PERTH (miningweekly.com) – ASX-listed Peninsula Energy has been granted final approval from the Wyoming Department of Environmental Quality to use low pH recovery method within the Ross permit area, at its Lance uranium project.
Peninsula on Friday said that switching from an alkaline in-situ recovery to a low pH in-situ recovery operation was expected to significantly lower operating costs and align the Lance project method of uranium recovery with the bulk of global in-situ recovery uranium producers.
“This is a very important step in our plan to re-activate uranium recovery operations at Lance,” said Peninsula MD and CEO Wayne Heili.
“Lance holds the largest defined uranium resource of any recently producing US in-situ recovery project and is the only one authorized to use the industry-leading low pH extraction method.
“We are already in an excellent position to rapidly restart uranium production by transitioning our two fully developed mine units to low pH operations. This decision means that we are now fully permitted to develop a sustainable low pH operation at Lance,” Heili added.
Peninsula’s final investment decision for the start of low pH operations at Lance is dependent on ongoing derisking and optimisation activities, and on the continued sustainable improvement in the market for US-produced uranium.