Show Modifies Circular Five On Ore Buying The Atomic Energy Commission this his week modified Domestic Uranium Ura- Ura lum Program Circular 5 5 Revised Re Revised Re- Re regarding the payment of development allowances to producers producers pro- pro of uranium ore Circular 5 Revised which remains remains remains re re- re- re mains In effect until March 31 19 1 6 2 2 establishes guaranteed prices rices for Cor uranium-bearing uranium carno- carno tite Ite and ores of the Colorado Plateau area The circular circular lar ar also provides for Cor a development development development develop develop- ment allowance of 50 c cents cents' per pound lound of contained uranium ox- ox de ide Ide to be spent by ore producers for or the development or or exploration 1 tIon ion of their properties Under the circular sellers ellers desiring desiring deo de de- siring to deliver more than 1000 short i tons of of ore ore during any calendar cal cal- year are required to enter into nto a a contract with the Commis Commis- sion slon The modification announced today oday eliminates the requirement that such sellers submit proof that tuner funds received as development development develop develop- ment allowance have been spent for development or exploration during the tho eon contract tract period or within six months thereafter The modification was WM made necessary necessary essary by b changed conditions f in n domestic uranium exploration and development Development expenditures expenditures ex ex- in early small-scale small uranium mining activities were generally Incurred while mining progressed Today most ore deposits deposits deposits de de- posits are explored and largely developed deve ped prior to the beginning of ore are productions and consequently consequently consequently before beCore contracts are entered into with the Commission The ell elimination of f the accounting provision will wUl permit maximum use of the development allowance as a an an Incentive to uranium exploration exploration ex ex- and development and also will will simplify administration of 01 the allowance program The modified circular V as s publIsh published pub pub- lIsh d today In the Regis Regis- Iter ter |