Tuesday, March 17, 2009

British Columbia Government Moves to Ban Uranium and Thorium Exploration

March 13, 2009

VICTORIA, B.C. — The B.C. government has issued a retroactive cabinet order to ban permits for uranium and thorium exploration and development in the province.

The ban has already set off a multi-million dollar lawsuit against the provincial government.

The order dates back to April 2008, around the same time Boss Power Corp. (TSXV:BPU) applied for permits to drill at its Blizzard uranium property in the mountains east of Kelowna.

Boss Power's lawsuit claims the provincial government failed to consult with the company and essentially expropriated its property.

Boss president Randy Rogers says experts estimate the Blizzard property has about 10 million pounds of uranium oxide, worth about $500 million.

Gordon Hogg, the minister responsible for mines, says the order applies to any applications for permits made before April 24.

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