Company considers chemical ND uranium extraction - News Wires - CNBC.com - 0 views
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Energy Net on 28 Sep 09An Australian company exploring for uranium in southwest North Dakota says it believes it may be able to save millions of dollars by pouring chemicals over piles of lignite to extract the radioactive element and other valuable substances. Formation Resources Inc. of Bismarck is a unit of PacMag Metals Ltd., based in West Perth, Australia. The company says the so-called heap-leach process can be done for less than $20 million. Building a processing plant could cost four times that much. The company says the high-grade uranium found in southwest North Dakota is at a shallow depth, usually less than 60 feet. Jim Guilinger, a PacMag consultant, says that makes the heap-leach process more attractive.