Friday, November 12, 2010

Saskatchewan Tory says Canada should loosen ownership rules on uranium mines

Comment:  The local/Canadian own company in VA is always waving the US flag that they need to blow up the hills of VA for uranium to use in VA nuke plants so we can stop buying foreign uranium and oil!  The local uranium company is full of pooh and the truth is beyond their grasps!  No to uranium mining and milling!

By Jennifer Graham, The Canadian Press

REGINA - Debate over strategic natural resources has re-ignited interest in a Conservative politician's push to open up Canada's uranium mining sector to more foreign investment.

Saskatchewan MP Brad Trost, a former exploration geophysicist, doesn't like the current policy, which limits foreign companies from owning more than 49 per cent of a Canadian uranium mine.

"Uranium is treated differently than all other Canadian minerals and it's not been good for the development of Saskatchewan, Nunavut and other parts of the country," Trost said in a phone interview from Saskatoon.

"I want to change it ... so that uranium will be treated the same as any other mineral. I want the policy changed so that non-Canadian companies can own 100 per cent of a mine. If you don't own 100 per cent of a mine, you are not able to control how it's produced."

Trost said there was a situation in Nunavut where three foreign-owned companies wanted like to develop a mine together but couldn't due to the ownership policy. Loosening those rules would encourage investment, create jobs and generate revenue, he said.

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