Tuesday, Sep 30th

Last updateFri, 26 Sep 2014 9am

You are here: Home

Articles

Bannerman readies for mining licence

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
Headlines
Expressing her joy over the recent gazetting of the credit bureau regulations, Minister of Finance, Hon. Saara Kuugongelwa-Amadhila is of the opinion...
Headlines
Nyasha Francis Nyaungwa of the Economist (front row, far right) was the first reporter from Namibia to attend the Sanlam Summer School for Financial...
Headlines
Mineral beneficiation not possible if Nampower cannot guarantee power supply The proposed export levy on unprocessed minerals is under attack...
Headlines
The Omkhaibasen Farmers Cooperative which serves the Spitzkoppe, Tubusis and ≠Goabeb areas near Usakos, held another successful information and...
Headlines
Reports that the governments of Zimbabwe, Botswana, Zambia, Namibia and Angola agreed to sell rhino horn powder in clinics and pharmacies are...
Headlines
South African retail giant Massmart has announced the opening of  a new groceries store under the name Game Foodco. The new groceries shop,...
Headlines
Bank Windhoek Holdings Limited is set to float 25% of its shares on the Namibian Stock Exchange (NSX) on 20 June, The Economist has established. A...
Headlines
The United Nations Information Centre (UNIC) in Namibia held its first Mock Model United Nations Conference on Tuesday which saw learners simulating...
Headlines
The Department of Customs and Excise in the Ministry of Finance has announced the enforcement of regulations concerning the importation and...
Headlines
The Law Society of Namibia joins the regional and international voices condemning the violations of human rights and the rule of law by the...
Related Articles
Community and Culture
The 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 & Energy
Bannerman has recently announced that Resource Capital Fund VI L.P. (RCFIV) agreed to provide an A$4 million convertable note facility to support the...
Headlines
Bannerman Resources this week reported that it is intent on commencing construction before the end of the year, of its heap leach demonstration...
Mining & Energy
Bannerman Resources Limited recently awarded a number of contracts for the construction of its demonstration plant. Amongst the companies are Gecko...
Latest Articles
General News
A new avenue of financing has become available for young entrepreneurs in need of seed and working capital. Bank Windhoek announced earlier this...
Headlines
A woman does not need to stay a secretary for her whole career, but a Permanent Secretary is a horse of a very refined breed. The new Jaguar XF as an...
Headlines
This year the Windhoek Industrial and Agricultural show will hit the 60 year mark since inception and according to Harald Schmidt, Executive Vice...
Headlines
Aus-Luderitz railway link nearing completion Construction of the much anticipated Aus-Luderitz railway line is expected to be concluded by the end...
Editors Desk
It comes as a shock to learn that 40% of all new-borns are unintended. This comes from a study by the Guttmacher Institute covered in more detail in...