Welcome!

News Feed Item

Powertech: ASLB Issues a Temporary Stay

GREENWOOD VILLAGE, CO -- (Marketwired) -- 05/07/14 -- Powertech Uranium Corp. (TSX: PWE) (FRANKFURT: PSA) ("Powertech" or the "Company") announces that on April 30th, 2014, the Nuclear Regulatory Commission Atomic Safety and Licensing Board ("ASLB") issued a temporary stay on the license granted to Powertech earlier in the month by the United States Nuclear Regulatory Commission ("NRC"). There have been a number of inquiries about the meaning of the temporary stay and Powertech offers this press release to clarify the significance of the temporary stay.

Powertech has applied to the NRC for a license to conduct uranium in situ recovery operations on its Dewey-Burdock project located in Southwestern South Dakota. After several years of technical review of all the environmental and safety issues associated with the Dewey-Burdock project, the NRC determined that there would be no harmful effects generated through the operations of Powertech on the Dewey-Burdock project. With that determination, the NRC granted Powertech an operating license for in situ uranium recovery on April 8, 2014.

In order to understand all the issues involved at this point in the licensing process, it would be best to describe the overall process and how the current stay of the license fits into the NRC regulations.

When a company applies to the NRC for a license to recover uranium from uranium deposits it prepares two documents, a technical report and an environmental report. The technical report forms the basis of a determination that the company has knowledge of all technical issues involved in the production and processing of radioactive materials. The environmental report discusses the environmental details of the project area and identifies all aspects of the site that could be affected by an in situ recovery operation. These reports are then published on the NRC's web site and it is announced that any member of the public who has an interest in the local area or the process of producing uranium and feels that there are issues that should be considered, may petition the NRC for a hearing. Because the NRC staff has not, at that time, drawn conclusions about the adequacy of the applications, the hearing is postponed until after the NRC has completed its review and issued the license. The hearing that is requested is a formal evidentiary presentation to the ASLB. This hearing has previously been scheduled to take place, based on prior petitions filed, during the week of August 18, 2014 at a site near the proposed operation.

To ensure that all issues are considered during the licensing process and that any concerns the public may have are adequately addressed, the licensing process is designed to provide multiple avenues for people who are opposed to the development of uranium to have an opportunity to have their concerns voiced and considered by the licensing bodies.

One of those avenues is that, within 5 days of the license being granted by the NRC, the NRC's regulations provide that the parties who originally filed in opposition to the development of uranium at Dewey-Burdock are then able to file a request for stay on the granting of the license to the ASLB. Two groups have filed this request. Powertech's attorneys and General Counsel for the NRC subsequently filed arguments refuting the stay request. As a result of these arguments and counter arguments, the ASLB has decided to hear oral arguments during the week of May 12, 2014 to determine whether Powertech's license can continue to be fully active or whether the stay will remain in place until the formal hearing that takes place during the week of August 18, 2014.

This process and these hearings are not abnormal and are simply a product of the licensing regime and process. They are not unique to the Dewey-Burdock project. Both Powertech's attorneys and, we anticipate, the General Counsel for the NRC will vigorously defend the license as it currently stands. Powertech and the NRC believe that all contentions have been fully addressed in the documents that formed the basis for grant of the license.

In addition to the license from the NRC, Powertech has applied for permits from the U.S. Environmental Protection Agency (EPA) and the mining and water boards of the State of South Dakota. The South Dakota technical staffs have recommended that permits be granted and the EPA is currently preparing draft permits for public comment. Before Powertech can begin operations, all these permits are required to be issued. Powertech expects that these permits will be issued by the end of 2014.

About Powertech Uranium Corp.

Powertech Uranium Corp. is a mineral exploration and development company that, through its Denver-based subsidiary Powertech (USA), Inc., holds the Dewey-Burdock Uranium Deposit in South Dakota, the Centennial Project in Colorado and the Dewey Terrace, Savageton and Aladdin Projects in Wyoming. For more information, please visit http://www.powertechuranium.com.

POWERTECH URANIUM CORP.

Per: "Richard F. Clement"
Richard F. Clement Jr.,
President& CEO

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's ability to defend the license issued by the NRC, and the Company's ability to obtain the permits from the EPA and approvals from the State of South Dakota. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) any negative change in the law, regulatory or political environment which would negatively affect the Company's ability to obtain all necessary environmental and regulatory approvals. license and permits, (2) the inherent uncertainties and speculative nature associated with uranium exploration, including the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, possible variations in grade and ore densities or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents or other risks of the mining industry, (3) a decrease in the demand for and/or a decrease in the price of uranium, (4) an increase in the operating costs associated with the extraction and processing of the uranium, (5) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (6) the risk that the Company does not execute its business plan, (7) inability to retain key employees, (8) inability to finance operations and growth, (9) an extended downturn in general economic conditions in North America and internationally, (10) an increase in the number of competitors with larger resources, and (11) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators at www.sedar.com.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.

For further information, please contact:

John Mays
Chief Operating Officer
Powertech (USA) Inc.
(303) 790-7528

Mark Hollenbeck
Dewey-Burdock Project Manager
Powertech (USA) Inc.
(605) 685-3376
Email: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let's say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: implemen...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
In a world where the internet rules all, where 94% of business buyers conduct online research, and where e-commerce sales are poised to fall between $427 billion and $443 billion by the end of this year, we think it's safe to say that your website is a vital part of your business strategy. Whether you're a B2B company, a local business, or an e-commerce site, digital presence is key to maintain in your drive towards success. Digital Performance will take priority in 2018 for the following reason...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...