Global Atomics’ (TSX:GLO) Dasa uranium project in Niger continues to be supported by the country’s government, the company revealed in its Q2 2024 results, which it said has not been affected by political developments over the past year.
“We came here, we visited the mine, and we launched the earth-breaking operations for the mill construction. Dasa is a reality everyone can see,” Osumane Abarchi, mines minister and commissaire colonel, said in the company’s statement after a recent site visit. “We want Dasa to be the start of new Niger mining practice with expectations on state income, employment and environment management.”
More than 1,200 metres of ramp development has been completed since November 2022 with 7,000 tons of development ore hauled to surface to date.
Uranium spot price update
As of the time of this writing on Wednesday, the uranium spot price sits at US$81.50, according to Business Insider, which is up just slightly from $81.45 from last week.
Uranium companies in the spotlight
Atomic Minerals (TSX:ATOM) revealed its initial prospecting program at its 100-per-cent-owned Archie Lake project in Northern Saskatchewan.
The Vancouver-based exploration company stated in a news release that an eight-man prospecting team will conduct a grab and chip sampling program to explore the property for basement-hosted uranium mineralization.
Madison Metals (CSE:GREN) reported that the Ministry of Mines and Energy of Namibia has granted permission for nuclear fuel extraction for its active Mining Licence 86A at its Khan uranium project in Namibia.
“I wish to extend my sincere gratitude to the Government of Namibia for supporting mining projects for the benefit of their citizens in a calculated and sustainable manner that provides further confidence to foreign investors,” Duane Parnham, CEO of Madison Metals, said in a statement.
Finally, Uranium Energy (NYSEAM:UEC) reported that the startup of uranium production at its past-producing Christensen Ranch In-Situ Recovery (ISR) operations in Wyoming began in early August.
The company stated that all planned startup milestones have been achieved to ensure a successful ramp-up of uranium production.
“The Christensen Ranch ISR Mine has successfully restarted and we are in full growth mode with initial recoveries from Mine Unit 10 to be followed with Mine Units 7 and 8 in the coming months. Additionally, we have drilled, cased and completed 55 wellfield patterns to extend Mine Unit 10 that will commence production in 2025,” Donna Wichers, vice president of the company’s Wyoming operations, said in a statement.
What will be the top uranium headlines next week? Stay tuned!
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