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Re: News Release - Thursday, February 05, 2009
Domestic Supply of Beryllium a Critical Issue States Pentagon
Board
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VANCOUVER, BC. - February 5, 2009 - International Beryllium Corporation
(TSX-V:IB) ("IBC" or the "Company") announces that on February 3, 2009
the United States Department of Defense and a special Pentagon board
published a report stating that high purity beryllium is a critical
material for which domestic sources of supply need to be ensured.
The Pentagon board has ruled that some specialty metals are not
materials critical to national security eliminating a national security
reason for the Defense Department to ensure a long-term domestic supply
of such materials. High-purity beryllium, however, is a critical
material, the report maintains.
"This report underscores the potential importance of our recently
acquired Colorado and Utah exploration properties as well as the
historically productive Boomer mine in Colorado," said Anthony Dutton,
President and CEO of International Beryllium. "This Pentagon report
completely validates our strategy of North American mineral asset
acquisition which is also being driven by the potential for beryllium
containing nuclear fuels and the demand from military, industrial and
other markets where the light weight and other qualities of beryllium
are so important."
"Even in peacetime, defense applications dominate the market; beryllium
is essential for important defense systems and unique in the function
it performs," indicates the report. "In addition, domestic production
capabilities have atrophied, and there are no reliable foreign
suppliers. Accordingly, the Department should continue to take those
special actions necessary to maintain a long-term domestic supply of
high-purity beryllium."
John Young, the defense acquisition executive, submitted the finding to
Congress in a January 26, 2009 report mandated by lawmakers. The report
followed a December 12, 2008 meeting of the Strategic Materials
Protection Board, chaired by Young and comprised of representatives
from the Office of the Secretary of Defense, the service acquisition
executive offices and the under secretary of defense for intelligence.
The Strategic Materials Protection Board discussed and approved the
definitions of strategic and critical materials proposed by the
executive secretary during its meeting, the report states. "As a result
of the modified definition for critical materials, any material
designated as critical will require a risk assessment and a strategy to
ensure domestic availability," the committee explains.
The status of specialty metals used to make sensors, armored vehicles,
satellites and other items has long been a congressional concern. The
Defense Authorization Act mandated the creation of the Strategic
Materials Protection Board to oversee their use and supply.
About International Beryllium Corporation
International Beryllium Corporation is a global exploration and
development company focused on beryllium, beryllium oxides and
beryllium master alloys. Beryllium and related alloys are used in a
broad range of specialized industrial applications such as nuclear
power, oil and gas, defense, electronics and automotive. International
Beryllium's common shares are traded on the TSX Venture Exchange under
the symbol IB.
For additional information please contact:
International Beryllium Corporation
Anthony Dutton, CEO
(604) 685-6263 ext 111
Email: adutton@internationalberyllium.com
Website: www.internationalberyllium.com
This news release was prepared by management of IBC, which takes full
responsibility for its contents. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy of this
news release.
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Copyright (c) 2009 INTERNATIONAL BERYLLIUM CORPORATION (IB) All rights
reserved. For more information visit our website at
http://www.internationalberyllium.com/ or send
mailto:ba@primarycapital.net
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IBC Advanced Alloys Corp
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CODE : IB.V |
ISIN : CA44923T6034 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
IBC Advanced Alloys is a development stage company based in Canada. IBC Advanced Alloys is listed in Canada. Its market capitalisation is CA$ 2.4 millions as of today (US$ 1.8 millions, € 1.7 millions). Its stock quote reached its highest recent level on May 27, 2011 at CA$ 1.98, and its lowest recent point on April 22, 2016 at CA$ 0.04. IBC Advanced Alloys has 30 350 000 shares outstanding. |