Peru predicted to be South America's first major uranium producer
Canadian-based junior miner Macusani Yellowcake Inc. (TSX-V: YEL) says Peru could become a major source of uranium in five or six years once it starts production in the country's southeast, according to an interview with Mining Weekly Online.
The miner claims the Macusani Plateau currently hosts about 110 million pounds of ore and potentially has as much as 500 million pounds within it.
Its flagship project has three main deposits — the Colibri 2 and 3, Kihitian plus the Corachapi — that are big, high quality, near the surface and suitable for open pit mining.
The company is actively exploring the rest of the plateau.
It also said it has $6 million cash on hand.
Peru would be the first South American country to produce uranium.
Images courtesy Macusani Yellowcake Inc.