Argentina presents a key opportunity in the development of natural resources and energy in Latin America, Patagonia has large batteries of metals and rare earths
– Shahal Khan CEO of Burkhan World
WASHINGTON DC, WASHINGTON DC, United States, September 21, 2021 /EINPresswire.com/ – Washington, DC, September 20, 2021 / –
UrAmerica Ltd. (UrA), Argentina’s leading uranium explorer and developer, is pleased to announce that it has signed a Letter of Intent (LOI) and Term Sheet (TS) for funding of $ 65,000,000 per through BIDC, Inc., a Washington, DC-based subsidiary of Burkhan World Investments.
Funding will be provided to accelerate development and mining in uranium production as well as fund and feasibility analysis for the extraction of other battery metals critical to the clean energy economy, including lithium, zirconium, gold and copper.
Demand for nuclear fuel from domestic resources as well as global markets continues to exceed supply as countries turn to energy self-sufficiency and climate-friendly solutions. UrAmerica is focused on the development of uranium production via the low cost, low impact method of in situ recovery (ISR) in the province of Chubut. Six (6) barrels of uranium produce the energy equivalent of two hundred and twenty thousand (220,000) barrels of oil, making it the optimum source of energy for rapidly solving the climatic problems of the nations of the world.
Omar Adra, Executive Director, CEO of UrAmerica commented on the agreement: “UrAmerica is very excited to look to this funding from Burkhan International Development Corporation, to build a world-class mining platform. supporting EBID’s strategy to source critical metals through clean energy production and infrastructure on a global scale. UrAmerica is committed to making a significant global contribution to achieving the net zero carbon goal the planet needs ”.
EBID President Shahal Khan added: “EBID is delighted to have signed this funding commitment with UrAmerica to enable a carbon-free future as well as to develop what we believe to be one of the greatest deposits of potential strategic metals in South America. This transaction is strategic for the United States for the future security of the supply chain in this sector. We hope to list UrAmerica’s in the near future on the US stock market to allow it to accelerate its schedule of uranium production and exploration of key minerals such as lithium.
The funding will also lead to a restructuring of the company to become a US company based in Washington, DC.
Global policy initiatives in favor of nuclear energy, Biden’s proposed budget for fiscal 2022 includes production tax credits to support at-risk power plants ($ 9.7 billion through 2031). This is funding to procure advanced nuclear energy ($ 3.5 billion until 2026). The EU said nuclear power does not cause significant damage and that inclusion can help support continued and new investments in nuclear capacity in Europe, ending early reactor shutdowns. The United States, Europe, China and Japan recognize nuclear’s vital role as a carbon-free energy source and plan to generate 20% of electricity from non-fossil sources by 2030. against 5% in 2019.
About UrAmerica Ltd.
UrAmerica is a private uranium exploration company incorporated in London with operations in Argentina and Paraguay. The company has focused its efforts on property development and has successfully consolidated a set of very promising land in the province of Chubut in Argentina. UrAmerica’s land position covers many uranium exploration areas and the basin is known to harbor many other minerals, such as gold, copper, lithium, vanadium, molybdenum, rare earths, etc. The company adheres to the strictest environmental, safety and hygiene standards, in accordance with local laws and regulations and global market practices, and is committed to preserving 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 across the globe through bottom-up infrastructure solutions and building global platforms and supply chains with our partners to serve the new economy of the clean energy and industry 4.0. We are leaders in finance, innovation, energy infrastructure, connectivity and technology who can unlock communities’ circular economies to improve their incomes, health, education and well-being. leveraging smart community infrastructure towards a more climate-friendly inclusive planet.
EBID strives to become the premier nation-building development toolkit in the United States to empower the lives of citizens around the world.
EBID: Camille Chetrit: [email protected]
Omar Adra: [email protected]
This press release contains forward-looking statements and information within the meaning of applicable securities laws. All statements, other than statements of historical fact, included in this press release that deal with activities, events or developments that UrAmerica expects or anticipates will occur or may occur in the future, including statements as to the potential success of any current and future exploration, the ability to discover and develop a world-class uranium deposit in the province of Chubut, Argentina, the benefits to provincial and local communities, and respect for timely of some predetermined milestones. When used in this press release, the words “potential”, “indicate”, “expect”, “intend”, “hope”, “believe”, “may”, “will be” “,” 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 that may cause UrAmerica’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by such statements. . These factors include, among others, the risks and dangers associated with the activity of exploration, development and mining, the speculative nature of mining exploration and development, including the risks of obtaining licenses. and necessary permits, changes in national and local government, legislation, taxation, controls or regulations and political or economic developments in Argentina, risks relating to the title of property of UrAmerica; the potential effects on UrAmerica’s operations of environmental regulations in Argentina; risks due to legal proceedings; risks associated with political and economic instability Argentina. Although UrAmerica has attempted to identify material factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, other factors may cause actual results to differ from those described. anticipated, estimated or planned.
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