Alexco Resource Corp. (TSX:AXR,NYSEAMERICAN:AXU) announced that it has received an amendment to its water use license from the Yukon Water Board. The license is for the development, operation and eventual closure of the company’s Flame & Moth mine.
Clynt Nauman, chairman and CEO of Alexco, commented:
The receipt of the Flame & Moth Water Use Licence amendment is the final permit and regulatory authorization required for production from the Flame & Moth mine. Receipt of this licence amendment is a milestone in our journey toward mine operations and has involved the cooperation and support of our many stakeholders and partners, including the First Nation of Nacho Nyak Dun.
The press release also states:
In other business, Alexco announces that it has restructured its US environmental division. In this restructuring, Alexco’s wholly-owned subsidiary, Alexco Environmental Group Inc. (“AEG Canada”) has entered into a share purchase agreement with Arete Property Holdings LLC (“Arete”) for the purchase by Arete of all of the issued shares of Alexco Environmental Group (US) Inc. (“AEG US”) and its wholly-owned subsidiary, Alexco Financial Guaranty Corp. (collectively with AEG US, the “AEG US Group”) for nominal consideration. Arete is wholly-owned by Mr. James Harrington, Senior Vice President and Chief Technical Officer of AEG Canada.
As a result of this transaction, a new Colorado affiliate of AEG Canada, Alexco Water and Environment Inc. will seamlessly continue current and future environmental work in the United States. AEG US Group, together with initial funding provided by AEG Canada required for ongoing administrative and corporate responsibilities, will become subsidiaries of, and will be directly managed by Arete to pursue certain property negotiation rights and further capital opportunities.
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