27 March 2024
27 March 2024
With interest in nuclear power on the rise, the world needs to ensure that the supply of nuclear fuel is maintained. Is classifying uranium as a critical mineral the answer? Kit Million Ross investigates.
Arrow Minerals paid the vendors A$2m ($1.3m) in cash, with another A$500,000 due before the end of June next year.
The funding was awarded from the Strategic Site Readiness Programme (SSRP).
The study will evaluate the potential of a plant capable of producing 32,000 tonnes (t) of lithium carbonate equivalent chemicals.
Initial investment will be made through the subscription for 35,294,117 new ordinary shares in Aberdeen at 8.5p each.
The government noted that last year’s investment was the highest figure recorded in more than a decade.
Up to 2030, global output will then fall due to expected lower production from Peru, India, China, Bolivia and Kazakhstan.
For this acquisition, the company issued 108,204,112 common shares to Rio Tinto Exploration Canada (RTEC).
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