nuclear-news

Centennial uranium project not likely to go ahead

Powertech USA President Richard Clement said earlier this year that the Fukushima Daiichi nuclear power plant disaster in Japan shook the uranium market enough to give Powertech pause when considering the future of the Centennial Project.

Powertech writes off millions after uranium mine land deal collapses, Coloradoan.com. 11 Aug 11, Powertech Uranium Corp. has written off $2.3 million it lost when a Centennial Project land deal with two Northern Colorado landowners fell through in June.

The British Columbia-based company had the option to purchase 3,585 acres from Howard and Donna Diehl of Carr and Thomas and Dianna Varra of Nunn for $11.45 million. Powertech chose not to purchase the land when the option agreement expired, shrinking the size of the Centennial Project by half and reducing the available uranium at the site by 1.1 million pounds….

As to the future of the Centennial Project, Powertech USA President Richard Clement said Thursday …..“We’re focusing our efforts and finances because of problems with the market, Fukushima and everything else made money hard to come by,”

He said earlier this year that the Fukushima Daiichi nuclear power plant disaster in Japan shook the uranium market enough to give Powertech pause when considering the future of the Centennial Project.– http://www.coloradoan.com/article/20110811/UPDATES01/110811017/Powertech-writes-off-millions-after-uranium-mine-land-deal-collapse?odyssey=tab|topnews|text|News

August 12, 2011 - Posted by Christina Macpherson | business and costs, Uranium, USA