Quaterra Considers Legal Action Regarding Uranium Mining Ban

Quaterra Resources Inc. (TSXV:QTA,NYSE:QMM) announced it is considering legal action after the US Secretary of the Interior announced a uranium mining ban.

As quoted in the press release:

On January 9, 2012, the Interior Department announced a Public Land Order to withdraw approximately one million acres of Federal land in northern Arizona from mineral entry for a twenty year period. Approximately 85% of Quaterra’s claims lie within these Federal jurisdiction lands and 15% lie within Arizona State land which are unaffected by the withdrawal.

Quaterra President and CEO, Thomas Patton, said:

The withdrawal Order appears to be politically motivated rather than based upon an objective view of fact and law related to environmental risk.

Click here to read the Quaterra Resources Inc. (TSXV:QTA) press release.