UrAmerica

UrAmerica in the news (19.10.2009)

Monday, October 19th, 2009 – La Nacion Paraguay – Page 14

UrAmerica informs the Ministry of Public Works and Communications (MOPC) of its interest in exploring in Caazapá, Paraguay

Uranium attracts more investors

Businessman tells that the presence of his company was delayed on account of “scoundrels” who delayed timings and speculated, in every way, on the previous government.
Uramérica, a company that was formed in London and has subsidiaries in Argentina and Colombia, informed the government of its interest in developing mining projects, in Paraguay, for the exploration of uranium in the future. Omar Adra, executive of the company, reported this during his brief stay in Asunción.
At first, the company had foreseen to invest US$ 2 million (in Paraguay), two years ago, for the prospection and exploration of uranium on a 900,000 hectare block that spanned over the departments of Caaguazú and Caazapá, but the area would be reduced to 300,000 hectares. The initial investments will depend on the permits and licenses granted by the Ministry of Public Works and Communications (MOPC) and the Secretary of the Environment (Seam).
Adra and other Uramérica managers met with the vice minister of Mines and Energy, Germán Fatecha, to learn the official position concerning the support they may receive in order to go forward with the investments. Fatecha promised them full support.
Adra explained that Uramérica develops similar projects in Argentina, where it is prospecting on 60,000 hectares in Chubut, and 50,000 hectares in Salta. In addition, a subsidiary is about to acquire 60,000 hectares in Colombia.
In order demonstrate how they managed things in the days of Duarte Frutos, Adra said that the night when the government was changing (August 2008) he received “different offers” to be benefited with certain measures on the exploration of minerals in Paraguay.
Days before Fernando Lugo took office, a concession lay was enacted for the exploration of uranium in Yuty favoring the companies Coronel Oviedo Mining and Transandes S.A., companies that until now have not realized any investment despite being obligated by law.
“We come to Paraguay to explore. We are the petitioners and directly the investors who come to Paraguay to invest”, he remarked.

“Scoundrels” Delayed

He regretted the delay of the company in Paraguay and talked about the existence of “many scoundrels” who are very familiar with the intermediate mechanisms of the public administration in order to “delay timings and proceedings that generate speculation”. He affirmed that it is dialogue that many use to promote investment, but what they are doing is speculating in a personal way seeking investment for personal gain.
“The government, facing discouragement of investment, extensions and a lot of questions, perhaps, today, finds itself included in a situation it did not look for and the fact is that disinvestment can also become a speculative issue. But it has nothing to do with the government”, he said, without mentioning names.
He said that they want the opportunity to support Paraguay in the concrete growth of the GDP. “Those of us who have managed our companies well and are not speculating can develop the projects”.

There Was Disappointment

The businessman said that “unfortunately” Paraguay, lately, has had disappointment concerning investment in mining caused, in part by the crisis, but also, in part, because those who explored the national terrain before were not the immediate investors.
He warned that there needs to be knowledge in differentiating the seriousness of those who went out and requested areas because they already have the capital needed to develop a mining project. He explained that they [Uramérica] already displayed reliability when soliciting for the prospection of 900,000 hectares.

A Comprehensive Business

Uranium could be a source of significant income for Paraguay. Nuclear plants in France, Canada, Argentina and Chile demand much primary material. In addition, there is the Chinese agency for nuclear development that requires an abundance of uranium in its natural state. China and India, who are the large economies that are, today, the engine that runs the world, have planned for the next 30 years some 300 nuclear reactors.
According to Omar Adra, of Uramérica, uranium, aside from the doubts of its improper use, produces clean energy that generates steam as a waste product. “The world is going to need more development for this type of energy, which is clean. We want a quality of life that allows us to live in a suitable environment. It is necessary to look at the future, to what the cost is of the environmental impact based on the energy produced and the harm that will not be done to the environment”.