Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

Shipments of uranium ore can resume under agreement reached with the Navajo Nation

SUSAN MONTOYA BRYAN
January 29, 2025

Shipments of uranium ore from a revived mining operation just south of the Grand Canyon are expected to resume in February after the Navajo Nation reached a settlement with the mining company, clearing the way for trucks to transport the ore across the largest Native American reservation in the U.S.

The agreement announced Wednesday settles a dispute that erupted last summer when Energy Fuels Inc. began trucking ore from the Pinyon Plain Mine to a mill site in Utah. Navajo authorities attempted to put up roadblocks but the trucks already had left tribal roadways.

The dust-up spurred negotiations with the company and led the Navajo Nation to adopt emergency legislation to strengthen regulations for transporting radioactive material across tribal lands. The Navajo Nation and tribes elsewhere in Arizona, New Mexico and Utah have a long, sordid history of disease, death and contamination linked to mining that took place during World War II and the Cold War.

Energy Fuels' President and CEO Mark Chalmers acknowledged those longstanding impacts in highlighting the importance of the settlement.

"This has understandably caused mistrust toward the U.S. government and energy companies," Chalmers said, adding that he was honored to be able to work with the tribe to address the concerns and ensure transportation will be done safely and respectfully.

Energy Fuels already must meet standards spelled out by federal agencies when transporting uranium ore. The measures outlined in the agreement with the Navajo Nation provide additional layers of protection, company officials said.

The agreement also includes a pledge by Energy Fuels to help transport up to 10,000 tons of waste material from abandoned mines that are relics of the federal government's past uranium programs.

In addition to allowing the Navajo Nation to monitor and inspect transport trucks, there are provisions for financial compensation for improving safety and protecting the environment, said Stephen B. Etsitty, head of the Navajo Nation Environmental Protection Agency.

Shipments from the mine are expected to resume in February. They will be limited to specific routes and times of day, and no shipments will happen when the tribe is participating in cultural celebrations or other public events.

The tribe also is requiring the company to have clear emergency response procedures in place, provide adequate notice and ensure drivers have additional qualifications and training.

The trucks will be covered to prevent any dust from escaping along the route, and there are provisions for escorts and blessings as the tribe sees fit.

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