Jordan to invest US $140 million in uranium mining
News follows discovery of recoverable uranium oxide in the country.
Jordan Uranium Mining Company plans to invest US $140 million in a uranium mining plant, according to a report in the Jordan Times.
The news follows the announcement that Jordan has 36,389 metric tonnes of recoverable uranium oxide.
A partner will be sought to invest in the plant, which will have initial capacity of 300-400 metric tonnes per year, expandable to 1,500 metric tonnes.
“The design and the engineering works on the plant are expected to start in the next couple of years and in four to five years from now the plant is expected to go operational gradually,” said Samer Kahook, general manager of JUMCO, and a commissioner at the Jordan Atomic Energy Commission.
“The uranium extracted through the plant will be either sold on the international market or enriched abroad and brought back to Jordan to be used in the generation of the planned nuclear reactor in the Kingdom,” he added.
By mining uranium domestically for use in its planned nuclear plants, Jordan could save around $2 billion currently being spent to import oil and diesel for its power plants.
The reserve estimate could increase as more exploration work is carried out and if price rises make it worthwhile to recover harder to access reserves.