According to a Press statement released yesterday by Equinox president and chairman, Craig Williams, Lumwana has commenced the UFS to review and update the 2003-BFS.
Mr Williams said the UFS was anticipated to be completed in the first quarter of next year.
"To this end, the company is pleased to announce that Ausenco Limited has been contracted to manage and implement the UFS," he said.
He said so far a four-phased programme has been designed for the UFS to review the 2003-BFS uranium study, including resources or reserves, metallurgy and process plant design as well as to conduct a further metallurgical test work programme.
He said the other two phases included designing a processing plant and infrastructure to produce yellowcake on-site and prepare capital and operating cost estimates with an accuracy of about 15 per cent.
"Ausenco, in joint venture with Bateman Engineering NV, are currently engaged for the construction contract on the Lumwana copper project.
"In preparation to execute this new contract, Ausenco has assembled a team with considerable uranium expertise that will work in parallel with their construction team already on-site at Lumwana," he said.
Uranium within the Malundwe and Chimiwungo copper deposits occurs as discrete uranium-enriched zones that would be separately mined during the copper mining operation.
An infill drilling programme will be conducted as part of the BFS to facilitate mine design and develop proven and probable reserves.
"The positive long-term outlook for uranium has the potential to further enhance the economics of the Lumwana Project if a uranium by-product is economically viable.
The company is evaluating this potential and considering alternatives for realising any uranium development option.
This uranium feasibility study will, however, not impact on Equinox's current construction schedule for the commissioning of the Lumwana Project in the second quarter of 2008," he said.
It is anticipated that the Lumwana Mine would produce an average of 169,000 tonnes of copper metal per year contained in concentrates for the first six years of its 37-year mine life.
Source: All Africa
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