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Westwater Resources Announces Reclamation Milestone at Vasquez
CENTENNIAL, Colo.--(BUSINESS WIRE)--Westwater Resources, Inc. (“Westwater,” or the “Company”) (Nasdaq: WWR), an energy materials development company, today anno
About this update from Westwater Resources, Inc.
[{"type":"text","content":"CENTENNIAL, Colo.--(BUSINESS WIRE)--Westwater Resources, Inc. (“Westwater,” or the “Company”) (Nasdaq: WWR), an energy materials development company, today announced that the Texas Commission on Environmental Quality (TCEQ) has certified that the third phase of site reclamation (plugging of production wells) is complete and released a surety bond posted by the Company in the amount of $208,657. This surety bond is collateralized with cash at a rate of 40%. Christopher M. Jones, President and CEO of Westwater Resources, stated: “This important milestone involved the complete reclamation of 844 wells formerly used for production and water quality monitoring. Surface reclamation of the site and the waste disposal well are expected later this year. Reclamation completion and state approval of our work in Texas, like that at Vasquez and Rosita, are hallmarks of our commitment to being a sustainable and responsible part of the community.” The Vasquez Project in Duval County, Texas, was acquired in 1990, with production initiated in the fall of 2004. After four years of uranium production, groundwater restoration was begun. The ground water restoration process involves repeated filtration of the water in the aquifer. This ensures that the groundwater meets state standards. Restoration was completed after ten years of work in 2014. TCEQ approved the company’s groundwater restoration efforts in 2017, and the well plugging phase was initiated at that time. This phase was completed that year. Final reclamation efforts, including surface work and the reclamation of a waste disposal well at Vasquez, are expected to be complete later this year. Once that work is certified as complete by the TCEQ, we will follow up with a request for surety bond release on that phase, much as we have on previous phases. This success follows a similar reclamation milestone achievement earlier this year at our Rosita property, also in Texas. About Westwater Resources WWR is focused on developing energy-related materials. The Company’s battery-materials projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Mine located across 41,900 acres (~17,000 hectares) in east-central Alabama. In addition, the Company maintains lithium mineral properties in three pros...