Niger has issued Global Atomic its environmental compliance certificate for the Dasa project and has renewed six exploration permits, the Toronto-listed uranium project developer announced on Friday.
The company now has all government approvals to advance the development of the Dasa project towards commercial production, president and CEO Stephen Roman said.
Global Atomic is targeting the first quarter of 2022 to begin earthworks to build the mine, which will produce 4.4-million pounds a year of U3O8 at an all-in sustaining cost of $18.39/lb over 12 years.
“We continue to work towards the completion of the feasibility study and have begun discussions with utilities with regard to offtake agreements and financial institutions with regard to project financing,” Roman stated.
According to an April 2020 preliminary economic assessment, the Phase 1 Dasa project will require capital of $203-million. The project has an after-tax net present value, at an 8% discount, of $211-million and an internal rate of return of 26.6%.