Energy Fuels gets governmental green light for La Sal Complex expansion

A leading integrated US-based uranium mining company has announced that plans to expand one of its largest uranium and vanadium mining complexes has bee given the all important governmental approval.

Energy Fuels, holder of America’s three key uranium production centres, announced in a statement this week that it had received approval from the US Bureau of Land Management and US Forest Service for the expansion of ita 100% owned La Sal Complex of uranium/vanadium mines.

The La Sal Complex is a series of several past producing uranium and vanadium mines, currently on standby status in the San Juan County, Utah.

Through a number of expansion development, Energy Fuels plans to expand its development rock storage, dill up to 400 exploration holes to expand deposits, construct ventilation shafts as well as the reclamation of historic disturbances by previous mine operators.

During the 2007 to 2013-time period, 446,000 tons of mineralized material were mined from the La Sal Complex and processed at the White Mesa Mill.

According to a technical report completed in 2014, the La Sal Complex holds 1.1 million tons of Measured and Indicated Mineral Resources containing 4.1 million pounds of uranium and 21.5 million pounds of vanadium.

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Mark S. Chalmers, President and CEO of Energy Fuels, stated: “We are pleased that the BLM and USFS issued approvals for expansion of this project following a comprehensive multi-year analysis. This is particularly important, as the mines and properties comprising the La Sal Complex contain large quantities of uranium resources, along with significant high-grade vanadium resources. We have recently seen vanadium prices increase significantly, and our nearby White Mesa Mill has a long history of producing uranium and vanadium from these mines.

This project is fully-permitted and constructed, and is currently on standby status, ready to resume mining operations within approximately six months of a production decision, with minimal capital required.

We believe these approvals once again demonstrate that Energy Fuels is a responsible operator and an asset to the region. We also acknowledge and appreciate the hard work and professionalism of the BLM and USFS staff involved in the preparation of this EA. We are the largest private employer in San Juan County, Utah, including a major employer of Native Americans, and these approvals set the stage for our Company to grow in the region in the future.”