States completes final draft permits for two UEC wells

Thu. September 24, 2009; Posted: 06:41 AM

GOLIAD, Sep 23, 2009 (Victoria Advocate - McClatchy-Tribune Information Services via COMTEX) -- UEC | Quote | Chart | News | PowerRating -- Uranium Energy Corp. has forged one step closer to mining in Goliad County.

The Texas Commission on Environmental Quality completed final draft permits for two non-hazardous disposal wells, the uranium company announced Wednesday. The company would use the wells as part of its in-situ recovery operations.

"Uranium Energy Corp. is roughly 95 percent through the permitting process," said Harry Anthony, the uranium company's chief operating officer.

So far, the company received from the state final draft for its:

Mine permit.

Production area permit.

Disposal wells permit.

The company submitted its radioactive material license application to the state a year ago. The radioactive materials license represents the final permit the state reviews in this sequence of permitting. Already, the uranium company prepares a response to the state's technical review of its application, and plans to submit the response within 30 days.

"The Texas Commission on Environmental Quality is well along with their review," Anthony said.

Goliad County sued Uranium Energy Corp. in March 2008. The county claims the company contaminated well water when it failed to properly plug many of its 1,100 exploratory wells. Both sides say science supports their arguments.

Goliad County Commissioner Jim Kreneck, who opposes uranium mining, said the state permitting process remains slanted in favor of big business.

"The Texas Commission on Environmental Quality is funded 85 percent by permitting fees. Who wouldn't push a permit through to get a paycheck?" Kreneck said. "That's been one of my concerns all along. Permits are pushed through without proper evaluation and to keep their operations going."

Anthony disagreed. He called the state review process "thorough."

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For full details on Uranium Energy Corp (UEC) click here. Uranium Energy Corp (UEC) has Short Term PowerRatings of 4. Details on Uranium Energy Corp (UEC) Short Term PowerRatings is available at This Link.

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