U.S. Department of Energy Contemplates Executing New ULP Leases

The Department of Energy (DOE) plans to continue the Uranium Leasing Program (ULP) for an additional 10-year period, as well as execute new 10-year leases with the existing leaseholders. Once DOE executes the new leases, the lessees may begin preparing exploration and mining plans and site-specific environmental impact evaluations that DOE must approve before any mining can be initiated. In addition, the lessees must provide reclamation bonds and develop site-specific mitigation plans for each mining activity.

DOE is scheduled to meet with the current lessees on October 8-9, 2019.  At that time, the DOE realty officer will review the new lease template with the lessees, describing the similarities and differences between prior and new leases. The environmental compliance officer will spend time emphasizing DOE expectations that all regulatory stipulations — specifically, those required by the National Environmental Policy Act, Endangered Species Act, and other environmental regulations — be addressed by lessee submittals and activities. DOE anticipates executing new 10-year leases of the currently controlled ULP tracts with Cotter Corporation, EFR Colorado Plateau Partners LLC (a wholly owned subsidiary of Energy Fuels Inc.), Gold Eagle Mining Inc., and Golden Eagle Uranium LLC.