The PhosEnergy Process has the ability to add value to many facets of a phosphoric acid producer’s operation, namely:

  • Additional revenue through accessing uranium at market competitive operating costs;
  • The ability to source and introduce lower quality rock, at lower prices;
  • Unlocking a large, dormant and proven source of uranium which is readily accessible; and
  • Diversification of revenue.

With significant experience in the uranium business, PhosEnergy and Cameco can bring the above advantages to a potential development partner, plus:

  • Patented technology for the removal of uranium from phosphoric acid;
  • The technical support to design, build, commission and operate a facility to extract uranium from phosphoric acid;
  • Experience in all facets of the uranium industry, including:
    • Stakeholder engagement (Regulators, community);
    • Radiation safety management; and
    • Marketing and sales.
    • Ongoing technical support or operational management of the facility.

Commercial discussions around the split in revenue on a commercial application of the PhosEnergy Process on an operating phosphate facility will be required to allow an investment decision to progress the project further.

These commercial negotiations will consider the capital risk taken by both parties, the phosphate producer’s appetite for exposure to the uranium market and the long mine life of phosphate projects – generally over 20 years.

In August 2013, PhosEnergy together with Cameco Corporation, entered into an Agreement with a US based fertilizer producer to assess the commercial viability of applying the PhosEnergy Process to the producer’s existing operations. The Agreement covers on-site operation of the PhosEnergy demonstration plant with the results providing inputs to a pre-feasibility study. The pre-feasibility study will allow the parties to assess the economic viability of the Process and make a commercial decision on progressing further toward a full scale operation.

The current focus of the PhosEnergy team is on the phosphate fertiliser industry in the USA, where we estimate there is an opportunity to recover approximately 6 million pounds of uranium per annum.

PhosEnergy estimates that a commercial facility could be constructed and commissioned within three years of the commencement of a DFS.

Given the results achieved to date in the development of the PhosEnergy Process, there is potential for PhosEnergy and its partners to secure a significant global position in future uranium production from phosphoric acid.