The B.C. government and Boss Power Corp. agreed on a $30 million out-of-court settlement to resolve differences surrounding a ban on uranium and thorium exploration in B.C.
In 2009 the B.C. government issued a retroactive cabinet order to ban permits for uranium and thorium exploration and development in the province. The Association of Mineral Exploration British Columbia (AME BC) said the ban has negatively impacted further exploration and development of mineral properties in B.C. Gavin C. Dirom, president and CEO of AME BC, said the ban on uranium and thorium exploration is an unsound policy, based on poor science and enacted without due process.
Boss Power Corp. president and CEO Randy Rogers said the agreement represents an opportunity for B.C. to move forward and demonstrate the province’s politically stable climate for investment.