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Forsys Metals Corp T.FSY

Alternate Symbol(s):  FOSYF

Forsys Metals Corp. is a Canada-based uranium developer. The Company is engaged in the acquisition, exploration and development of mineral properties. It is focused on advancing its wholly owned Norasa Uranium Project, located in the jurisdiction of Namibia, Africa, which is wholly owned by its 100% owned operating subsidiary, Valencia Uranium (Pty) Ltd. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638). The Valencia Uranium project is situated on the farm Valencia 122, which is located approximately 75 kilometers (km) north-east of the town of Swakopmund in central-west Namibia, covering an area of 735.6 hectares (ha). The Namibplaas Uranium project is located 7.5 km northeast of the Valencia deposit on the farm Namibplaas 93, with a total surface area of 1,269 ha.


TSX:FSY - Post by User

Bullboard Posts
Post by Einherjaron Sep 08, 2008 4:35am
262 Views
Post# 15437612

India jubilant over nuclear trade waiver

India jubilant over nuclear trade waiver

India jubilant over nuclear trade waiver

By MUNEEZA NAQVI, Associated Press Writer Sun Sep 7, 8:49 AM ET

NEW DELHI - India's government and business groups were jubilant Sundayover a hard-won endorsement from nations that supply nuclear material and technology, a decision that paves the way for a landmark civil nuclear energy accord between India and the United States.

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Indiahas been subject to a nuclear trade ban since it first tested an atomicweapon in 1974. The country conducted its most recent test blast in1998 and has refused to sign nonproliferation agreements.

The 45-nation Nuclear Suppliers Group,which governs the legal world trade in nuclear components and know-how,agreed to lift the ban on civilian nuclear trade with India on Saturdayafter three days of contentious talks in Vienna and some concessions tocountries fearful it could set a dangerous precedent.

India described the agreement as "a forward-looking and momentous decision."

"It marks the end of India's decades-long isolation from the nuclear mainstream," Indian Prime Minister Manmohan Singhsaid late Saturday. "The opening of full civil nuclear cooperationbetween India and the international community will be good for Indiaand for the world."

The Confederation of Indian Industry,the country's top business group, said the decision would open upenormous business opportunities for India as well as help meet itsenergy requirements.

Chandrajit Banerjee, the confederation's director general, calledthe development a "major confidence-building move" for India'shigh-technology sector.

U.S. officials have said that selling peaceful nuclear technologyto India would bring the country's atomic program under closer scrutinyand boost — not undermine — international nonproliferation efforts.

The civil nuclear agreement, which still requires U.S. congressionalapproval, will overturn more than three decades of U.S.anti-proliferation policy by allowing America to send nuclear fuel andtechnology to India, even though New Delhi has refused to signnonproliferation treaties and tested nuclear weapons.

India, in exchange, would allow international inspections of its civilian nuclear reactors.

The Indian media's reaction was also effusive.

"Nuclear Dawn," said a headline in the Hindustan Times newspaper. "Pariah to power, India joins the big league," it added.

But the Nuclear Suppliers Group's waiver and the nuclear energy accord between India and the U.S. have come under criticism both in India and abroad.

In India, the right-wing opposition Bharatiya Janata Party has said the deal could undermine the country's cherished nuclear weapons program. Communist parties have slammed the India-U.S. deal, saying they don't want closer ties with the United States.

The Communist Party of India (Marxist) said the waiver represented another step toward a surrender of nuclear independence by India's ruling coalition.

"The struggle to reverse the agreement is not over," party chief Prakash Karat told reporters.

The International Atomic Energy Agencysigned off on the deal last month. The Bush administration will have torush to get approval from Congress in the few weeks remaining beforelawmakers adjourn for the rest of the year.

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