Roessing extends mine life to 2021

Roessing extends mine life to 2021

JOHANNESBURG – Rio Tinto’s Roessing Uranium mine hopes to extend the life of the mine to 2021 and aims to boost output by 12,5 per cent to 4 500 tonnes in 2008, an official said yesterday.

Roessing, a large open-pit uranium mine, has a life of mine to 2016 and expects to produce 4 000 tonnes of uranium this year. The official at Roessing, who declined to be named, said Roessing had just started a process of conducting a social and environmental impact assessment for the extension of the mine’s life, but the project had not yet won approval by Rio’s board of directors.”We are just in the feasibility study stage before we can get to the approval process with the board.I don’t think the money has been outlined yet, it’s early stages,” the official said.Roessing would ramp up output towards its capacity of 4 500 tonnes of uranium by sometime next year, the official said.The increase will be reached through technical innovations, opening of new mining pits and establishing new processing facilities with associated waste storage facilities, the company said on its website.The expansion includes a new sulphur-burning acid plant on the mining site, and sulphur storage in the Walvis Bay harbour.Roessing’s life of mine was extended to 2016 in 2005.Rio Tinto owns 68,6 per cent of Roessing.As a primary producer of U3O8 uranium, Roessing accounts for about 7,7 per cent of world production.The spot price of uranium hit an all-time high of US$136 per pound in June, up from US$7 in 2000, which has spurred a new rush to find deposits of the material, which is used for electricity generation.Nampa-ReutersThe official at Roessing, who declined to be named, said Roessing had just started a process of conducting a social and environmental impact assessment for the extension of the mine’s life, but the project had not yet won approval by Rio’s board of directors.”We are just in the feasibility study stage before we can get to the approval process with the board.I don’t think the money has been outlined yet, it’s early stages,” the official said.Roessing would ramp up output towards its capacity of 4 500 tonnes of uranium by sometime next year, the official said.The increase will be reached through technical innovations, opening of new mining pits and establishing new processing facilities with associated waste storage facilities, the company said on its website.The expansion includes a new sulphur-burning acid plant on the mining site, and sulphur storage in the Walvis Bay harbour.Roessing’s life of mine was extended to 2016 in 2005.Rio Tinto owns 68,6 per cent of Roessing.As a primary producer of U3O8 uranium, Roessing accounts for about 7,7 per cent of world production.The spot price of uranium hit an all-time high of US$136 per pound in June, up from US$7 in 2000, which has spurred a new rush to find deposits of the material, which is used for electricity generation.Nampa-Reuters

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