Powertech Uranium (TSX:PWE, StockForum), a Greenwood Village Colorado-based firm engaged in the exploration and development of uranium properties, announced today that the US Nuclear Regulatory Commission (“NRC”) had handed down a Final Source and Byproduct Materials License for its Dewey-Burdock Project located in southwestern South Dakota.
According to the news release, the license is the result of the most comprehensive three major agency authorization process for the construction and operation of the Dewey-Burdock project.
The license was preceded by the NRC's Final Supplemental Environmental Impact Statement release in January which stated, “... there are no environmental impacts that would preclude licensing the facility” along with NRC's Safety Evaluation Report published in March which also recommended license approval.
Powertech COO, John Mays, commented, “I am very pleased with NRC's decision to issue the final license for the Dewey-Burdock Project.”
He then added, “The NRC and numerous other agencies that participated in the review and analysis necessary to complete licensing components are to be commended for their professionalism.”
And finally concluded, “Similarly, we congratulate the Dewey-Burdock team for its success in achieving the Company's foremost permitting objective, the NRC Source and Byproduct Materials License.”
Draft permits from the US Environmental Protection Agency for the Dewey-Burdock project are expected to be issued by the end of the month with hearings before two state boards to continue within the following months.
Facility construction for the project located in Custer and Fall River Counties some thirteen miles northwest of Edgemont is expected to begin in 2015.
Powertech Uranium was in the news recently when the company was featured in a Thom Calandra Report a little over a week ago.
Shares gained 14.29% on the news to $0.08 per share.
Currently there are 152.9m outstanding shares with a market cap of $12.2 million.