Forsys looks to improve project economics for Norasa uranium project in Namibia

March 19, 2023

Forsys Metals Corp's Valencia Uranium has appointed DRA Mineral Projects to conduct trade-off studies for its Norasa Uranium Project in Namibia.

The project, which is expected to take eight weeks, will involve a review of testwork information to confirm optimal grind size, cost evaluations, materials handling, and tailings handling, as well as qualitative risk assessments to select the best design basis for further Definitive Feasibility Study validation.

"The appointment is a key element towards engineering and design optimization at Norasa. We are confident that the studies will highlight opportunities to improve the project economics in a market where uranium is now being treated as an environmentally sound renewable energy source,” Forsys CEO Mark Frewin said.

The appointment of DRA comes after Forsys Metals Corp contracted Ausenco Limited in 2022 to review a 2015 Definitive Feasibility Study for any potential technical gaps and upgrades and to identify cost-saving initiatives. Ausenco Limited made recommendations for technical optimization and cost-saving opportunities compared to the original DFS reported in 2015.

The feasibility study, prepared by engineering consulting firm Amec Foster Wheeler, envisioned Norasa as a 15-year open-pit mine producing 5.2 million lb. uranium oxide (U3O8) per year at an estimated US$433 million capital cost.

Norasa is comprised of two main pits - Valencia and Namibplaas - which were combined by Forsys in early 2013, along with a smaller satellite pit adjacent to Valencia.

The company's flagship project sits 35 km along strike from the Rossing mine, one of the largest uranium mines in the world.

The appointment comes as Uranium is being treated as an environmentally sound renewable energy source, increasing its demand

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Last modified on Monday, 20 March 2023 12:31

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