FORT COLLINS, Colo.—Powertech Uranium Corp. is terminating option agreements to buy land from two families for its proposed uranium mine in northern Colorado.
The Coloradoan reports Powertech had options to purchase a total of 3,585 acres from Howard and Donna Diehl of Carr and Thomas and Dianna Varra of Nunn, plus the associated water and mineral interests, for a total of around $11 million.
CEO Richard Clement said Thursday the company is still interested in developing the Diehls’ property but is focusing its limited resources on its proposed mine in South Dakota for now. Powertech says the Varras’ properties don’t have uranium.
Clement says Powertech still has agreements with the Diehls that allow for an aquifer pump test on their land to help Powertech determine the viability of its proposed mining technique.
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Information from: Fort Collins Coloradoan,
