- Friday, 20 July 2012 15:26
- Published Date
- Staff Reporter
- Hits: 1821
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
- Billions lie idle at GIPF (2212 hits)HeadlinesBillions of dollars earmarked for investment in unlisted entities lay idle at the Government Insitutions Pension Fund, the Economist has established....New Strand Hotel in 2015 (1182 hits)HeadlinesConstruction of the new four-star Strand Hotel in Swakopmund is scheduled to start in July 2013, the Ohlthaver & List (O&L) Group has...Arandis back on the map (907 hits)HeadlinesA major investment conference in Arandis, scheduled for April, is fast gaining momentum. The Arandis Investment Conference which will be hosted...Chickens be patient (758 hits)HeadlinesNegotiations are well underway to finalise discussions on Infant Industry Protection by the Ministry of Trade and Industry for the broiler industry....Odyssey tests Rangers in remote Kaoko (1144 hits)HeadlinesA brawl of Ford Rangers roared into Windhoek on Thursday, back from an exhilarating and gruelling 12-day trip through the Kaokoveld. George van Zyl...Hatching fish in the Zambezi (88 hits)HeadlinesThe Honourable Minister of Fisheries and Marine Resources, Bernard Esau and the Spanish Ambassador to Namibia, H. E. Mrs. Carmen Diez at the...From midwinter to high summer in one week (1316 hits)HeadlinesFor two winters in a row, snow fell in the southern parts of Namibia but the occurrence showed a significant seasonal variance. Last year the snow...Horse mackerel minnow takes fight to giants (123 hits)HeadlinesEstablished in 2007, Yukor Propriety Limited is one of many horse mackerel joint venture companies haphazardly put together by the Ministry of...HeadlinesPrinting prices for web printing are likely to be impacted, due to the fact that, a second newspaper printer, WordPress Namibia, cut its teeth last...Better solution for payment systems risk (1112 hits)HeadlinesThe Namibia Clearing and Settlement System (NCSS), recently launched under the auspices of Namclear, was undertaken to reduce various payment system...
- Related Articles
- Bannerman builds capacity through training (1087 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 (832 hits)HeadlinesBannerman Resources this week reported that it is intent on commencing construction before the end of the year, of its heap leach demonstration...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 (220 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
- Ringing to Clover’s Success (39 hits)HeadlinesTiaan Bazuin NSX Chief Executive, Johann Vorster Clover Chief Executive, David Nuyoma Namibia Stock Exchange Chairman and Werner Buchner Clover...Road users to fork out 10% more (37 hits)HeadlinesState owned, Road Fund Administration earlier this week announced a 10% hike to all the Road User Charges with effect from 1 May, so that the fund...Clover allays industry fears (44 hits)HeadlinesClover Industries is keen to hit the ground running following its dual-listing on the Namibia Stock Exchange. Following its primary listing on the...Weather 24 April 2015 (22 hits)WeatherWhat Happened The broad synoptic stance is gradually morphing into an early winter pattern. The daily sunshine hours are now less than twelve hours...Editors DeskTrying to determine accurately a country’s gross domestic product is an arduous undertaking, even for developed economies where mountains of raw...