Energy Metals receives extension of uranium possession permit

Australian Uranium exploration company Energy Metals has secured an extension for its permit to possess nuclear material until 31 March 2018.

The extension was granted by Australian Safeguards and Non-Proliferation Office, which had first awarded the permit to Energy Metals in April 2011.

Following this approval, Energy Metals holds all the necessary permits to export uranium oxide concentrates (UOC) from Australia, reported Proactive Investors.

Recently, the company concluded the shipment of first UOC batch to Chinese utility China Guangdong Nuclear Power Holding Company (CGNPC). CGNPC’s subsidiary China Uranium Development is reportedly the largest shareholder of Energy Metals, holding 60.6% stake.

Meanwhile, Energy Metals has been holding discussions with various uranium producers for a purchase agreement in order to further its shipments from the country for resale.