Strateco Resources Forced into $87 Million Impairment Charge after March Moratorium

Mining Weekly reported that a Quebec  moratorium on uranium exploration and mining during the month of March has forced Strateco Resources to take an $87 million impairment charge, as its flagship Matoush uranium project was idle.

As quoted in the Mining Weekly report:

Strateco charged it was obliged to impair its Quebec uranium properties, deferred exploration and evaluation expenditures and fixed assets associated with the project, owing to its inability to proceed with the underground exploration programme, the absence of significant exploration and evaluation expenditures planned for the year and the overall uncertainty surrounding Quebec’s uranium industry.

To view the whole Mining Weekly report, click here.