TORONTO (miningweekly.com) - Uranium hopeful Uranerz Energy Corporation has been issued an air quality permit for its Nichols Ranch in situ recovery (ISR) uranium project, in Wyoming, the firm announced on Friday.

This is the first operational permit for the construction of the project to be issued to Uranerz by the State of Wyoming.

“Receipt of the air quality permit demonstrates progress in the environmental permitting process required for uranium production in Wyoming,” the company commented.

Uranerz still requires a permit to mine from the Wyoming Department of Environmental Quality, as well as a source-material license from the US Nuclear Regulatory Commission, before it can start construction activities on site at the Nichols Ranch project.

The company submitted applications for both processes in December 2007, and the respective agencies are currently conducting detailed reviews of the applications.

The Nichols Ranch uranium ISR project will comprise uranium ISR well-fields and a central processing facility, which will include with ion-exchange concentration and elution circuits, and drying and packaging circuits for finished yellowcake product.

The project also includes a satellite facility with uranium ISR well-fields and an ion-exchange plant at the nearby Hank property.

Together, the Nichols Ranch and Hank properties are expected to produce between 600 000 lb/y and 800 000 lb/y.

However, the central processing facility is being licensed for a production level of two million pounds per year, to accommodate the processing of uranium-loaded resin from any additional satellite deposits that may be developed in the future on the company's other Powder River Basin properties.

The Nichols Ranch project is currently progressing through detailed engineering and design.

Uranerz shares rose 6,1% in Toronto on Friday, to C$1,91 apiece by 15:18. The company is also listed on the Amex in New York and on the Frankfurt Stock Exchange.

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