in the U.S., and is also a significant producer of
vanadium. The company operates the White Mesa Mill, which is the
only conventional uranium mill currently operating in the U.S.,
capable of processing 2,000 tons per day of uranium ore. Energy
Fuels has projects located throughout the Western U.S., including
producing mines and mineral properties in various stages of
permitting and development.
This news release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended and "Forward Looking Information"
within the meaning of applicable Canadian securities legislation,
which may include, but is not limited to, statements with respect
to the future financial or operating performance of the Company and
its projects. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "expects" "does not expect", "is expected", "is likely",
"budget" "scheduled", "estimates", "forecasts", "intends",
"anticipates", "does not anticipate", or "believes", or variations
of such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur", "be achieved" or "have the potential to". All statements,
other than statements of historical fact, included herein are
generally considered to be forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
express or implied by the forward-looking statements. Factors that
could cause actual results to differ materially from those
anticipated in these forward-looking statements are described under
the caption "Risk Factors" in the Company's Annual Information Form
dated December 20, 2012, which is available for view on the System
for Electronic Document Analysis and Retrieval at www.sedar.com.
Forward-looking statements contained herein are made as of the date
of this news release and the Company disclaims, other than as
required by law, any obligation to update any forward-looking
statements whether as a result of new information, results, future
events, circumstances, or if management's estimates or opinions
should change, or otherwise. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements.
Contacts: Energy Fuels Inc. Curtis Moore Investor Relations
(303) 974-2140 or Toll free:
1-888-864-2125investorinfo@energyfuels.com www.energyfuels.com
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