Cotter Corporation

Company Profile
Cotter Corporation N.S.L. is headquartered in Denver, Colorado. Originally incorporated in 1956 in New Mexico as a uranium production company, Cotter was purchased by and became a wholly owned subsidiary of Commonwealth Edison in 1975. Through its various mining and milling operations, Cotter has produced uranium, vanadium, molybdenum, silver, lead, zinc, copper, selenium, nickel, cobalt, tungsten and limestone.

Operations Cañon City Mill - The mill, located near Cañon City, Colorado, has a nominal capacity of 1,200 tons per day. The mill has the capability and is licensed to process a wide range of uranium-bearing feed material, as well as performing specialized milling campaigns. The Cañon City mill can be operated using an alkaline leach uranium circuit or an acid leach circuit depending on ore chemistry.

Uravan Mineral Belt Uranium/Vanadium Operations - Cotter has acquired numerous uranium/vanadium properties in the Uravan Mineral Belt of western Colorado, and currently owns or controls 15 uranium/vanadium mines in southwest Colorado. Combined recoverable reserves for the properties are approximately 20 million pounds U3O8 (7,700 mtU) and 100 million pounds (45,400 tonnes) V2O5. Uranium/vanadium ores occur in channel sandstones mineable primarily by underground methods. Presently, all the western Colorado operations are on standby status.

Schwartzwalder Mine, Colorado ­ Cotter acquired the Schwartzwalder mine in 1965. The property was developed as a multi-level, hard rock underground mine. Uranium mineralization occurs in steeply-dipping veins within Precambrian gneisses and schists. Total production from the Schwartzwalder has been approximately 17 million pounds U3O8 (6,500 mtU), with additional resources of 16 million pounds U3O8 (6,150 mtU) identified. Based on long-term forecasts for a weak uranium market, the decision has been made to place the mine on temporary standby and begin reclamation of the property.

Wyoming Uranium Properties - Cotter¹s uranium holdings in Wyoming are the undeveloped Charlie and Taylor Ranch deposits. Both properties are located in the Southern Powder River Basin in northeast Wyoming. The Charlie deposit, owned 100% by Cotter, contains 4.2 million pounds U3O8 (1,610 mtU). Cotter Corporation owns a 50% interest in the Taylor Ranch deposit through a joint venture with Cameco Corporation. Cotter¹s share of the Taylor Ranch uranium reserves is 5.0 million pounds U3O8 (1,900 mtU).

The company has worked extensively with the State of Colorado and the Environmental Protection Agency to develop a Remedial Action Plan and with the State of Colorado to establish a Total Quality Environmental Management Project to deal with environmental issues related to Cotter¹s operations. The Colorado Department of Public Health and Environment recognizes Cotter as a responsible operator. Through cooperation with that agency, Cotter has been acknowledged nationally as a model for Total Quality Environmental Management.