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Uranium milling company won’t be able to pay for clean-up

Cash-strapped Energy Fuels can pay for uranium mill but not for clean up « Colorado Independent, 2 June 2010, Gulf spill underlines need for companies to put aside vast sums in advance By David O. Williams 6/2/10 12 A Canadian company looking to build the first new uranium mill in the United States in nearly three decades is burning through cash at a rate that could leave it broke right about the time it hopes to secure its final approvals from Colorado public health officials.
Energy Fuels Inc., a Toronto, Ontario-based company seeking state approval for the Piñon Ridge Mill in far western Colorado, admits in its own financial filings that “there is a significant doubt as to whether the company will be able to continue as a going concern and realize its assets and pay its liabilities as they fall due.”
That lack of cash is a serious concern, say environmentalists and state public health officials. Set against the backdrop of the British Petroleum Gulf oil spill and its astronomical environmental and business costs, they say any company looking to mill uranium in Colorado has to be prepared to pay the enormous costs of catastrophe clean up and reclamation.

Environmentalists and residents of both Montrose and neighboring San Miguel counties bitterly opposed the proposed milling project during special-use permit hearings last fall. News of the thin cash reserves of the company behind the proposal is fueling further opposition.

Cash-strapped Energy Fuels can pay for uranium mill but not for clean up « Colorado Independent

June 3, 2010 - Posted by Christina Macpherson | business and costs, Canada | antinuclear, nuclear costs, nuclear wastes, radioactive, uranium