Peninsula delivers first uranium from Lance
PERTH (miningweekly.com) – Uranium miner Peninsula Energy has completed its first delivery under a 2011 sales and purchase agreement with a US-based utility.
Uranium recovery operations from the Lance project, in the US, started in December last year.
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.
Peninsula has four significant uranium concentrate sale and purchase agreements in place for a major portion of production over the first five years of the Lance operation.
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