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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: January 31, 1996
Date of earliest event reported: January 31, 1996
ATLAS CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-2714 13-5503312
(State of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
370 SEVENTEENTH STREET, SUITE 3150
DENVER, COLORADO 80202
(Address of principal executive offices)
(303) 825-1200
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
The news release dated January 31, 1996, a copy of which is attached as
Exhibit 1 hereto, is incorporated herein by reference and made a part hereof.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ATLAS CORPORATION
Date: January 31, 1996 By: /s/ Jerome C. Cain
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Jerome C. Cain
Treasurer and Secretary
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EXHIBIT INDEX
Exhibit No. Description Page No.
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1. News Release dated January 31, 1996 5
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[LOGO OF ATLAS CORPORATION APPEARS HERE]
ATLAS CORPORATION
370 17th St., Suite 3150
Denver, CO 80202
NEWS CONTACT: ROBBIN LEE
FOR IMMEDIATE RELEASE (303)825-1200
NRC RELEASES REPORTS ON RECLAMATION PLAN FOR MOAB URANIUM FACILITY
_______________________________
Denver, CO, January 31, 1996 -- Atlas Corporation (NYSE:AZ) announced
today that the Nuclear Regulatory Commission (NRC) has released the Draft
Environmental Impact Statement (DEIS) and Draft Technical Evaluation Report
(DTER) regarding the Company's proposal for on-site reclamation of tailings
associated with its discontinued uranium processing facility located near Moab,
Utah. The public comment period on both documents will be 60 days beginning
January 30, 1996.
Atlas' proposed reclamation plan consists of contouring the tailings
to reduce side-slopes and allow precipitation to drain naturally. Also an earth
and rock cover system would be installed over the pile. The current plan was
originally submitted in 1988 and modified in 1992. Commenting on Atlas'
proposed plan, which is one of three alternatives described and evaluated for
potential environmental impacts in the DEIS, the NRC staff's preliminary
conclusion in the DEIS is that "...this alternative is acceptable with respect
to environmental costs and benefits." The DTER evaluates Atlas' compliance with
the NRC's technical and safety criteria. Approximately 20 items which need to
be addressed prior to final approval of Atlas' plan are identified in this
document by the NRC. The requisite studies necessary to address the open items
have been completed.
Richard E. Blubaugh, Atlas' Vice President of Environmental and
Governmental Affairs, stated, "This is a major step in what has become a long
and arduous process. The preliminary conclusions of the NRC's staff affirm what
Atlas has asserted throughout this process, that our proposal to reclaim the
pile in place is acceptable and less costly than the alternative. We believe
the DEIS supports the Company's view that its proposal is lower in risk to human
health from radon exposure than the alternative. Independent contractors have
completed studies on the open issues identified in the DTER. The conclusions of
these experts strongly support the capping in place option proposed by Atlas.
Hopefully, the resolution of this process will be expedited so that we can
proceed quickly with final reclamation of the tailings, a process which we
believe is in the best interest of everyone."
-more-
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Mr. Blubaugh further noted that in 1995 an independent assessment of
the risks associated with tailings reclamation under the same three alternative
plans addressed in the DEIS was undertaken. In addition to the option of "No
Action," the report evaluated reclamation of the tailings at the existing
location versus relocation to an alternative disposal site. The risk assessment
determined that "both potential radiological and nonradiological risks
associated with reclamation by relocation of the tailings pile to an alternative
site are significantly higher than such risks associated with on-site
reclamation." The study found that moving the tailings increased radon exposure
to both the general public and the site workers as well as significantly
increasing the risk to both workers and the general public of fatal accidents.
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