Extract Resources Completes Feasibility Study on Namibian Project

Extract Resources has completed its definitive feasibility study (DFS) on the Husab uranium project in Namibia.

The DFS was based on indicated resources defined at zones 1 and 2 and envisages mining of 15Mtpa of ore from and 15 million pounds a year of U3O8 equivalent from conventional acid leach plant.

The study has estimated a total project cost of $1.65bn including capital costs of $1.48bn for the project along with initial mine fleet, process plant and supporting infrastructure, and operating costs of $179m.

The firm has begun mine optimisation and resource extension programme to increase the current mine life and optimise process plant and mining operations.

Extract Resources CEO and managing director Jonathan Leslie said additional exploration and resource definition drilling is expected to further increase the already large resource inventory to enable significant extensions to the mine life.