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Nternational Atomic Energy Agency, 1996. - 130 p.<em>For over two decades, the IAEA has published a large number of reports dealing with uranium geology, exploration, ore processing and, to a lesser extent, also with mining. Almost all of these reports are strongly emphasizing the technology. The economic evaluation at the various stages of a uranium resource project, from exploration to production, is barely covered. The purpose of the present publication is to provide a brief guideline on the various processes, from pre-evaluation to feasibility study, that can be used to test whether a project has a potential of being viable. This is a necessary exercise that can avoid unnecessary expenditure on a project that has no or little economic potential. History has shown that there were too many projects in the uranium exploration and production fields that have been operating for several years, even decades, only to be abandoned for lack of proper economic evaluation at the appropriate time or stage. As more and more countries are switching from centrally planned to the market economy system, the need for a realistic economic evaluation of a uranium production project in these countries becomes more apparent.The IAEA wishes to thank the consultants and their associates who took part in the preparation of this publication: C. Caleix (Compagnie générale des matières nucléaires - COGEMA, France), R.L. Davidoff and D. Boleneus (US Bureau of Mines, USA), J. Goode (KILBORN Inc., Canada). The IAEA officers responsible for this work were M. Tauchidand and J.-P. Nicolet of the Division of Nuclear Fuel Cycle and Waste Management. M. Tauchid also assisted in the preparation of some of the sections and in the final editing.<strong>ContentsGeneral project development procedurePhilosophyStudy stagesExamplesTarget settingProject objectiveGeological targetsPre-evaluationRequirementsGeologyMining considerationsProcess optionsProject optionsCostingDiscussion of simplified cash-flow analysisConclusionPre-feasibilityRequirementsGeneral designProject scheduleCapital and operating costsPre-feasibility cash flow and DCFROR analysisIntermediate assessmentsResource and geological informationMiningProcessingInfrastructureFinancialFeasibility studyA typical feasibility studyFurther cash flow and sensitivity analysisAppendix I: Open pit and underground mine capital costsAppendix II: Definition of various cash flow itemsBibliographyContributors to drafting and review
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IAEA-TECDOC-885 Steps for preparing uranium production feasibility studies: A guidebook INTERNATIONAL ATOMIC ENERGY AGENCY The IAEA does not normally maintain stocks of reports in this series. However, microfiche copies of these reports can be obtained from IN IS Clearinghouse International Atomic Energy Agency Wagramerstrasse 5 P.O. Box 100 A-1400 Vienna, Austria Orders should be accompanied by prepayment of Austrian Schillings 100,in the form of a cheque or in the form of IAEA microfiche service coupons which may be ordered separately from the INIS Clearinghouse. The originating Section of this publication in the IAEA was: Nuclear Fuel Cycle and Materials Section International Atomic Energy Agency Wagramerstrasse 5 P.O. Box 100 A-1400 Vienna, Austria STEPS FOR PREPARING URANIUM PRODUCTION FEASIBILITY STUDIES: A GUIDEBOOK IAEA, VIENNA, 1996 IAEA-TECDOC-885 ISSN 1011-4289 © IAEA, 1996 Printed by the IAEA in Austria June 1996 FOREWORD For over two decades, the IAEA has published a large number of reports dealing with uranium geology, exploration, ore processing and, to a lesser extent, also with mining. Almost all of these re