The company has claimed damages and interest from MDDEF to compensate the loss in its market capitalization after the minister has denied mining permit for uranium exploration.
Also, the company through its legal advisor has informed Blanchet that it would holds him responsible for the damages due to misconduct and has sought legal proceedings to claim the compensation.
It would represent compensation for the loss of value of the project, the amount of which has yet to be determined, along with the loss of $120m invested so far, the company added.
Further, the company has asked court to order the government to pay a minimal monthly sum ranging from $420,000 to $800,000 starting 31 May 2013, until 30 September 2013.
Strateco president and CEO Guy Hébert noted that the government’s opinion is in conflict with its environmental regulations and so it urges court to order the government to authorize the project.
"The government is taking part in an illegal decision," remarked Hébert.
