Peninsula Energy achieves key milestone with restart of uranium production at Lance Project

Peninsula Energy CEO Wayne Heili joined Steve Darling from Proactive to announce significant progress at the company’s Lance Project, marking a major milestone: the successful restart of uranium production. This development comes as Peninsula transitions the project to a low-pH in situ recovery (ISR) process, positioning the company as the first in the United States to implement this globally leading method for uranium extraction.

Heili explained that operations at the Lance Project, which had been idle since 2019, are now in full motion. Uranium-bearing solutions are flowing from the wellfield to the central processing plant, where ion exchange resins are effectively capturing uranium. Over the coming months, Peninsula will focus on commissioning new processing circuits, targeting the production of dry yellowcake by February or March 2025. The company anticipates sales and shipments to commence in Q2 2025, signalling Peninsula’s return to active participation in the uranium supply market.

Heili highlighted the significance of this achievement in the context of global energy trends. With countries around the world aiming to double or even triple nuclear power capacity by 2050, demand for uranium is expected to grow exponentially. “This is a great time to get a project up and running,” Heili noted, emphasizing Peninsula Energy’s readiness to become a reliable supplier to North American and European nuclear power markets.

The restart of the Lance Project also underscores the resilience and dedication of the Peninsula team. Heili praised their efforts in overcoming technical and operational challenges to bring the project back online, reaffirming the company’s commitment to delivering safe, sustainable, and efficient uranium production.

As the nuclear energy industry plays an increasingly vital role in the global shift toward clean, reliable energy solutions, Peninsula Energy is strategically positioned to meet rising market demands. The adoption of low-pH ISR technology places the company at the forefront of innovation in uranium recovery, ensuring it can deliver high-quality supply to support the world’s growing nuclear infrastructure.

#proactiveinvestors #peninsulaenergylimited #asx #pen #UraniumProduction #NuclearEnergy #EnergyMarkets #Yellowcake #LanceProject #UraniumRecovery #EnergyTransition #NuclearPower #UraniumDemand#invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews