Fuel cycle roundup #21

Friday, 7 March 2014

NRC issues Ross SEIS

The US Nuclear Regulatory Commission (NRC) has issued the final supplemental environmental impact statement (SEIS) for the proposed Ross uranium project in Wyoming, concluding that there are no environmental impacts that would preclude the licensing of the project. The SEIS is the final hurdle before Peninsula Energy subsidiary Strata can receive a Source and Byproduct Material Licence (SML). NRC's target date for the SML, which will conclude the licensing process for Peninsula's Lance in-situ leach projects, is the end of March.

Pre-licence construction began at Ross in October 2013. Peninsula executive chairman Gus Simpson said that the expected granting of the SML would leave a "clear path" to production.

Powertech-Azarga merger agreed

Vancouver-based Powertech Uranium Corp is to merge with its strategic investor Azarga Resources, changing its name to Azarga Uranium Corp. Hong Kong-based Azarga has been Powertech's largest shareholder and main financier since last August, currently owning 45% of Powertech's shares. The transaction, which would see Azarga become a wholly-owned subsidiary of Powertech, is expected to be completed by 31 July.

Powertech's projects across South Dakota, Wyoming and Colorado include the Dewey-Burdock ISL project, which received environmental approval from the NRC in January. According to Powertech, Azarga's "significant" interests in uranium deposits in Kyrgyzstan, Turkey and the USA will reduce the company's exposure to permitting risk at Dewey Burdock.

Temrezli feasibility study funded

Anatolia Energy has announced that it is now fully funded to complete a pre-feasibility study of the Temrezli uranium project in Turkey, thanks to $1 million raised through the first tranche of a "put option" agreement with Azarga Resources. Azarga's shareholding in Anatolia has risen to 15.1% as a result. Proceeds will be used to fund the study and prepare an environmental impact statement for Temrezli.

Anatolia has an option to raise a further $1 million from Azarga through a second tranche of the agreement which may be exercised between 31 March and 31 December 2014.

Toro seeks additional Wiluna approval

Toro Energy has started the government assessment and approval process to allow it to mine additional deposits at is Wiluna uranium project in Western Australia. The company is seeking to mine the Millipede and Lake Maitland deposits. The company already has approval to establish a processing facility at Centipede, which is adjacent to Millipede, and to commence mining at the Centipede and Lake Way deposits.

Toro managing director Vanessa Guthrie said the company was hopeful that the environmental assessment process for Millipede and Lake Maitland could be completed by mid-2016.

Quaterra bows out of uranium

Vancouver-based junior exploration company Quaterra Resources has announced that it has agreed to sell all of its uranium properties and assets in Arizona, Utah and Wyoming for CAD500,000 ($455,000) in order to concentrate on its copper interests. It has not named the buyer.

Quaterra has previously claimed to have spent almost $12 million on exploration and development work on its 1000 mineral claims in the Arizona Strip, but it ceased exploration work on its properties in 2009. In 2012, the company filed a joint lawsuit against the US government in an attempt to overturn a 20-year ban on uranium mining on federal lands in northern Arizona.

Researched and written
by World Nuclear News