- Friday, 20 July 2012 15:26
- Published Date
- Staff Reporter
- Hits: 1899
Bannerman Resources, developer of one of the world’s top ten uranium projects, announced this week that it is ready to apply for a mining licence after getting environmental approval from the Ministry of Environment and Tourism for its Etango Uranium Project located in the Erongo region.
The latest approval for the emerging uranium development company follows completion of the Etango Project Definitive Feasibility Study in April and lodgement of the Environmental and Social Impact Assessment and associated Environmental Management Plan.
CEO Len Jubber said the environmental approval is a necessary step in obtaining a mining licence for the Etango Project. He, however, could not give a definite time frame in which the mining licence application will be made.
He said: “Receipt of the environmental approval is a key milestone for the Etango Uranium Project and reflects over three years of specialist environmental and social impact studies, as well as an extensive public consultation process.
“We recognise and accept the responsibility associated with being granted an environmental approval and commit to continuing our activities in a manner which respects the environment and local communities. Receipt of the environmental approval takes us one step closer to the substantial stakeholder benefits which will stem from development of this globally significant uranium project.”
Bannerman owns 80% of the project which will become the third largest uranium mine in the country after Rössing and Langer Heinrich, while state-owned mining company, Epangelo recently signed an agreement to acquire a 5% stake in the project that has a mine life of at least 16 years.
Epangelo has an option to acquire another 5% shareholding. Etango has the potential to produce between seven million and nine million pounds a year of U3O8 uranium for the first five years, and then between six million and eight million pounds annually according to the project’s Definitive Feasibility Study.
In addition to the mining licence application and the finalisation of the Epangelo transaction, Bannerman says it will step up engagement with potential development partners of the US$870 million project before the end of this year.
- Articles In This Category
- Changing attitudes one dance at a time (146 hits)HeadlinesThe Goethe Centre was host this week to this delightful bunch when the dance troupe of the Ombetja Yehinga Organisation (OYO) announced their...Everybody say “Goat’s Cheese” (833 hits)HeadlinesThe Cheetah Conservation Fund recently opened the Dancing Goat Creamery at their International Research and Education Centre outside Otjiwarongo....Social Security grows benefit pay-outs (1380 hits)HeadlinesThe Social Security Commission (SSC) last week announced its operating results for the first four months of its 2013/2014 financial year that started...Container project benefits businesses (307 hits)HeadlinesThe Ministry of Information Communication Technology is encouraging partnerships between the government, the private sector and community members for...Meatco bemoans closure of Katima Mulilo plant (1800 hits)HeadlinesThe outbreak of Foot and Mouth Disease in the Caprivi region in November last year which resulted in the unscheduled closure of the Katima Mulilo...Khomas twins Jiangsu (416 hits)HeadlinesThe Khomas Regional Council and the Jiangsu Province in China last week signed an official agreement in Windhoek to establish a friendly...MANWU scowls at Chinese employers (1277 hits)HeadlinesThe Metal and Allied Namibian Workers Union have declared the Chinese employers in the construction industry as the worst employers in the country...Sandpiper developers bullish despite outcry (1105 hits)HeadlinesDevelopers of the N$3.1 billion Sandpiper Marine Phosphate Project say they are confident of receiving an environmental clearance for the...MVA Fund targets solvency by 2017 (4377 hits)HeadlinesDeficit now only N$277 million The MVA Fund plans to become solvent by the year 2017 according to a new five-year strategic plan which becomes...GIPF increases funeral benefits (973 hits)HeadlinesThe Government Institutions Pension Fund (GIPF) has announced an increase in funeral benefits for members and dependants backdated to December 2012....
- Related Articles
- Bannerman builds capacity through training (1142 hits)Community and CultureThe Australian government recently donated a grant of N$226 392 to seven students from the Erongo region, at a ceremony marking the official handing...Mining & EnergyBannerman has recently announced that Resource Capital Fund VI L.P. (RCFIV) agreed to provide an A$4 million convertable note facility to support the...Bannerman completes design on demo plant (882 hits)HeadlinesBannerman Resources this week reported that it is intent on commencing construction before the end of the year, of its heap leach demonstration...Construction of Bannerman demo plant to commence (1182 hits)Mining & EnergyBannerman Resources Limited recently awarded a number of contracts for the construction of its demonstration plant. Amongst the companies are Gecko...Bannerman gambles on uranium spot price (291 hits)MarketsBannerman Resources is placing all its bets on an anticipated rise in the spot price of uranium to advance its Etango project. The Etango project...
- Latest Articles
- HeadlinesThe United States Embassy in Windhoek this week hosted a training session for Namibian magistrates from all fourteen regions under the banner...Businesswomen break bread together again (1138 hits)HeadlinesAt the regular Economist Businesswomen Club breakfast last Friday at Hotel Thule, guest speaker Agnesia (Mara) Booysen of Standard Bank explained the...Capital expenditure down 27% at Langer Heinrich (1111 hits)HeadlinesLanger Heinrich’s parent company, Australian uranium miner, Paladin, is set to cut capital expenditure up to 27% in the financial year 2015 with...Editors DeskThe proverbial chickens have come home to roost in South Africa. Not that it is any skin off my nose how the Seffricans grind themselves into the...MarketsLaunched without much fan fare in the early part of 2014, the Sanlam Namibia Tracker Fund has managed to take off albeit at a slow pace while...