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Energy Fuels Gets More Time On Colorado Mill Payments

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(credit: Energy Fuels Inc.)

(credit: Energy Fuels Inc.)

DENVER (AP) – Energy Fuels Corp. has won more time from Colorado health officials to make financial assurance payments for its proposed uranium mill near Naturita.

Energy Fuels must make about $11 million in such payments for decommissioning of the proposed Pinon Ridge mill after it closes. The company originally planned to start building the mill last September, but litigation by opponents has led to delays. Energy Fuels now plans to start construction this September, at the earliest.

State health officials said Wednesday they have approved a roughly six-month extension of deadlines for making the financial assurance payments. Energy Fuels has already paid about $1.4 million. Three more payments of varying amounts are scheduled through September 2013.

Energy Fuels also has paid $844,400 for long-term care of the mill site after it closes.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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