LONDON,November 1, 2010 /PRNewswire/ -- Sparton Energy Inc, a wholly-ownedsubsidiary of Sparton Resources Inc of Canada, has won the World Financeaward for Best Clean Tech Company of the Year, 2010, Asia.
SpartonEnergy is the only foreign company in the world that can legallyproduce uranium from any source in China. This unique status is thanksto Sparton Resources' Environmental Remediation System - a method ofeconomically removing uranium from radioactive coal ash and other formsof waste. In bestowing Sparton Energy with this award, World Finance isrecognising the company's strong contribution to the energy sector andeconomy of China, as well as its excellent work in mitigating thehazards of this important fuel source.
Accepting the award at theLondon Stock Exchange, Lee Barker, the President and CEO of SpartonResources, thanked all the people who had worked hard to develop itswaste recovery technology, including the China National NuclearCorporation, with which Sparton Energy first developed the research andtechnology that led to the current joint venture.
In a filmed interview with World Finance, available now on https://www.worldfinance.tv,Mr Barker explains how China has set out plans to increase thecontribution of nuclear energy to its electricity grid to over sixpercent by 2015 - up from less than one percent five years ago. "Chinaneeds desperately, and has the largest demand in the world currentlyfor, new sources of uranium," Mr Barker explains. "They've been goingoutside the country to buy deposits... but internally there's been a lagin the development of uranium production. We hope to be able to supportthat with our internal source of uranium for them from waste."
Thebenefits of processing waste ash, phosphate and mine waste include thefact that the source material is located in readily accessible areas,with power, water, infrastructure and a ready labour pool. And, as MrBarker points out, the material does not have to be mined, dramaticallyreducing costs: even though today's spot uranium price is just creepingover one third of its mid-2007 peak, profits should be achievable. Theadded benefit, and the reason Sparton Energy is uniquely permitted towork in China, is that after processing, the once hazardous materialscan be safely recycled into building materials.
The full interview can be found at https://www.worldfinance.tv/energy/barker-video. For more information on Sparton Resources search for 'Sparton' on https://www.worldfinance.com or https://www.spartonenergy.com .
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