22 November 2023
With 440 nuclear power facilities currently operating in 30 countries around the world and a further 50 currently in construction1, the demand for uranium is growing. This demand has been met by depleted stockpiles and constrained supplies, on the back of low uranium prices that have limited the viability of numerous projects.
With 440 nuclear power facilities currently operating in 30 countries around the world and a further 50 currently in construction, the demand for uranium is growing. This demand has been met by depleted stockpiles and constrained supplies, on the back of low uranium prices that have limited the viability of numerous projects.
In this climate Marenica Energy Limited has introduced a new and patented beneficiation process called U-pgrade™. This breakthrough process has the ability to reject more than 95% of mined material mass ahead of leaching, while increasing the Marenica Uranium Project ore grade from 93 ppm to ~5,000 ppm U3O8. The unique process also rejects acid consumers, reducing the overall acid consumption normally associated with extracting uranium.
This dramatic reduction in processing volume combined with reduced acid consumption offers the potential to reduce CAPEX and OPEX by ~50%, when compared to conventional processes for surficial uranium ores. The output is a low-volume, high-concentrate product that reduces the capital costs of operating the processing plant as well as the costs associated with handling and processing tailings.
The lower costs associated with the U-pgrade™ process offers Marenica a set of unique strategic advantages including:
- Marenica Energy can commence development of assets at a lower uranium price
- U-pgrade™ process offers the ability to expedite project development
- The company is positioned to take “first-mover advantage” ahead of other greenfield developments
- Marenica has long term development opportunities in place through an existing multi-asset uranium portfolio
In short, Marenica can take on and develop projects that are not financially viable for its competitors. This ability to explore and develop more viable assets in a uranium market with increasing demands, points to a radiant future for Marenica.
To learn more join us for an investor briefing with Marenica Managing Director Murray Hill on Thursday 15 October at 7pm. Book here.
In this session, Murray will discuss:
- The drivers that see Uranium demand continue to outstrip supply
- Recent significant Uranium discoveries in the Namibia exploration program
- An overview of the U-pgrade™ patented process developed with CSIRO
Reach Markets have been engaged by MEY to help manage their investor communications