GoviEx Files Draft ESIA for Muntanga Uranium Project in Zambia
TSX-listed GoviEx Uranium has submitted a draft Environmental and Social Impact Assessment (ESIA) to the Zambian Environmental Management Agency (ZEMA) for its Muntanga uranium project, marking a major milestone as the project advances from feasibility toward development.
ZEMA will now review the draft ESIA and provide feedback and recommendations. GoviEx plans to incorporate this guidance into the final ESIA, which it expects to resubmit for approval in the second half of 2025.
This submission follows the recent completion of a positive feasibility study that confirmed Muntanga as a robust, shallow open-pit heap leach operation.
The project is expected to have a 12-year mine life, low operating costs, and strong financial metrics—including an after-tax net present value of $243 million and an internal rate of return of 20.8%.
“The momentum behind the Muntanga project continues to build. With today’s draft ESIA submission, we are taking another significant step toward making Muntanga a reality,” said GoviEx CEO Daniel Major.
“This progress reflects our commitment to developing one of the few near-term uranium projects capable of supporting global demand, while upholding high environmental and social standards.”
Major added that GoviEx is also making steady progress on the financing front, with early-stage interest indicating strong confidence in the project’s potential.
Muntanga is strategically located to serve both Western and non-Western nuclear markets, supported by Zambia’s favorable infrastructure, mining-friendly government, access to export routes, and a local surplus of sulphuric acid—an essential reagent for uranium processing.
With construction expected to proceed rapidly, GoviEx anticipates uranium production to begin within four months of mine development. The company is targeting initial production by 2028 and is currently in discussions with potential offtake partners.
