COMMODITIES
The Husab uranium mine, operated by Swakop Uranium, is
located close to Rössing and combined with Ida Dome, it is
set to become the second largest uranium mine in the world.
The mine is 90% owned by China's public enterprise, China
General Nuclear Power Holding Company and the China-Africa
Development Fund. The remaining 10% is owned by Epangelo
Mining, Namibia's loss-making state-owned company.
The Trekkopje mine, owned by Orano Resources (previously the
Areva Group), has put the project on care-and-maintenance.
The mine has constructed a desalination plant which is
expected to be operating until around 2024. Other known
uranium project includes Forsys Metals Corporation’s
development of the Valencia and Namibplaas uranium
deposits, located just north of Langer Heinrich. In addition,
Bannerman Resources is involved in the Etango project, just
south of Rössing, while ASX-listed Deep Yellow announced
in early 2020 that they would be undertaking a Prefeasibility
Study (PFS) on their Reptile uranium project’s Tumas deposit,
following a positive scoping study. According to Deep Yellow,
the aim is to develop a multi-mine, five- to ten-million-pound-
a-year low-cost uranium production company with the
expectation of each project achieving a minimum of two- to
three-million-pound-a-year production capacity. It is expected
that the PFS will be completed by December 2020.
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More projects in the pipeline
Opportunities in the uranium sector of Namibia abound, and it
does seem that more companies are considering investing in
uranium again. Marenica Energy, an Australian-based company,
was recently awarded five exploration licences covering an
area of 180km2. This makes Marenica the largest tenement
holder, granted and in application, for nuclear fuel minerals in
Namibia. Russia’s Rosatom also has a project in Namibia. This is
done in line with Russia’s increasing efforts to strengthen ties in
Africa and diversify their business. Not much is currently known
regarding the status of this project. India is also engaged with
talks to obtain uranium projects in the country.
An early indication of an uptick in activity in Namibia is the
increased import of Pyrolusite by Swakop Uranium. It is reported
that in November 2019, a third consignment of about 7 500
metric tons was delivered at the Port of Walvis Bay. Manganese
is used as a reducing agent during uranium production. The
expected rise in demand for uranium, places Namibia in a
prime position to become one of the worlds leading uranium
producers. The water challenges aside, Namibia remains one
of the best countries to do business with in Africa, and with its
good road and rail infrastructure, and a world class port, most
mining companies that have operated there before, rate it as
one of the best mining destinations in the world.
African Mining
African Mining March 2020
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