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US nuclear regulator accepts Lance expansion plans

3rd February 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – The US Nuclear Regulatory Commission (NRC) has accepted ASX-listed Peninsula Energy’s plans to expand its Lance uranium project, in Wyoming.

Peninsula subsidiary Strata Energy last year submitted a request to the NRC to amend its existing licence at Lance, to include the Kendrick expansion area, within the Ross permit area.

Kendrick is adjacent to Ross and under the current life-of-mine plan was scheduled to come on line during 2019 to supply uranium to the central processing plant.

“Development of the Kendrick expansion area is an integral part of the production growth plans at the Lance project,” said Peninsula MD and CEO John Simpson.

Under the first stage of development, Lance would produce between 500 000 lb and 700 000 lb of uranium oxide (U3O8) a year. Production would increase to 1.2-million pounds a year of U3O8 in the second stage of development.

Stage 3 development would further increase production to 2.3-million pounds a year of U3O8.

Edited by Creamer Media Reporter

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