FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of March 2002
International Uranium Corporation
(Translation of registrant's name into English)
Independence Plaza, Suite 950, 1050 Seventeenth Street, Denver, CO 80265
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________________.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
International Uranium Corporation
---------------------------------
(Registrant)
Date: February 1, 2002 By: /s/ Ron F. Hochstein
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Ron F. Hochstein, President
EXHIBIT INDEX
Exhibit Number Description
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1 Press Release
International Uranium Corporation
1320-885 West Georgia Street
Vancouver, BC Canada V6C 3E8
Telephone: (604) 689-7842
Fax (604) 698-4250
News Release
INTERNATIONAL URANIUM CORPORATION ANNOUNCES
TEAMING AGREEMENT WITH WASHINGTON GROUP INTERNATIONAL, INC.
TO PURSUE THE MOAB TAILINGS PROJECT
February 1, 2002 (IUC - TSE)...International Uranium Corporation (the "Company")
is pleased to report that it has entered into a teaming agreement with
Washington Group International, Inc. ("Washington Group") to submit an
innovative technical and financial proposal to the U.S. Department of Energy
("DOE") to relocate the Moab uranium mill tailings to the Company's White Mesa
Uranium Mill south of Blanding, Utah (see Figure 1).
Washington Group, a leading international engineering and construction firm, was
formed by the consolidation of Morrison Knudsen Corporation, Westinghouse
Government Services Group, and Raytheon Engineers & Constructors. With more than
35,000 employees at work in 43 states and more than 35 countries around the
world, Washington Group offers a full range of science, engineering,
construction, program management and development services in 14 major markets.
Additionally, Washington Group brings extensive experience in uranium mill
tailings remediation programs through its role as construction manager from 1983
through 1999 for DOE's US$780 million uranium mill tailings remediation program
at 22 sites.
The Moab uranium mill tailings pile, located at the former Atlas Minerals
Corporation site, approximately three miles north of Moab, Utah (see Figure 1),
is now under the control of DOE. The Moab tailings pile contains an estimated 13
million tons of mill tailings, mill debris, other contaminated soils and cover
material. The location of the tailings pile adjacent to the Colorado River and
an environmentally sensitive wetlands (see Figure 2), as well as the ongoing
contamination of groundwater and seepage of pollutants into the river, have lead
the DOE to investigate several alternatives for final remediation of the pile.
One alternative is to stabilize the tailings on-site through the use of an
engineered rock armor cover. Although this appears to be initially less costly,
a number of federal and state agencies, local business interests, downstream
water users, and environmental groups are objecting to this final closure
alternative. Concerns raised by some of the more than 30 million downstream
users of the Colorado River, focus on the risk of continued long-term
contamination of site groundwater and the Colorado River, as well as actual
long-term costs for monitoring and maintenance. In addition to the remediation
in-place alternative, DOE is currently evaluating alternatives for relocating
the pile to the White Mesa Mill using a slurry pipeline or to other potential
relocation sites using alternative transportation methods. Based on a
preliminary plan prepared by DOE, the cost for relocation to one of these other
potential sites has been estimated by DOE to be between US$365 and US$450
million.
The Company and Washington Group believe that relocation of the Moab tailings to
the White Mesa Mill has many economic, technical, and environmental advantages
over in-place final closure or relocation to a new, unproven disposal site.
Relocating the tailings via slurry pipeline to the White Mesa Mill will enhance
long-term environmental, social, and aesthetic values as well as public health
and safety. Engineering on the project to date shows that utilization of proven
pipeline technology, which has a long history of safe operations, will be the
least disruptive to the local communities, enable the relocation to be completed
faster, and, based on preliminary estimates, will be economically attractive
compared to other relocation options being considered.
The Company and Washington Group have committed to provide to DOE a more
detailed cost estimate in the first quarter of 2002 for the White Mesa Mill
alternative, followed by a formal proposal to DOE to be submitted mid-year. Once
DOE determines the preferred alternative and permitting and funding have been
obtained, relocation of the pile will take several years to complete.
The combination of the Company and Washington Group creates a team with
operating and engineering expertise, tailings management experience, remediation
contracting expertise and an existing uniquely qualified disposal site at the
White Mesa Mill. This puts the Company and Washington Group in an ideal and
unique position to make an attractive proposal to DOE for this project.
Headquartered in Denver, the Company is engaged in the business of environmental
remediation and other processing opportunities at the Company's White Mesa Mill.
Further information on the Company can be obtained at www.intluranium.com.
This news release contains forward-looking information with respect to the
Company's operations and future financial results. Actual results may differ
from expected results for a variety of reasons including factors discussed in
the Company's Management Discussion and Analysis section of its 2000 Annual
Report.
ON BEHALF OF THE BOARD
"Ron F. Hochstein"
President
For further information, please contact:
Sophia Shane, Corporate Development (604) 689-7842