Global Atomic to break grounds on Dasa uranium project in Niger in January

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Global Atomic to break grounds on Dasa uranium project in Niger in January

Global Atomic is set to break grounds at its Dasa uranium project in Niger next year January. This follows a successful completion of feasibility study for the first phase of the US $208M project.

The study confirms that the project is economic even at a price of US$35 per lb. uranium oxide, thanks to an estimated all-in sustaining cost of US $21.93 per lb. They will begin underground development in April. The processing plant is to be commissioned by the end of 2024. The project is already fully permitted.

Phase two works

With initial capital costs pegged at US$208 million, the Dasa project has an after-tax net present value (using an 8% discount rate) of US$157 million and an internal rate of return of 22.7%. The project will pay for itself over the first five years of operation. Over a 12-year mine life, 45.4 million lb. of uranium oxide (U3O8) will be recovered.

At a mining rate of 1,000 t/d and an ore head grade of 5.18% U3O8, annual average production is forecast at 3.8 million lb. U3O8. The probable reserve is 4.25 million tonnes grading 5.18% U3O8 for 48.6 million lb. of U3O8. Phase one mining will take place in the Flank zone, which represents only 20% of the known Dasa mineralization. Phase two will also recover underground ore, and after several decades, phase three will consider an open pit to mine the lower grade surface mineralization.

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