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Colorado State makes things financially easier for uranium milling company

State defers Energy Fuels’ bond deadlines Telluride Daily Planet, By Kathrine Warren August 24, 2011
As Energy Fuels wades through regulation and litigation surrounding its planned Piñon Ridge Mill, the State of Colorado announced on Tuesday that it will defer the company’s requirement to pay upcoming bonds until construction begins.

Construction on the mill in Paradox Valley, some 60 miles west of Telluride, was initially slated to begin as early as next month but it has been delayed because of a pending lawsuit in Denver’s district court.

A bond payment of roughly $2.9 million was originally due on Sept. 7, but the Radiation Program of the Colorado Department of Public Health and Environment (CDPHE) approved a request from Energy Fuels to defer the payment to March 7, 2012 because of the timeline change.

“The deferral of this substantial commitment is very good news for Energy Fuels in light of the expected and ongoing legal processes that are in the hands of the court system,” said Energy Fuels President and CEO Steve Antony in a release…..

Earlier this year Telluride’s Sheep Mountain Alliance filed a suit against the CDPHE in Denver district court arguing that state regulators violated federal and state laws when they granted Energy Fuels its radioactive materials license in January. Energy Fuels and the state tried to have the lawsuit thrown out, but a judge rejected those requests in May and the lawsuit is still pending.

The Department of Energy is also conducting a comprehensive analysis of the environmental impacts of uranium milling and mining in the area after prodding from SMA and other environmental groups…… http://www.telluridenews.com/articles/2011/08/24/news/doc4e545250dcdee207512090.txt –

August 25, 2011 - Posted by | business and costs, Uranium, USA

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