Goliad Permitting Advances Following Conclusion of Hearing
NYSE Amex Equities Exchange Symbol - UEC
CORPUS CHRISTI, TX, May 27 /CNW/ - Uranium Energy Corp (NYSE AMEX: UEC, the "Company") is pleased to announce that the Texas Commission on Environmental Quality (TCEQ) has issued both Class I Non-hazardous Waste Disposal Well Permits for the Company's Goliad in-situ recovery uranium project in South Texas. This follows the Company's news release dated September 23, 2009, which reported that the final draft permits for the two disposal wells had been issued.
The Company is also pleased to report that the public question-and-answer portion of the remaining hearing process regarding the issuance of final permits for the Goliad project has now been concluded. The administrative judge who presided over the hearing will provide non-binding recommendations to the TCEQ Commissioners who will make a final determination later this year.
In June 2009, the TCEQ approved the Company's draft Mine Permit and draft Production Area Authorization for the Goliad project. The TCEQ has sole discretion and authority to grant the Company its Mine Permit and PAA, and, when issued, would allow the Company to install the initial wellfield and commence production at Goliad.
In Texas, uranium producers and near-term producers deal with one agency, the TCEQ, for all required and related permits and licenses. Significant progress has been made in processing the applications, and a brief update of the permit status follows:
Status of Permitting Progress at the Goliad Project
a. Class 1 Non-hazardous Waste Disposal Well Permits - Both Class I Non-
hazardous Waste Disposal Well Permits for the Company's Goliad in-
situ recovery uranium project in South Texas have been issued.
b. Production Area Authorization (PA-1) - The Company received a draft
authorization and the TCEQ Commissioners will make a final
determination later this year.
c. Mine Permit - The final draft mine permit has been issued and TCEQ
Commissioners will make a final determination later this year.
d. Permit by Rule - The proposed Goliad operation was evaluated by TCEQ
for an air quality permit and it was determined that since the
operation will not produce significant air contaminants, TCEQ issued
the Company a Permit by Rule
e. Radioactive Material License - TCEQ is conducting its technical
review of the Radioactive Material License Application. The Company
stands ready to promptly respond to TCEQ's request for additional
information that may be needed to complete the technical review of
f. The U.S. Army Corps of Engineers issued the Company a Jurisdictional
Determination in August 2008. Because the project will not impact
waters of the U.S., a 404 permit is not required.
g. A Cultural Resource Survey and Assessment was completed by an
independent expert. The Survey concluded that the Goliad Project will
not have any impact on cultural resources in the permit area, and
that no further work is required on this matter by the Company. As
required by the rules, the Texas Historical Commission reviewed the
assessment and concurred, in July 2008, that the project will not
have a significant impact on cultural resources.
h. Texas Parks and Wildlife has completed its review of the proposed
mine plan and concluded in May 2008 that there will be no significant
impact to wildlife.
About Uranium Energy Corp
Uranium Energy Corp. (NYSE-AMEX: UEC) is a U.S.-based exploration and development company with the objective of near-term uranium production in the U.S. The Company's fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the fully-permitted Palangana in-situ recovery project, and the Goliad in-situ recovery project which is in the final stages of mine permitting for production. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.
Stock Exchange Information:
Frankfurt Stock Exchange Symbol: U6Z
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SOURCE Uranium Energy Corp
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