Winnipeg Free Press: First Uranium ordered to stop operations at Mine Waste Solutions unit

Toronto-listed First Uranium has stopped trading after the South African National Nuclear Regulator ordered the company to stop disposing waste at its tailings retreatment operations in the country.

Winnipeg Free Press said Monday the regulator ordered its Mine Waste Solutions unit to stop disposing waste on all of its existing tailings storage sites:

First Uranium said the regulator cited “alleged issues regarding pipeline maintenance and non-reporting” for its decision to order the company to halt tailings operations.

“The directive may be lifted by the NNR upon the company demonstrating its compliance with the terms of the directive,” First Uranium said in a release.

” In the interim, the company has complied with the directive and suspended operations. Notwithstanding the above, the company believes that it materially complies with the requirements of the NNR Act and as such will be seeking injunctive relief from the local courts.”

The company’s shares were unchanged at 59 cents when trading was halted Monday afternoon.