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Peninsula to exit Karoo uranium projects in South Africa

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Peninsula to exit Karoo uranium projects in South Africa

Peninsula Energy Ltd. decided to sell its 74% interest in the Karoo uranium projects in South Africa through an active process over the remainder of the year, it said Oct. 18.

With the ongoing challenges in the uranium market, the company will focus on the operating Lance project in Wyoming to best take full advantage of its long-term sales contracts, which are well above current and forecast spot prices and extend out to 2030.

Peninsula may elect to retain some level of exposure to the Karoo projects, but at a significantly reduced level.