Nebraska’s Attorney General has issued a favorable ruling on a foreign ownership issue that has held up the permitting process for the Crow Butte uranium mining project in that state. In a recent release, the Attorney General said further delay on account of foreign ownership issues is no longer necessary. The reversal is reported to be based on recent changes in the composition of the board of project operator, Ferret Exploration Co. of Nebraska and its wholly owned subsidiary, Crow Butte Land Co.
Imperial Metals (TSE), which holds an 18.71% beneficial interest in the Crow Butte project through U.S. affiliates, said the project has already received a licence for commercial mining from the U.S. Nuclear Regulatory Commission.
“We are very pleased by the Attorney General’s decision,” said Hugh Morris, chairman of Imperial, noting that it would allow final processing of pending state and federal permits.
“We foresee no other major obstacles to construction and startup of Nebraska’s first commercial in situ leach uranium mine,” he added.
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