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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (6471)	5/21/2014 6:52:33 PM
From: Goose94	Read Replies (2) of 203376

Good news for FCU-V for takeout. Cameco (CCO-T) May 20, '14 withdraws mine application, Cameco has withdrawn its application to build and operate a new underground uranium mine in Northern Saskatchewan. A Canadian Press dispatch to the Post reports that the mining company says in a statement on its website that it has also asked the Canadian Nuclear Safety Commission to postpone a hearing scheduled next month into a licence application for the Millennium Mine project. Cameco cites poor economic conditions in world uranium markets. The mine would have been located about 600 kilometres north of Saskatoon and was estimated to contain more than 50 million pounds of uranium. Saskatchewan's environment minister granted approval for the development back in December. The mine faced opposition from the English River First Nation, but the band dropped a lawsuit last year after accepting a $600-million deal to support wages, contracts and other payments for the band, whose members were expected to work in the mine. At the time, English River vice-chief Marie Black said the deal would help the Dene band become more self-sufficient and less reliant on the federal Department of Aboriginal Affairs and Northern Development.

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