Russia takes aim at US nuclear power by throttling uranium
Limits creates potential supply risks to utilities operating American reactors that generate almost a fifth of the country’s electricity.
Two days after the BC government compensated Boss Mining $30 million for expropriating its mining claims near Kelowna as part of a province-wide uranium mining ban in 2008, another company is pursuing a cash settlement.
BIV reports that International Montoro Resources (CVE:IMT) is proceeding with its claim against the BC government for expropriating its Cup Lake-Donen uranium deposit in April 2008. The company wants compensation for its properties after sinking $2 million into the ground says BIV.
Both companies sued the province for millions that year for effectively expropriating their mineral claims when the government declared a ban on uranium exploration and mining.
More payouts from the government could be in the offing, according to BIV: “A source familiar with the situation told BIV that a number of companies are currently advancing claims against the province regarding uranium properties.”
While the BC government has remained true to its commitment to prevent uranium mining and production of nuclear power in the province, it has also promised to expedite the development of more mines.
In unveiling the province’s job-creation strategy in September, Premier Christy Clark said the government plans to open up eight new mines in the next four years and expand nine more by 2015.
