Extract Resources has announced that it has completed its definitive feasibility study (DFS) on the Husab uranium project in Namibia. Extract has defined a base case mine plan and process plant design, including plans for delivery of the infrastructure necessary to support the project. The company states that the DFS has demonstrated the technical and economic viability of developing Husab, the world’s fifth-largest uranium-only deposit.The operation will involve open pit mining by truck and shovel from two separate pits to maintain a sustained rate of 15 Mt/y over the life of mine with an average strip ratio of 7:1 (waste:ore); a waste and plant tailings storage facility (the mine residue facility); ore crushing and overland conveying to a new processing facility employing milling, leaching, ion exchange, solvent extraction and precipitation. The mine will produce approximately 15 Mlb/y of U₃O₈ equivalent. Capital costs for the Project are estimated at $1,480 million, including the initial mine fleet, process plant and supporting infrastructure. Inclusive of pre-strip and other pre-production operating costs of $179 million, the project  cost is estimated at $1,659 million.

Extract has engaged with potential customers to assess demand for production from the Husab uranium project, and has identified several possible strategic contracting opportunities. Extract said it is “confident that it will become an attractive supplier to end-users, as a result of the Husab uranium project’s ability to offer geographic diversification and long term security of supply.”