Renewable resources of Ma Cusani uranium mine in Peru

According to the BNAmericas website, American Lithium has updated the resources of its Macusani uranium mine project in southeastern Peru. At present, the proven and estimated uranium (U3O8) resources of this project are 57.16 million pounds, and the company is preparing to update the economic evaluation report.

The above resources make Ma Cusani the largest undeveloped uranium mine project in South America, the company added.

U3O8, or yellow cake, is a concentrated product sold in uranium mines, and it is also a unit used to measure the metal and determine its price.

The proven ore resources of this project are 10.48 million tons, and the grade of U3O8 is 0.0179%, that is, the U3O8 content is 41.3 million pounds. It is estimated that the ore resources are 111.43 million tons, and the grade of U3O8 is 0.0216%, that is, the U3O8 content is 53.03 million pounds. It is estimated that the ore resource is 114.87 million tons, and the grade of U3O8 is 0.0258%, that is, the U3O8 content is 65.32 million pounds.

According to the company, near-surface mineralization, historical beneficiation and smelting results (rapid leaching and weak acid leaching) and regional infrastructure can make Ma Cusani a low-cost production mine.

Alex Cumis, CEO of the company, said that there are still more than 40 unverified uranium outcrops in the project area, and reiterated that he would become an independent uranium miner.

The company is promoting an updated preliminary economic assessment (PEA), which uses the current price and cost data; In addition, the company also plans to carry out edge expansion and intensive drilling, metallurgical tests, and finally conduct pre-feasibility studies.

In 2025, the capital expenditure of the project is estimated to be $300 million. The goal of lithium industry in America is to start production in 2029.

source:https://geoglobal.mnr.gov.cn/zx/kcykf/resources_update/202611/t20261109_10358244.htm