Presently, our research work is at the field trial stage and is expected to be completed in the second quarter of the current year. The results obtained will be used to establish viability of the ISL mining method.

Mkuju River Project in Tanzania is among the world’s most promising uranium projects. Uranium One Inc. acts as the project operator. The project is currently maintained in the active status as research work and preparatory operations are under way. “Taking into account the world’s low prices for natural uranium, our company has been implementing a number of measures to increase commercial efficiency of all mining operations, including our Mkuju River Project in Tanzania,” – Vasily Konstantinov, the President of JSC “U1 Group” noted. – “If we establish that it is feasible to arrange a commercially viable uranium production using ISL technology, our company will be able to make a decision to mine the deposit by combining two production methods, i.e. conventional mining and ISL. This would be one-of-a-kind experiment as ISL production has never been previously combined with other methods at a single deposit elsewhere in the world.”