Strateco Optimistic About the Holding of a BAPE Public Inquiry and Hearings on Quebec’s Uranium Industry
March 5, 2014 (Source: Marketwired) — Strateco Resources Inc. (“Strateco”)(TSX:RSC)(FRANKFURT:RF9) notes that Quebec’s Minister of Sustainable Development, the Environment, Wildlife and Parks (the “MDDEFP”) has made an announcement mandating the Bureau d’audiences publiques sur l’environnement (the “BAPE”) to hold a public inquiry and hearings on the environmental and social impact of uranium exploration and mining in Quebec. Strateco intends to be very active throughout the process, and hopes that the independent study, conducted by Université Laval researchers on the state of the art of exploration and uranium mining in Quebec and related impacts and mitigation measures, will lay out rational, scientific facts and set the ground for stakeholder discussion.
Strateco trusts that this exercise in participatory democracy will highlight the facts, regardless of what people believe. Although the Cree Nation of Mistissini immediately indicated that it was entrenched in its position, Strateco would like them to be open to discussion. It should be recalled that after undergoing a similar exercise involving a review of scientific studies, Greenland (Denmark), Queensland (Australia) and Labrador (Canada), most notably, lifted their moratoriums on uranium exploration and mining.
Get our daily investorintel update
Strateco is confident that this public discussion will enable the BAPE to propose a balanced approach to the principles of the Environmental Quality Act in keeping with the rights of all and enabling the proponents to carry through with their projects.
Despite the heated debates surrounding previous public hearings of this nature, Strateco remains optimistic about the outcome of the process, and believes that the MDDEFP Minister will realize that he already had in hand all the knowledge needed to make an informed, responsible decision in favour of the Matoush project, Quebec’s only advanced uranium project.
The announcement of the BAPE review of the Quebec uranium industry in no way affects the legal proceedings initiated by Strateco with regard to the Matoush uranium project. Strateco intends to continue to vigorously defend the interests of its shareholders, who have invested more than $123 million in the project.
This news release contains “forward-looking statements” subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in Strateco’s annual information form filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>