Energy Fuels plans to permit the proposed Piñon Ridge uranium mill and then shelve the project for better times

nukeplantcattenomfrance

From The Durango Herald (Joe Hanel):

Energy Fuels Resources Inc. will keep holding its license to build the Piñon Ridge uranium mill in the Paradox Valley of Montrose County, but it has no plans to act on the license, said President and CEO Stephen Antony.

“We intend to keep that license in a current, valid form, but not move on construction of the mill until market conditions support it,” Antony said.

The statement is old news to uranium experts, but it comes as a surprise to some Coloradans.

The company’s Piñon Ridge website says, “Energy Fuels anticipates starting construction in late 2012 or 2013.” And its plan on file with the Colorado Department of Public Health and Environment calls for the mill west of Naturita to be operational by early 2017, with construction beginning in 2015.

Warren Smith, a community involvement manager for the state health department, said Energy Fuels has not contacted his department with any plans to deviate from the schedule it has submitted. The license is valid for five years.

But uranium market analysts have known since Energy Fuels bought the White Mesa uranium mill in Utah that the company has put Piñon Ridge on the back burner. In fact, the company said so itself in a little-noticed statement in December 2012. It came in an annual report filed with financial regulators in Canada, where Energy Fuels is incorporated.

“With the recent acquisition by the Company of the White Mesa Mill, the Company no longer needs to construct the Piñon Ridge Mill in order to meet its planned production for the foreseeable future. Therefore, the Company does not intend to proceed with construction of the mill at this time,” the report said.

More nuclear coverage here and here.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.