Notably, U.S. Nuclear Regulatory Commission staff recommended in the SEIS that the NRC should issue a Source Material License for the proposed Ross ISR Project.
The issuance of the final SML, together with the Wyoming Department of Quality Permit to Mine and Deep Disposal Well Licence are the three key regulatory permits required for the development and commencement of a commercial In-situ Recovery mining operation at the Ross Project.
Peninsula's wholly-owned subsidiary Strata Energy was granted the Deep Disposal Well Licence in April 2011 and the Permit to Mine from the Wyoming Department of Quality in November 2012.
The draft SEIS presents the final conclusions of the NRC environmental review staff and cooperating agencies regarding the environmental impacts of the proposed project.
When finalized, the SEIS will constitute the fifth supplement to the NRC's Generic Environmental Impact Statement for In-Situ Leach (NYSEMKT:ISL) Uranium Milling Facilities, originally published in May 2009 as NUREG-1910.
The draft SEIS is a comprehensive review of the environmental aspects and mitigation measures of the Ross project and documents the NRC evaluation of project-specific environmental aspects of the Ross project as required under the National Environmental PolicyAct (OTC:NEPA).
NRC staff also concluded that the applicable environmental monitoring program and proposed mitigation measures will eliminate or substantially lessen the potential adverse environmental impacts associated with the Ross Project.
The Ross draft SEIS is the first produced in Wyoming as a cooperative effort of the BLM and NRC under a 2010 Memorandum of Understanding.
Following publication of a notice in the Federal Register (expected March 29), the public will have 45 days to comment upon the draft SEIS before the NRC prepares the final SEIS document, anticipated for issuance in November 2013.
Issuance of the final Source Material License is anticipated in early December 2013, in accordance with the NRC's public Application Review schedule.
The Lance Projects are ready to be progressed to the construction stage subject to current permitting and project funding status.
Total construction time is estimated at 12 months with first commercial U3O8 production estimated to begin in 2014 subject to final permitting.
Peninsula has assembled a highly experienced team with specific production experience in ISL operations.
Detailed design and engineering is completed and the company expects to finalise the award of an EPC contract in the coming weeks.
Monitoring well installation has begun and site preparation and civil works are planned to commence after this appointment.
Lance has a JORC Resource of 53.7 million pounds U3O8 at the Ross, Kendrick and Barber Production Units.
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