Sparton Energy Wins World Finance Technology AwardBy World Finance, PRNE
Sunday, October 31, 2010
LONDON, November 1, 2010 - Sparton Energy Inc, a wholly-owned subsidiary of Sparton Resources Inc of
Canada, has won the World Finance award for Best Clean Tech Company of the
Year, 2010, Asia.
Sparton Energy is the only foreign company in the world that can legally
produce uranium from any source in China. This unique status is thanks to
Sparton Resources' Environmental Remediation System - a method of
economically removing uranium from radioactive coal ash and other forms of
waste. In bestowing Sparton Energy with this award, World Finance is
recognising the company's strong contribution to the energy sector and
economy of China, as well as its excellent work in mitigating the hazards of
this important fuel source.
Accepting the award at the London Stock Exchange, Lee Barker, the
President and CEO of Sparton Resources, thanked all the people who had worked
hard to develop its waste recovery technology, including the China National
Nuclear Corporation, with which Sparton Energy first developed the research
and technology that led to the current joint venture.
In a filmed interview with World Finance, available now on
www.worldfinance.tv, Mr Barker explains how China has set out plans to
increase the contribution of nuclear energy to its electricity grid to over
six percent by 2015 - up from less than one percent five years ago. "China
needs desperately, and has the largest demand in the world currently for, new
sources of uranium," Mr Barker explains. "They've been going outside the
country to buy deposits… but internally there's been a lag in the
development of uranium production. We hope to be able to support that with
our internal source of uranium for them from waste."
The benefits of processing waste ash, phosphate and mine waste include
the fact that the source material is located in readily accessible areas,
with power, water, infrastructure and a ready labour pool. And, as Mr Barker
points out, the material does not have to be mined, dramatically reducing
costs: even though today's spot uranium price is just creeping over one third
of its mid-2007 peak, profits should be achievable. The added benefit, and
the reason Sparton Energy is uniquely permitted to work in China, is that
after processing, the once hazardous materials can be safely recycled into
The full interview can be found at
www.worldfinance.tv/energy/barker-video. For more information on
Sparton Resources search for 'Sparton' on www.worldfinance.com or
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Tags: canada, China, London, November 1, World Finance