Boss Energy (ASX:BOE) is progressing the ramp up at the Honeymoon uranium mine in South Australia, producing 57,364 pounds of triuranium octoxide, as of 30 June 2024.
With NIMCIX column one performing to expectations and construction of column two and three on track for completion in the September and December quarters, the $1.71 billion market capitalised company expects production to total at least 850,000 pounds of triuranium octoxide by 30 June 2025.
Boss says this is in line with the Feasibility Study schedule.
Under its existing sales contract, Boss will make its first delivery to European nuclear utilities, with revenue to be received this quarter.
Managing Director Duncan Craib says the start-up phase at Honeymoon is proceeding to plan, with all key metrics running in line with, or exceeding, the forecasts contained in the Feasibility Study schedule.
“Total production in FY26 is set to meet or exceed our Feasibility Study forecasts at 1.63 million pounds,” he says.
“The addition of columns four, five, and six are forecast to further increase the production rate to nameplate capacity of 2.45 million pounds per annum by year three.”
Over the coming months, the company will focus on optimising the ion exchange, elution, precipitation, and drying and packing process.
Boss Energy is a uranium producer focused on the Honeymoon Project. The company also owns 30% of the Alta Mesa Project in Texas, US.
The nuclear energy debate in Australia was reignited last month by Liberal Party leader Peter Dutton’s proposal to build seven nuclear power plants, which would start coming online in 2035.
Australia has the world’s largest accumulation of uranium resources, almost a third of the global total. The country ranks fourth in terms of uranium production, but currently all that supply is exported.
South Australia and the Northern Territory are the only two regions that allow uranium mining and production.
Write to Aaliyah Rogan at Mining.com.au
Images: Boss Energy
