Marenica challenges mining conventions
The use of the technology could come at an opportune time as the spot level of uranium on the commodities market is very low.
14 November 2017 | Business
The prospective miner is currently testing its technology, which it says has the potential to reduce the cost associated with uranium mining.
The use of the technology could come at an opportune time as the spot level of uranium on the commodities market is very low owing to reduced demand for the resource, particularly in Japan.
The technology is currently on trial using Namibian ore from the Langer Heinrich mine, as well as ores from Deep Yellow and Marenica itself.
Both Marenica and Deep Yellow hold local mining concessions.
Marenica managing director Murray Hill said the results would be released before the end of the year.
He remained tight-lipped about the provisional test results but said Marenica was still engaging actively with potential buyers of its processing technology.
“We are speaking to a number of resource owners about the application of the groundbreaking U-pgrade process technology to their resources. We have a technology licence agreement in place with Deep Yellow Limited on the Tumas deposit,” said Hill.
The Langer Heinrich mine was equally upbeat about the use of U-pgrade processing technology to process its low-grade ore stockpiles.
“It is not unlikely that the [technology] could be used to upgrade all of LHU’s low-grade ore stockpiles,” mine spokesperson Bernadette Bock said in her brief discussion with Market Watch.
In 2012 Marenica embarked on a research and development programme to develop a uranium concentration process that was unique and groundbreaking and lowered the extraction cost of uranium at the Marenica uranium project.
Since that time Marenica has undertaken considerable test work and analysis of its ore to refine the process. This initial test work cost over US$3 million, and included successful tests on three tonnes of ore from the Marenica Project.