Uranium company statements face scrutiny by Canadian agency

RAPID CITY - 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 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.

(Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)



 
Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus