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Uranium Company Statements Face Scrutiny By Canadian Agency

Associated Press0

RAPID CITY, S.D. (AP) — A company that hopes to mine for uranium in western South Dakota has been required by a Canadian regulatory agency to clarify some of its optimistic assessments of the prospects for the Dewey-Burdock mine near Edgemont.

The Rapid City Journal reports ( ) that the British Columbia Securities Commission ordered the clarification. Azarga Uranium complied, saying “there is no certainty that the preliminary economic assessments will be realized.”

Azarga’s stock price dropped after the clarification. But Dewey-Burdock project manager Mark Hollenbeck downplays its significance. He says the project is getting more scrutiny because of outspoken opposition to it.

The proposed mine within a 17-square-mile site is projected to recover 1 million pounds of uranium annually for eight years.

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Information from: Rapid City Journal,

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