In October 2011, the B.C. government agreed to pay $30 million rather than face a court decision to settle Boss Power's claim that the government's policy change expropriated its uranium assets.
However, when government changed its policy in April 2008 by establishing a "no registration reserve" on uranium, which effectively is a ban on uranium exploration and mining, the province's drafted and redrafted PR messaging shows government dancing around responsibility – and compensation demands – from the decision's fallout.
The following is from an April 2008 government Q&A document addressing possible questions about the de facto uranium ban.
Q: Does government have the power currently, under current legislation, to take back privately held uranium?
A: No, but the province will not support the development of uranium or thorium.
Q: What about companies that have investors who hold shares in a uranium project in B.C. whose value may fall due to the no registration reserve. Will government compensate them for their lost investment?
A: Under a standard “Mineral and Coal, Exploration and Activity Permit” there is already a clause that states: “Uranium and Thorium – Exploration for uranium or thorium is not approved under this permit.”
Q: What is the difference between a no registration reserve and a moratorium for uranium exploration? Why are you not just putting another moratorium in place?
A: The no registration reserve prevents the acquisition of uranium as of today. Our policy is to not support the development of uranium, which has the same effect as a moratorium.
Q: Would you have to pay compensation if a moratorium was in place?
A: This is a hypothetical question because we’re not putting in place a moratorium; we’re establishing a no registration reserve.
