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WGI Heavy Minerals announces Department of Atomic Energy notification
WGI Heavy Minerals announces Department of Atomic Energy notification.
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[{"type":"text","content":"\n\n\n\n\nwww.wgiheavyminerals.com\n\nCOEUR D'ALENE, ID, Feb. 10 /CNW/ - WGI Heavy Minerals, Inc. (TSX: WG)\ntoday announced issuance of a notification by the Indian Government Department\nof Atomic Energy, Mumbai, gazetted on the 20th of January 2006 which announced\nin part; \"Titanium ores and concentrates (Ilmenite, Rutile and Leucoxene)...\nshall remain prescribed substances only till such time the Policy on\nExploration of Beach Sand Minerals notified vide Resolution Number \n8/1(1)97-PSU/1422 dated the 6th October, 1998 is adopted/revised/modified by\nthe Ministry of Mines or till the 1st of January 2007, whichever occurs\nearlier and shall cease to be so thereafter.\"\nIlmenite occurs along with our garnet deposits in India. Currently the\nCompany produces ilmenite tailings at its plants in Tamil Nadu and Andhra\nPradesh. The listing as a prescribed substance is one of the impediments to\nhandling the ilmenite tailings, upgrading it and marketing WGI's ilmenite\nproducts. The result of this announcement is neither imminent nor certain. The\nCompany welcomes the DAE decision, which had been actively encouraged by the\nCompany, but cannot at this time determine what impact, if any, this\nannouncement may have on the Company's operations.\n\nWGI Heavy Minerals, Inc. is a fully integrated miner, producer, and\nmarketer of industrial-grade minerals. The Company's operations include mining\nand processing facilities in Washington and Idaho, U.S. (International\nWaterjet Parts & Emerald Creek Garnet), and Tamil Nadu and Andhra Pradesh,\nIndia (Bengal Bay Garnet).\n\nThis press release contains forward-looking statements concerning the\nbusiness, operations, and financial performance and condition of WGI Heavy\nMinerals, Incorporated. A number of the matters discussed and statements made\nin the press release contain forward-looking statements reflecting current\nexpectations regarding future assets. When used in this press release, the\nwords \"believe\", \"anticipate\", \"intend\", \"estimate\", \"expect\", \"project\", and\nsimilar expressions are intended to identify forward-looking statements,\nalthough not all forward-looking statements contain such words. These forward-\nlooking statements are based on current expectations and are naturally subject\nto risks, uncertainties, and changes in circumstances beyond manageme...