Denison Mines and joint venture partner Orano Canada have announced plans to restart uranium mining operations in the Athabasca Basin region in northern Saskatchewan. The decision comes as a result of improving project and commodity economics.
Utilizing a Innovative Mining Method
The mining operations will employ the JV’s patented surface access borehole resource extraction method. This proprietary mining method is specifically designed to extract high-grade Athabasca Basin uranium ores from the surface.
Restarting Mining at McClean Lake
Mining at the McClean Lake site was previously suspended in 2008 due to a decline in uranium prices. However, the companies have determined that their mining method now supports lower incentive prices than the current uranium market, making it financially viable to restart operations.
Future Plans
The joint venture aims to begin mining at the deposit in 2025, with a target of producing about 800,000 pounds of uranium that year. The present focus is on preparing the site and equipment for continuous commercial operations, along with the installation of new pilot holes.
A Strategic Investment in Research and Development
Orano Canada Chief Executive emphasized that the joint venture’s ability to capitalize on the growing uranium and nuclear markets is due to long-term investment in research and development. This investment has ensured that activities at the McClean Lake operation will continue into the future.
by Adriano Marchese
