The provincial government and Boss Power have settled in a dispute involving the Blizzard uranium deposit.
According to a release from the provincial government, "Boss (Power) has agreed to surrender to the Province of B.C. all claims to its uranium exploration and mining rights at the Blizzard Uranium Deposit," which is situated north of Beaverdell.
As part of a negotiated settlement, the province will pay Boss Power $30 million, in addition to legal costs, to compensate the company for the "economic value of the uranium deposit" and will gain the rights to the deposit.
In September 2010, Boss Power President and CEO Randy Rogers told the the Grand Forks Gazette that the issue with the provincial government involved an application for exploration drilling permits the company applied for in April 2008.
Shortly after applying, Apr. 24, 2008 to be exact, Rogers said that the province enacted a regulation under the Mineral Tenure Act and began prohibiting the staking of new claims for uranium and thorium and while it applied only to new applications, Boss Power was refused a work permit.
The provincial government would also prohibit further work permits for uranium and thorium through an Order in Council on Mar. 12, 2009.
Boss had an existing uranium deposit claim in the area at the time.
The B.C. government said that the settlement supports the province's goal of ensuring mining exploration is safe, sustainable and economically benefits residents of B.C.