Argentina presents a key opportunity in natural resources & energy development in Latin America, Patagonia holds large Battery metals and Rare Earths
WASHINGTON DC, WASHINGTON DC, USA, September 21, 2021 /EINPresswire.com/ — Washington, DC, September 20, 2021 / –
UrAmerica Ltd. (UrA), the leading Argentine uranium explorer and developer is pleased to announce that it has signed a Letter of Intent (LOI) and Term Sheet (TS) for $65,000,000 USD funding through BIDC, Inc. a Washington, DC based subsidiary of Burkhan World Investments.
The funding will be provided to accelerate the development and mining in the production for Uranium as well as fund analysis and feasibility for mining other critical battery metals for the clean energy economy including lithium, zirconium, gold, and copper.
Demand for nuclear fuel from domestic resources as well as global markets continues to outpace supply as countries look towards energy self-sufficiency and climate friendly solutions. UrAmerica is focused on development of uranium production via the low cost and low impact method of In-Situ Recovery (ISR) in Chubut Province. Six (6) barrels of Uranium produce the energy equivalence of two-hundred and twenty thousand (220,000) barrels of oil making it the optimal source of energy for rapidly addressing climate issues for nations globally.
Omar Adra, Executive Director, Chief Executive Officer of UrAmerica commented on the agreement, “UrAmerica is very excited to look towards this funding from Burkhan International Development Corporation, to build a world class mining platform supporting BIDC’s strategy of critical metals source thru clean energy production and infrastructure globally. UrAmerica is dedicated to make a significant global contribution to achieving the Net-Zero carbon goal that the planet needs”.
BIDC Chairman, Shahal Khan added, “BIDC is pleased to have signed this funding commitment with UrAmerica to enable a carbon free future as well as to develop what we feel are one of the largest potential strategic metals deposits in South America. This transaction is strategic to the United States for the future security of supply chain in that sector. We hope to list UrAmerica’s in the near future in the US stock market to allow it to accelerate its timing to production of uranium and exploration of key minerals such as Lithium.”
The funding will also lead to a re-structuring of the company to become a U.S. company based in Washington, DC.
Global Policy Initiatives Support Nuclear Energy, Biden’s proposed FY2022 budget includes production tax credits to support at-risk power plants ($9.7B through 2031). This is funding to procure advanced nuclear power ($3.5B through 2026). The EU indicated that nuclear energy does not cause significant harm and inclusion may help support continued and new investment in nuclear capacity in Europe, stemming early reactor closures. The U.S., Europe, China and Japan are recognizing nuclear’s vital role as a carbon-free energy source planning to produce 20% of electricity from non-fossil sources by 2030 expect nuclear power use to rise as much as 10% over the next decade, up from 5% in 2019.
About UrAmerica Ltd.
UrAmerica is a private uranium exploration company incorporated in London with presence in Argentina and Paraguay. The company has focused its efforts on developing the properties and it has successfully consolidated a highly prospective land package in the Province of Chubut in Argentina. UrAmerica’s land position covers many areas for uranium exploration and the basin is known for hosting many other minerals, such us gold, copper, lithium, vanadium, molybdenum, REE, etc. The company upholds the highest environmental, safety and hygiene standards, in compliance with local laws and regulations and global market practices and is committed to the conservation of the environment and the progress of the communities in which we operate.
About BIDC, Inc.
BIDC is a global infrastructure development company based in Washington, DC. We are focused on empowering the lives of communities throughout the world through bottom-up infrastructure solutions and building global platforms and supply chains with our partners to serve the new clean energy economy and Industry 4.0. We are leaders in finance, innovation, energy infrastructure, connectivity, and technology that can unlock communities’ circular economies to enhance their incomes, health, education, and wellbeing by leveraging smart community infrastructure towards a more climate friendly inclusive planet.
BIDC strives to become the leading US nation building development toolkit of choice to empower the lives of citizens around the world.
BIDC: Camille Chetrit: Camille@bidc.world
Omar Adra: firstname.lastname@example.org
This press release contains forward-looking statements and information within the meaning of applicable securities laws. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that UrAmerica expects or anticipates will or may occur in the future, including statements as to the potential success of any current and future exploration, UrAmerica’s ability to discover and develop a world class uranium deposit in the Chubut Province, Argentina, the benefits to Provincial and Local communities, and the timely meeting of certain pre-determined milestones. When used in this press release, the words “potential”, “indicate”, “expect”, “intend”, “hopes”, “believe”, “may”, “will”, ”if” and similar expressions are intended to identify forward-looking statements and forward looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of UrAmerica to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, the risks and hazards associated with the business of mineral exploration, development and mining, the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, changes in national and local government, legislation, taxation, controls or regulations and political or economic developments in Argentina, risks concerning UrAmerica’s title to properties; potential effects on UrAmerica’s operations of environmental regulations in Argentina; risks due to legal proceedings; risks relating to political and economic instability Argentina. Although UrAmerica has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
Analysis on Uranium 2021
Source: EIN Presswire