Uranium - Copperbelt Katanga Mining

GoviEx Advances Muntanga Uranium Project Financing in Zambia

February 22, 2025February 22, 2025 Constance

TSX-listed GoviEx Uranium has appointed Endeavour Financial as its financial adviser, marking the first step in securing project financing for its Muntanga uranium project in Zambia. Muntanga is a near-term uranium project with well-established export routes to both Western and Eastern markets. It has a net present value (NPV) of $243 million, an internal rate of return (IRR) of 20.8%, and a rapid payback period of 3.8 years. The project is highly leveraged to uranium prices, with its NPV increasing by $45 million for every $5/lb rise in triuranium octoxide… Read More Here

Mining in Zambia New Mining Projects Uranium

GoviEx Highlights Strong Economics and Low-Cost Potential for Muntanga Uranium Project in Zambia

January 26, 2025January 26, 2025 Constance

GoviEx Uranium, listed on the TSX-V, has announced robust feasibility study results for its Muntanga uranium project in Zambia. The study highlights the project’s low technical risk and confirms its potential as a shallow open-pit mine with a heap leaching operation. The feasibility study estimates an after-tax net present value (NPV) of $243 million, with an internal rate of return (IRR) of 20.8%, based on a triuranium octoxide (U3O8) price of $90 per pound. For every $5 increase in the U3O8 price, the NPV increases by $45 million. The project… Read More Here

International Uranium

Namibia Seeks Chinese Investment to Enhance Uranium Sector and Clean Energy Efforts

January 13, 2025January 13, 2025 Constance

Namibia, one of the world’s largest uranium producers, is actively seeking investment from China in nuclear power to strengthen its role in the global transition to clean energy. “We aim to add value to our uranium for the peaceful development of nuclear energy,” said President Nangolo Mbumba during a meeting on Monday with Chinese Foreign Minister Wang Yi, who is on a week-long tour of Africa. Yi’s visit underscores China’s efforts to expand its influence in Africa, aiming to outpace the United States by offering better trade deals, more investment… Read More Here

International Uranium

Orano Loses Control of Niger’s Somair Uranium Mine Amid Governance Issues

December 5, 2024December 5, 2024 Constance

Orano, a major player in the nuclear energy sector, has lost control of its Somair uranium mine in Niger due to governance issues and interference from Nigerien authorities. The French company, which owns over 60% of Somair, had already suspended production after Niger halted uranium exports last year. Niger, responsible for around 4% of global uranium production, has long been a key supplier to Orano. However, following a military coup in the country last year, the situation for international companies has become increasingly unstable. Orano cited the recent actions of… Read More Here

Mining in Zambia Uranium

GoviEx Uranium Completes Successful Metallurgical Testwork at Zambia’s Muntanga Project

October 18, 2024October 18, 2024 Constance

TSX-V-listed GoviEx Uranium has successfully completed an extensive metallurgical testwork program at Mintek in South Africa, aimed at demonstrating the viability of the heap leach process for its Muntanga project in Zambia. The testwork confirmed that uranium recoveries of 90% or higher were achieved from the main deposits, Muntanga and Dibbwi East, which represent 80% of the measured and indicated resources. Additionally, it showed short recovery times within 20 days, low acid consumption, and fast kinetic rates, supporting the feasibility of small on-off leach pads for the project. The program… Read More Here

International Mergers & Acquisitions Uranium

Askari Metals Completes Full Acquisition of Eyasi Uranium Project in Tanzania

October 9, 2024October 9, 2024 Constance

Askari Metals has announced the full acquisition of the Eyasi Uranium Project in northern Tanzania through its subsidiary, Infinum Uranium. The project was identified as a highly prospective target for surface uranium deposits following an extensive review of geological and geophysical data. The Eyasi Uranium Project spans 292 km² and is located approximately 320 km northwest of Dodoma. The project’s geology is dominated by the Precambrian Eastern Granulite Complex and is associated with the East African Rift system. The region’s geological features suggest the presence of uraniferous fluvial channel systems,… Read More Here

Uranium International

Star Minerals Partners with Madison Metals on Namibia Uranium Project Near Rossing Mine

September 19, 2024September 19, 2024 Constance

Australia-listed Star Minerals has partnered with Canada-listed Madison Metals to advance a uranium project in Namibia’s Erongo region, close to the renowned Rossing uranium mine. Under the agreement, Star will invest $2.425 million over three years for exploration on the Cobra project, alongside making staged payments to Madison Metals. “We’re excited to add this significant foreign uranium estimate to our portfolio and collaborate with Madison to verify and enhance the resource while exploring the promising potential in the region,” said Star Minerals Chairperson Ian Stuart. He highlighted the company’s expertise… Read More Here

International Uranium

Lotus Resources Confirms Viability of Letlhakane Uranium Project in Botswana

September 19, 2024September 19, 2024 Constance

ASX-listed Lotus Resources has completed a scoping study for the Letlhakane uranium project in Botswana, confirming its commercial viability with the potential to produce 3 million pounds of uranium per year and extend the project’s operational lifespan. The base case for the open-pit mine projects a total production of 42.3 million pounds of uranium oxide over 15 years at a cash cost of $42/lb. Lotus CEO Greg Bittar stated that optimization efforts could reduce costs to $36/lb. Bittar also highlighted the “blue sky” potential at Letlhakane, noting that at a… Read More Here

Mining in Zambia Exploration Uranium

GoviEx to acquire 51% interest in Zambia exploration license

September 9, 2024September 9, 2024 Constance

TSX- and OTCQX-listed GoviEx Uranium has obtained an option to acquire a 51% interest in the Lundazi exploration licence from Stalwart Investments. This move is a key part of GoviEx’s strategy to expand its footprint in Zambia’s uranium sector. The Lundazi licence spans 817.9 km², an area notable for the Karoo Supergroup formations, which are known to host significant sandstone-based uranium deposits. This geological setting makes the Lundazi region a promising site for uranium exploration. The geology in Lundazi closely mirrors that of GoviEx’s ongoing Muntanga project, also located in… Read More Here

International Gold Mergers & Acquisitions Uranium

Neo Energy Metals Expands Uranium and Gold Portfolio with Beisa Mine Acquisition

August 15, 2024August 15, 2024 Constance

Neo Uranium Resources Beisa Mine (NURB), a subsidiary of South Africa- and London-listed Neo Energy Metals (NEO), has signed a binding agreement to acquire the Beisa North and Beisa South uranium and gold projects in the Witwatersrand Basin, Gauteng, from Sunshine Mineral Reserve. The Beisa North and South projects contain resources of 90.24 million pounds of triuranium octoxide (U3O8) and 4.17 million ounces of gold. These projects are located immediately north and south of the former high-grade Beisa uranium mine and are adjacent to the existing multimillion-ounce gold mining operations… Read More Here