Developed using ore from Marenica's Namibian operation, its U-pgrade technology can potentially revolutionise the way in which uranium mines will be developed in future. Reducing operating costs by up to 70% as compared to conventional processing techniques, Marenica's U-pgrade can be described as a potential game changer.
Chief Executive Officer of
He said "The U-pgradetechnology reduces operating costs by 50% to 70% compared to conventional process technology making more projects viable at current uranium spot prices. An increase in uranium price would result in an improved financial outcome and most likely an increased demand for the technology from lower grade resources."
Marenica recently raised capital for the construction of a pilot plant in
Said Murray, "The specific project development strategy and the uranium price will determine the timeline but it would be expected that a commercial plant could be operational within 3 years."
According to Murray, part of the commercial strategy is to raise funds for the construction of the plant.
Added Murray, "The plan for commercialisation of the U-pgrade process is application to either higher grade resources at these low uranium prices, or projects that have already spent capital [where] the marginal development cost to apply U-pgrade(TM) would be relatively low."
Murray added that the pilot plant was designed for a throughput of 60 kilograms per hour and will be operated for approximately one month, using ore obtained from three different mining operators. The results of the pilot project are expected in the first quarter of 2015.
The pilot plant will be located in
Marenica holds a mining license just north of
In 2012, Marenica embarked on a Research and Development programme to develop a uranium concentration process that was unique and ground breaking and lowered the extraction cost of uranium at the its Namibian project. Marenica has subsequently applied for a patent which will be known under the trademark of U-pgrade.
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