Peninsula Energy, an ASX-listed company, has officially resumed uranium production at its flagship Lance project in Wyoming, USA, after a five-year pause, Creamer Media’s Mining Weekly reports.
This development marks a major milestone for Peninsula as it transitions into North America’s newest fully independent producer of uranium yellowcake.
The restart is significant because it represents the first production at Lance under a low-pH in situ recovery (ISR) process, a more modern and efficient method of extracting uranium. This approach aligns with Peninsula’s broader strategy to become a key player in the uranium market, supporting the growing demand for nuclear energy as a clean, reliable energy source.
Wayne Heili, Peninsula’s Managing Director and CEO, described the restart as a landmark achievement for the company and its stakeholders.
“This is a very exciting moment for the team and our shareholders to have finally pressed the button on starting production,” Heili said. “This has been years in the making, a lot of hard work, and with a fair share of challenges, so we are grateful to the team involved and for the ongoing support of our shareholders.”
The timing of the restart comes as global interest in nuclear energy surges, driven by the search for low-carbon, sustainable energy alternatives. Heili emphasized the significance of this market environment, stating:
“We have restarted Lance at an opportune time, with the long-term fundamentals and demand for uranium incredibly strong, as nuclear energy grows into the leading and most reliable clean energy solution.”
While production has officially begun, Peninsula is still in the early stages of its ramp-up process. The company will continue construction efforts and gradually increase production, with the ultimate goal of reaching commercial production of dry yellowcake, a key material used in the nuclear fuel cycle.
The Lance project’s restart positions Peninsula as a critical player in the US uranium supply chain, a move that aligns with growing efforts to boost domestic energy security and reduce reliance on foreign sources of uranium. As nuclear power continues to gain traction as a viable clean energy solution, Peninsula’s production at Lance is poised to play an essential role in meeting global energy needs.
With the successful restart of Lance, Peninsula Energy aims to solidify its place as a key contributor to a low-carbon future while delivering sustainable, secure uranium supply for the growing nuclear energy sector.
