10-January-2012
U.S. Department of Interior Decision to Withdraw Federal Uranium Lands in Northern Arizona
VANE Minerals plc ("VANE" or "the
Company") today announces an update on the proposed
withdrawal of one million acres of federal lands from mining
activities in northern Arizona.
The U.S. Secretary of Interior, Ken Salazar, announced on 9
January 2012 the implementation of the proposed 20-year
withdrawal of these federal lands. As previously stated, the
Company had already significantly reduced expenditures on its
exploration programme in the affected area while awaiting the
outcome of this issue. The Company will continue to maintain
a small exploration program on its state lands, which include
the Wate and Rose projects, and which are unaffected by the
withdrawal and will continue to protect its claims on federal
lands while monitoring the legislative and legal actions
which have been brought about to challenge the withdrawal. Of
the affected lands, VANE maintains that it has legal rights
on some 680 mining claims covering a total of 14,000
acres.
The Company will continue to make announcements on further
developments.
David Newton, CEO, said "Whilst the confirmation that
these federal lands are being withdrawn from mining activity
is disappointing, particularly given the strong local and
regional support for mining from various governmental
offices, it was not unexpected and the Company has already
adjusted its business plan accordingly to focus predominantly
on its copper exploration programme, supported by its gold
and silver revenue generating activities in
Mexico."
to see a statement by Senators and Congressmen denouncing the Obama administration's decision to ban uranium mining in northern Arizona.
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