August 14. (MiningNamibia)-Anglo American's Skorpion Zinc mine has appointed Dave Bentley as the new general manager.
Bentley replaces Gerald Boting who has been appointed as project manager for the recently approved pre-feasibility study of the Gamsberg zinc project in South Africa, effective 1 September.
Boting served as the general manager since its commissioning in 2002, and has done remarkable work over the past six and a half years in building a world class operation and team. Under Boting's leadership, Skorpion Zinc received the Anglo American Chief Executive Officer’s Safety Award in 2007 as well as achieving design throughput capacity at the operation in that same year.
Bentley has been instrumental in establishing the discipline of continuous improvement within the zinc division.
John MacKenzie, CEO Zinc, commented, “I would like to thank Gerald for his enormous contribution and dedication to Skorpion Zinc and to the Rosh Pinah community, and to wish him well in this new exciting and challenging opportunity. I would also like to welcome Dave Bentley and look forward to working with him in the future.”
Thursday, August 14, 2008
New general manager for Skorpion Zinc Mine
New general manager for Skorpion Zinc Mine
August 14. (MiningNamibia)-Anglo American's Skorpion Zinc mine has appointed Dave Bentley as the new general manager.
Bentley replaces Gerald Boting who has been appointed as project manager for the recently approved pre-feasibility study of the Gamsberg zinc project in South Africa, effective 1 September.
Boting served as the general manager since its commissioning in 2002, and has done remarkable work over the past six and a half years in building a world class operation and team. Under Boting's leadership, Skorpion Zinc received the Anglo American Chief Executive Officer’s Safety Award in 2007 as well as achieving design throughput capacity at the operation in that same year.
Bentley has been instrumental in establishing the discipline of continuous improvement within the zinc division.
John MacKenzie, CEO Zinc, commented, “I would like to thank Gerald for his enormous contribution and dedication to Skorpion Zinc and to the Rosh Pinah community, and to wish him well in this new exciting and challenging opportunity. I would also like to welcome Dave Bentley and look forward to working with him in the future.”
August 14. (MiningNamibia)-Anglo American's Skorpion Zinc mine has appointed Dave Bentley as the new general manager.
Bentley replaces Gerald Boting who has been appointed as project manager for the recently approved pre-feasibility study of the Gamsberg zinc project in South Africa, effective 1 September.
Boting served as the general manager since its commissioning in 2002, and has done remarkable work over the past six and a half years in building a world class operation and team. Under Boting's leadership, Skorpion Zinc received the Anglo American Chief Executive Officer’s Safety Award in 2007 as well as achieving design throughput capacity at the operation in that same year.
Bentley has been instrumental in establishing the discipline of continuous improvement within the zinc division.
John MacKenzie, CEO Zinc, commented, “I would like to thank Gerald for his enormous contribution and dedication to Skorpion Zinc and to the Rosh Pinah community, and to wish him well in this new exciting and challenging opportunity. I would also like to welcome Dave Bentley and look forward to working with him in the future.”
Thursday, August 7, 2008
Energulf completes drilling operations on Kunene
August 7. (MiningNamibia)-EnerGulf today that drilling and logging operations on the Kunene #1 have been completed. The well had significant hydrocarbon shows. EnerGulf believes the results of
the operations to date have enhanced the prospectivity of Block 1711 by demonstrating that hydrocarbons are present. The company said it believes that the Namibe Basin south of Angola, will probably not be a commercial producer. However, Sintezneftegaz Nambia Ltd, which is a partner of the project has determined to test the well for natural gas in a particular zone.
The test is estimated to take an additional 16 days. EnerGulf has elected not to participate in this operation. EnerGulf believes the Kunene well information will allow EnerGulf to evaluate existing prospects and identify new leads and prospects on the block.
Although, EnerGulf has elected not to participate in the testing of the well, per the Joint
Operating Agreement, EnerGulf may elect to pay 100% of its share of the test’s costs it would have incurred had it participated, and an additional sum of the same amount, to reinstate its pro rata rights in a commercial discovery in the interval being tested.
the operations to date have enhanced the prospectivity of Block 1711 by demonstrating that hydrocarbons are present. The company said it believes that the Namibe Basin south of Angola, will probably not be a commercial producer. However, Sintezneftegaz Nambia Ltd, which is a partner of the project has determined to test the well for natural gas in a particular zone.
The test is estimated to take an additional 16 days. EnerGulf has elected not to participate in this operation. EnerGulf believes the Kunene well information will allow EnerGulf to evaluate existing prospects and identify new leads and prospects on the block.
Although, EnerGulf has elected not to participate in the testing of the well, per the Joint
Operating Agreement, EnerGulf may elect to pay 100% of its share of the test’s costs it would have incurred had it participated, and an additional sum of the same amount, to reinstate its pro rata rights in a commercial discovery in the interval being tested.
Namcor to built US$ 105 million fuel storage facility, Afrique en Ligne reports
August 7. (MiningNamibia)-Namibia's state-owned petroleum firm, Namcor, said that it had issued tenders for the construction of a US$ 105 million bulk fuel storage facilities at the coastal town of Walvis Bay, US$ 105 million, Afrique en Ligne reported today.
Construction of the fuel storage facilities, the first ever for the country, is expected to start in 2009, Namcor MD Sam Beukes said Wednesday. Namcor, which is wholly owned by the state, said it would fund the construction of the 118, 000 cubic metres storage facility through debt and equity but did not disclose more details on potential equity investors, Afrique en Ligne said.
State-owned Malaysia oil firm, Petronas is being touted as one of the potential strategic partners in Namcor's storage facilities project and petroleum refinery. “Construction tender is currently running and no appointment made yet. Construction is going to commence in the first half of 2009,” Beukes said. Namcor said the storage facility would become its trump card as it focuses on the down-stream of the petroleum market in Namibia, which also involves petroleum refinery. During the construction phase, the project will create about 1,500 jobs when it starts operation. “This facility will be the first in southern Africa to have vapor recovery systems in order to eliminate any vapours in the areas, Afrique en Ligne said.
It will be a huge chance to train Namibians in field, not just to operate, but also to maintain facilities of this magnitude,” Beukes said. Namibia, a net-oil importer, consumes about 70,000 tonnes of fuel monthly. The government has been bending over backwards to encourage oil exploration, especially along the Kunene Basin and the areas surrounding the massive Kudu gas fields.
Construction of the fuel storage facilities, the first ever for the country, is expected to start in 2009, Namcor MD Sam Beukes said Wednesday. Namcor, which is wholly owned by the state, said it would fund the construction of the 118, 000 cubic metres storage facility through debt and equity but did not disclose more details on potential equity investors, Afrique en Ligne said.
State-owned Malaysia oil firm, Petronas is being touted as one of the potential strategic partners in Namcor's storage facilities project and petroleum refinery. “Construction tender is currently running and no appointment made yet. Construction is going to commence in the first half of 2009,” Beukes said. Namcor said the storage facility would become its trump card as it focuses on the down-stream of the petroleum market in Namibia, which also involves petroleum refinery. During the construction phase, the project will create about 1,500 jobs when it starts operation. “This facility will be the first in southern Africa to have vapor recovery systems in order to eliminate any vapours in the areas, Afrique en Ligne said.
It will be a huge chance to train Namibians in field, not just to operate, but also to maintain facilities of this magnitude,” Beukes said. Namibia, a net-oil importer, consumes about 70,000 tonnes of fuel monthly. The government has been bending over backwards to encourage oil exploration, especially along the Kunene Basin and the areas surrounding the massive Kudu gas fields.
Forsys confirms deeper uranium mineralisation at Valencia
August 7. (MiningNamibia)-Forsys Metals Corp, which is listed in Namibia, Canada and Germany said this week that a diamond drill hole VAL-152 encountered uranium mineralisation to a depth of 499.7 m, 149 m below the proposed pit bottom at the company's wholly-owned Valencia Uranium project located in Namibia.
The deep diamond drill hole was recently completed in addition to the current infill percussion drilling program underway at Valencia, the company said.
Duane Parnham, President and CEO said: “We are further encouraged that this initial deep diamond drill hole confirms the presence of ore to a depth of 500 m, which is well below the previously defined Valencia ore body. It provides additional exploration potential to expand the pit depth later in mine development. It also opens the possibility to extend the mine plan at depth and complements our percussion drilling program which has been successful in expanding the pit shell boundary.”
The deep diamond drill hole was recently completed in addition to the current infill percussion drilling program underway at Valencia, the company said.
Duane Parnham, President and CEO said: “We are further encouraged that this initial deep diamond drill hole confirms the presence of ore to a depth of 500 m, which is well below the previously defined Valencia ore body. It provides additional exploration potential to expand the pit depth later in mine development. It also opens the possibility to extend the mine plan at depth and complements our percussion drilling program which has been successful in expanding the pit shell boundary.”
Wednesday, August 6, 2008
DRC's copper exporting Katanga wants to export through Namibia's Walvis Bay
August 6. (MiningNamibia)-The Governor of the Katanga Region in DRC, Moise Katumbi (above), held discussions last week with executives of the Walvis Bay Corridor Group (WBCG).
Katumbi was accompanied by the Ministers of Transport and Infrastructure of the Katanga Region , the Group said.
The benefits of the Port of Walvis Bay and the linkage of the route via Zambia into Lubumbashi, DRC were explained to the governor. The governor in turn expressed the importance of Walvis Bay as an alternative route for the Katanga Region in DRC, the Group said in a statement.
Katumbi's visit resulted from a visit of the WBCG delegation to Lubumbashi in the Katanga Region of the Democratic Republic of the Congo in September last year where business along the Walvis Bay- Ndola-Lubumbashi Corridor has been growing significantly. During this meeting Katumbi was invited to visit Walvis Bay and observe the transport opportunities and infrastructure in Namibia.
Katumbi was accompanied by the Ministers of Transport and Infrastructure of the Katanga Region , the Group said.
The benefits of the Port of Walvis Bay and the linkage of the route via Zambia into Lubumbashi, DRC were explained to the governor. The governor in turn expressed the importance of Walvis Bay as an alternative route for the Katanga Region in DRC, the Group said in a statement.
Katumbi's visit resulted from a visit of the WBCG delegation to Lubumbashi in the Katanga Region of the Democratic Republic of the Congo in September last year where business along the Walvis Bay- Ndola-Lubumbashi Corridor has been growing significantly. During this meeting Katumbi was invited to visit Walvis Bay and observe the transport opportunities and infrastructure in Namibia.
Bannerman Resources Increases Overall Resource Estimate at Namibian project by 48%
Bannerman Resources Increases Overall Resource Estimate by 48 percent
August 6. (MiningNamibia)-Bannerman Resources Ltd, an Australian-based uranium exploration and mine development company, has reported an significant increase in total mineral resources at the Goanikontes (see picture below) in the Erongo Region.
The company said the new mineral resource estimate now consists of 66.9 million pounds of Indicated Mineral Resource compared to 12.9 million pounds reported in January 2008 and 39.7 million pounds of Inferred Mineral Resources compared to 59.3 million pounds reported in January.
The new mineral resource estimates and models were completed by Neil Inwood of Coffey Mining Ltd, an independent consultant to Bannerman Resources.
“We are delighted with this upgrade to the Goanikontes resource which now exceeds the original exploration target of 100 million pounds and still offers considerable scope for further resource expansion over the coming year,” said Peter Batten, Managing Director of Bannerman Resources Ltd. “We are also pleased to see that there are very large amounts of metal present at the higher cut-offs. This indicates a strong potential for the project to sustain much higher head-grades over many years. This could have a significant impact upon production rates and the overall revenue generated by this first open pit.”
Production at the Goanikontes deposit is expected by 2011.
August 6. (MiningNamibia)-Bannerman Resources Ltd, an Australian-based uranium exploration and mine development company, has reported an significant increase in total mineral resources at the Goanikontes (see picture below) in the Erongo Region.
The company said the new mineral resource estimate now consists of 66.9 million pounds of Indicated Mineral Resource compared to 12.9 million pounds reported in January 2008 and 39.7 million pounds of Inferred Mineral Resources compared to 59.3 million pounds reported in January.
The new mineral resource estimates and models were completed by Neil Inwood of Coffey Mining Ltd, an independent consultant to Bannerman Resources.
“We are delighted with this upgrade to the Goanikontes resource which now exceeds the original exploration target of 100 million pounds and still offers considerable scope for further resource expansion over the coming year,” said Peter Batten, Managing Director of Bannerman Resources Ltd. “We are also pleased to see that there are very large amounts of metal present at the higher cut-offs. This indicates a strong potential for the project to sustain much higher head-grades over many years. This could have a significant impact upon production rates and the overall revenue generated by this first open pit.”
Production at the Goanikontes deposit is expected by 2011.
Saturday, August 2, 2008
Thursday, July 31, 2008
Rossing Uranium tells former workers to wait for new law before deciding on pension surplus
July 31. The Rossing Uranium Pension Fund has told workers who want a portion of its N$600 million pension fund surplus to wait for a new legislation expected to be passed this year before a final decision on the matter can be made.
Allan Moyce, Principal Officer at the Rössing Uranium Pension Fund said this week that as things stand at the moment, the fund was not able to meet the former workers demand.
Moyce said the Namibia Financial Institutions Supervisory Authority was currently drafting legislation on the distribution of surplus pension funds and added that the trustees of the fund have put on hold any discussions regarding the issue.
The employees say they are entitled to a share of the surplus because the current workers at Rössing have not contributed anything since 1992 while the surplus has been accumulating.
Namibia has no legislation on the administration of pension fund surpluses, though a draft bill is expected this year.
Allan Moyce, Principal Officer at the Rössing Uranium Pension Fund said this week that as things stand at the moment, the fund was not able to meet the former workers demand.
Moyce said the Namibia Financial Institutions Supervisory Authority was currently drafting legislation on the distribution of surplus pension funds and added that the trustees of the fund have put on hold any discussions regarding the issue.
The employees say they are entitled to a share of the surplus because the current workers at Rössing have not contributed anything since 1992 while the surplus has been accumulating.
Namibia has no legislation on the administration of pension fund surpluses, though a draft bill is expected this year.
New MD at Valencia
New MD at Valencia
July 31. Forsys Metals Corp has appointed Jimmie Wilde as general manager of Valencia Uranium (Pty) the local wholly-owned subsidiary of Forsys. Wilde will be based in Namibia and will be responsible for overseeing all aspects of the development of the Valencia Uranium Mine, Forsys said in a statement. This appointment is effective1 August.
Forsys said it remains committed to achieving project completion early in 2010 and becoming a substantial uranium producer.
July 31. Forsys Metals Corp has appointed Jimmie Wilde as general manager of Valencia Uranium (Pty) the local wholly-owned subsidiary of Forsys. Wilde will be based in Namibia and will be responsible for overseeing all aspects of the development of the Valencia Uranium Mine, Forsys said in a statement. This appointment is effective1 August.
Forsys said it remains committed to achieving project completion early in 2010 and becoming a substantial uranium producer.
Langer Heinrich production declines
Langer Heinrich production declines
July 31. Uranium production at Langer Heinrich for the quarter June was 568,670 pounds of uranium oxide, a 12% shortfall against the plant design production of 650,000 pounds of uranium oxide per quarter.
John Borshoff, managing director said the construction for Stage II expansion is underway and added that design of Stage III expansion ongoing.
July 31. Uranium production at Langer Heinrich for the quarter June was 568,670 pounds of uranium oxide, a 12% shortfall against the plant design production of 650,000 pounds of uranium oxide per quarter.
John Borshoff, managing director said the construction for Stage II expansion is underway and added that design of Stage III expansion ongoing.
Standard Bank opens branch in copper rich Katanga
July 31. The Standard Bank Group has expanded its operation in the Democratic Republic of Congo (DRC) with the opening of a full- service branch in the country’s “second city” of Lubumbashi, the mining centre of the Katanga region. The city has approximately 1.2 million people.
“The opening of the Lubumbashi branch is a natural extension to our operational coverage in the DRC, which had, until now, been restricted to Kinshasa where we have a head office and branch. The strategic positioning of Lubumbashi in the southeast of the country near the Zambian border, its status as a mining, commercial and industrial centre, served by the Luano International Airport and also a major railway junction, make it a desirable representation and growth area for Standard Bank,” said Louis Nallet, MD, Standard Bank DRC.
It is staffed by 16 bi-lingual staff who speak both French and English. In the expansion of services the installation of an ATM is also next on the development agenda.
Nallet said the opening of the branch was a massive undertaking that presented major logistical challenges. The majority of construction materials were manufactured in Johannesburg and transported by road through Botswana and Zambia before reaching the DRC.
“The opening of the Lubumbashi branch is a natural extension to our operational coverage in the DRC, which had, until now, been restricted to Kinshasa where we have a head office and branch. The strategic positioning of Lubumbashi in the southeast of the country near the Zambian border, its status as a mining, commercial and industrial centre, served by the Luano International Airport and also a major railway junction, make it a desirable representation and growth area for Standard Bank,” said Louis Nallet, MD, Standard Bank DRC.
It is staffed by 16 bi-lingual staff who speak both French and English. In the expansion of services the installation of an ATM is also next on the development agenda.
Nallet said the opening of the branch was a massive undertaking that presented major logistical challenges. The majority of construction materials were manufactured in Johannesburg and transported by road through Botswana and Zambia before reaching the DRC.
Friday, April 18, 2008
Namdeb profits drop in 2007
April 18 (miningnamibia)-The net profit for Namibia's diamond company, Namdeb declined to N$143 million last year from N$305 million in 2006, the company said in financial results for the year ended 31 December 2007 released in Windhoek today.
“Production costs came under pressure during 2007 due to higher than anticipated fuel prices and salary increases granted as well as additional maintenance work required on the sea wall due to adverse weather conditions,” the company said. Namdeb said profit before tax decreased to N$776 million from N$1.2 billion in 2006 mainly due to the reduction in revenue and increased production costs, Namdeb said.
Diamond sales revenue at N$4.56 billion is 15 percent lower than in 2006 as a result of the reduction in carats sold, combined with the effect of the price correction in the rough diamond market in the second half of 2006, the company said.
“Production exceeded 2 million carats for the second year in a row at a 4 percent improvement on 2006 but as a result of production schedules carat sales were 5 percent below those of 2006,” the company said.
“Production costs came under pressure during 2007 due to higher than anticipated fuel prices and salary increases granted as well as additional maintenance work required on the sea wall due to adverse weather conditions,” the company said. Namdeb said profit before tax decreased to N$776 million from N$1.2 billion in 2006 mainly due to the reduction in revenue and increased production costs, Namdeb said.
Diamond sales revenue at N$4.56 billion is 15 percent lower than in 2006 as a result of the reduction in carats sold, combined with the effect of the price correction in the rough diamond market in the second half of 2006, the company said.
“Production exceeded 2 million carats for the second year in a row at a 4 percent improvement on 2006 but as a result of production schedules carat sales were 5 percent below those of 2006,” the company said.
Trans Hex may pull out of Namibia
April 18 (miningnamibia)-Trans Hex, the marine diamond company is condidering pulling of Namibia, the company has said.
Trans Hex said its operations in Namibia comprising the group's two deep water mining vessels, continue to make losses and various options for exiting this business are being actively considered, the company said.
Trans Hex said its operations in Namibia comprising the group's two deep water mining vessels, continue to make losses and various options for exiting this business are being actively considered, the company said.
India looks at Namibia for uranium supply, UPI says
India said it is exploring the option of sourcing uranium from countries such as Namibia that are not members of the Nuclear Suppliers Group, UPI reported.
The government initiated talks with authorities from Namibia and Niger for a long-term relationship in uranium supply. A senior official of the Department of Atomic Energy said India's request has been conveyed to Namibian Prime Minister Nahas Angula.
India is restricted from sourcing uranium from the 45-member NSG, which controls global nuclear commerce, as it is not party to the nuclear nonproliferation treaty, The Business Line newspaper reported
Namibia, Niger and Uzbekistan are among the non-NSG countries that produce sizable amounts of uranium. The official said India could face trouble as both countries are signatories to the African Nuclear Weapon Free Zone Treaty, which aims to establish a nuclear-free zone in Africa.
The Indo-U.S. civilian nuclear deal, which has run into trouble in India because of opposition from the government's left-party allies, seeks to provide a special exemption to India from the NSG precondition.
The government initiated talks with authorities from Namibia and Niger for a long-term relationship in uranium supply. A senior official of the Department of Atomic Energy said India's request has been conveyed to Namibian Prime Minister Nahas Angula.
India is restricted from sourcing uranium from the 45-member NSG, which controls global nuclear commerce, as it is not party to the nuclear nonproliferation treaty, The Business Line newspaper reported
Namibia, Niger and Uzbekistan are among the non-NSG countries that produce sizable amounts of uranium. The official said India could face trouble as both countries are signatories to the African Nuclear Weapon Free Zone Treaty, which aims to establish a nuclear-free zone in Africa.
The Indo-U.S. civilian nuclear deal, which has run into trouble in India because of opposition from the government's left-party allies, seeks to provide a special exemption to India from the NSG precondition.
Wednesday, April 9, 2008
Uranium mine's water plans under attack, The Namibian reports
(The Namibian)-A DECISION by the Ministry of Agriculture, Water and Forestry to allow a planned new uranium mine in an arid area southwest of Usakos to use large quantities of underground water is being challenged in the High Court.
The case questioning the Ministry's decision to grant water abstraction permits to Valencia Uranium was filed with the High Court on Thursday.
Valencia Uranium plans to start a mine at farm Valencia some 55 kilometres southwest of Usakos.
The mine would be one of several new uranium mines being established in the Erongo Region.
As far as could be established yesterday, the case is the first of its kind in Namibia in which a land owner in an area close to such a planned mine is questioning the way in which scarce natural resources are intended to be used by such a new mine.
It has been filed against the company, the Minister of Agriculture, Water and Forestry, the Minister of Mines and Energy, the Minister of Environment and Tourism, Government and the owner of farm Valencia.
Roger Laine, Chief Geologist of Valencia Uranium and a Director of the company's Canadian mother company, Forsys Metals Corp, refused to tell The Namibian yesterday whether the company intends opposing the application.
The case was with the company's lawyers, he said, while also refusing to say who the lawyers are.
It is however understood that the case is being opposed, and is set to be heard in the High Court tomorrow.
The case was filed by Namib Plains Farming and Tourism CC, a close corporation that is the owner of farm Namib Plains, which is a portion of farm Namib Plaas and is situated about five kilometres from Valencia.
The CC wants the court to order that Valencia Uranium may not extract groundwater from the area for which it has been given water abstraction permits, and that these permits be reviewed and set aside.
In a sworn statement filed with the court, one of the members of the CC, Marieta Engelbrecht, states that their farm is situated in a "totally undisturbed" natural habitat where wildlife and bird species are dependent on natural underground water, which is either pumped to the surface through boreholes or have formed fountains.
Farm Namib Plains borders the Khan River, and part of an ancient underground water reservoir, referred to as a "palaeo channel", lies underneath it, Engelbrecht states.
She states that four permits issued to Valencia Uranium by the Ministry of Agriculture, Water and Forestry on February 12 this year entitles the company to drill boreholes and extract water on farm Namib Plains and other privately owned farms which are situated in the Khan River and above the palaeo channel.
These permits however were issued without the owners of Namib Plains and other affected landowners from the area being able to give input to the Ministry before the decision was taken.
It was also done without any proper studies being done to first determine what effect the extraction of underground water would have on water tables in the area, Engelbrecht claims.
She states that the permits granted to Valencia Uranium would allow the company to draw up to 1 000 cubic metres of water a day - that is, a million litres of water a day - from the Khan River and the palaeo channel.
This will, or at best for the company and Government and the Ministers being sued, may have "an irreversible damaging effect on the environment", according to Engelbrecht.
"The water table will, or at best may, drop significantly, consequently the trees are bound to die, applicant's existing two boreholes will dry up, and fountains (of which applicant has two) may dry up causing wild animals to die," she states.
She adds that before Valencia Uranium draws any water from the palaeo channel, verifiable empirical data is required.
"Currently, such data is not available.
Prior to that, no meaningful decision could have been made by (the Minister of Agriculture, Water and Forestry)," she states.
Engelbrecht charges that the owners of Namib Plains were given "a distorted, if not deliberately false picture" of Valencia Uranium's intentions on the use of underground water.
In April last year, company representatives first gave assurances that a desalination plant would be built at the coast to produce water for the mine's use and that the mine would not extract underground water for any purpose, she says.
By the first week of December, another representative of the company said that the mine would use 300 cubic metres of groundwater a day during the construction of the mine and the first part of its mining phase, she adds.
By February 12, another company representative informed interested parties that the company had applied for permits to extract up to 500 cubic metres of groundwater a day.
That was the same date that the permits allowing the company to extract up to 1 000 cubic metres of groundwater a day were issued.
According to Engelbrecht, one of these permits allows the company to drill boreholes over the palaeo channel.
The same permit also states that "only once it is conclusively found that groundwater abstraction from this palaeo channel of the Khan River is feasible and sustainable, without any adverse effects to downstream users, may a separate application for groundwater abstraction be submitted for consideration by the Ministry".
A permit allowing the company to draw and use water from these same boreholes covered by that permit was however issued on the same date, Engelbrecht states.
These two permits, she charges, "make a mockery of logic.
It is well known that it has not been shown that no adverse effect will occur to downstream users as a result of boreholes to be drilled in the palaeo channel."
Valencia Uranium has done an environmental impact assessment (EIA) on the effect its planned mine would have on the environment around it.
In a chapter on the geohydrology of the area at and around Valencia, some words of caution are first sounded about the lack of knowledge about the underground water reservoir, in the report referred to as a "paleochannel aquifer", in that area: "The sustainable yield of this paleochannel aquifer is unknown, as no data or calculations with regard to this aquifer could be located.
Overall, very little is known regarding this aquifer and further investigations would be required to evaluate this aquifer's potential."
In the same chapter of the EIA a recommendation is made that this aquifer should be investigated further as a possible groundwater source.
In the application filed by the farm owners, an affidavit by a groundwater expert, geohydrologist Otto Jansen van Vuuren, is also included.
Van Vuuren explains that a "palaeo channel" is, simply put, "a buried stream channel".
He also states: "They are environmental treasures and should be treated with the utmost caution."
He adds that there is "virtually no empirical data available in Namibia in relation to the palaeo channel in the vicinity of the Valencia mine".
Without empirical data being available, he states, extracting water from this aquifer would be contrary to the Constitution's Article 95, which requires the State to adopt policies aimed at the maintenance of ecosystems, biological diversity and the utilisation of natural resources on a sustainable basis for the benefit of all Namibians.
"This principle is called, in environmental terms, the precautionary principle," according to Van Vuuren.
"Without the empirical data available no decision may or should be made."
The case questioning the Ministry's decision to grant water abstraction permits to Valencia Uranium was filed with the High Court on Thursday.
Valencia Uranium plans to start a mine at farm Valencia some 55 kilometres southwest of Usakos.
The mine would be one of several new uranium mines being established in the Erongo Region.
As far as could be established yesterday, the case is the first of its kind in Namibia in which a land owner in an area close to such a planned mine is questioning the way in which scarce natural resources are intended to be used by such a new mine.
It has been filed against the company, the Minister of Agriculture, Water and Forestry, the Minister of Mines and Energy, the Minister of Environment and Tourism, Government and the owner of farm Valencia.
Roger Laine, Chief Geologist of Valencia Uranium and a Director of the company's Canadian mother company, Forsys Metals Corp, refused to tell The Namibian yesterday whether the company intends opposing the application.
The case was with the company's lawyers, he said, while also refusing to say who the lawyers are.
It is however understood that the case is being opposed, and is set to be heard in the High Court tomorrow.
The case was filed by Namib Plains Farming and Tourism CC, a close corporation that is the owner of farm Namib Plains, which is a portion of farm Namib Plaas and is situated about five kilometres from Valencia.
The CC wants the court to order that Valencia Uranium may not extract groundwater from the area for which it has been given water abstraction permits, and that these permits be reviewed and set aside.
In a sworn statement filed with the court, one of the members of the CC, Marieta Engelbrecht, states that their farm is situated in a "totally undisturbed" natural habitat where wildlife and bird species are dependent on natural underground water, which is either pumped to the surface through boreholes or have formed fountains.
Farm Namib Plains borders the Khan River, and part of an ancient underground water reservoir, referred to as a "palaeo channel", lies underneath it, Engelbrecht states.
She states that four permits issued to Valencia Uranium by the Ministry of Agriculture, Water and Forestry on February 12 this year entitles the company to drill boreholes and extract water on farm Namib Plains and other privately owned farms which are situated in the Khan River and above the palaeo channel.
These permits however were issued without the owners of Namib Plains and other affected landowners from the area being able to give input to the Ministry before the decision was taken.
It was also done without any proper studies being done to first determine what effect the extraction of underground water would have on water tables in the area, Engelbrecht claims.
She states that the permits granted to Valencia Uranium would allow the company to draw up to 1 000 cubic metres of water a day - that is, a million litres of water a day - from the Khan River and the palaeo channel.
This will, or at best for the company and Government and the Ministers being sued, may have "an irreversible damaging effect on the environment", according to Engelbrecht.
"The water table will, or at best may, drop significantly, consequently the trees are bound to die, applicant's existing two boreholes will dry up, and fountains (of which applicant has two) may dry up causing wild animals to die," she states.
She adds that before Valencia Uranium draws any water from the palaeo channel, verifiable empirical data is required.
"Currently, such data is not available.
Prior to that, no meaningful decision could have been made by (the Minister of Agriculture, Water and Forestry)," she states.
Engelbrecht charges that the owners of Namib Plains were given "a distorted, if not deliberately false picture" of Valencia Uranium's intentions on the use of underground water.
In April last year, company representatives first gave assurances that a desalination plant would be built at the coast to produce water for the mine's use and that the mine would not extract underground water for any purpose, she says.
By the first week of December, another representative of the company said that the mine would use 300 cubic metres of groundwater a day during the construction of the mine and the first part of its mining phase, she adds.
By February 12, another company representative informed interested parties that the company had applied for permits to extract up to 500 cubic metres of groundwater a day.
That was the same date that the permits allowing the company to extract up to 1 000 cubic metres of groundwater a day were issued.
According to Engelbrecht, one of these permits allows the company to drill boreholes over the palaeo channel.
The same permit also states that "only once it is conclusively found that groundwater abstraction from this palaeo channel of the Khan River is feasible and sustainable, without any adverse effects to downstream users, may a separate application for groundwater abstraction be submitted for consideration by the Ministry".
A permit allowing the company to draw and use water from these same boreholes covered by that permit was however issued on the same date, Engelbrecht states.
These two permits, she charges, "make a mockery of logic.
It is well known that it has not been shown that no adverse effect will occur to downstream users as a result of boreholes to be drilled in the palaeo channel."
Valencia Uranium has done an environmental impact assessment (EIA) on the effect its planned mine would have on the environment around it.
In a chapter on the geohydrology of the area at and around Valencia, some words of caution are first sounded about the lack of knowledge about the underground water reservoir, in the report referred to as a "paleochannel aquifer", in that area: "The sustainable yield of this paleochannel aquifer is unknown, as no data or calculations with regard to this aquifer could be located.
Overall, very little is known regarding this aquifer and further investigations would be required to evaluate this aquifer's potential."
In the same chapter of the EIA a recommendation is made that this aquifer should be investigated further as a possible groundwater source.
In the application filed by the farm owners, an affidavit by a groundwater expert, geohydrologist Otto Jansen van Vuuren, is also included.
Van Vuuren explains that a "palaeo channel" is, simply put, "a buried stream channel".
He also states: "They are environmental treasures and should be treated with the utmost caution."
He adds that there is "virtually no empirical data available in Namibia in relation to the palaeo channel in the vicinity of the Valencia mine".
Without empirical data being available, he states, extracting water from this aquifer would be contrary to the Constitution's Article 95, which requires the State to adopt policies aimed at the maintenance of ecosystems, biological diversity and the utilisation of natural resources on a sustainable basis for the benefit of all Namibians.
"This principle is called, in environmental terms, the precautionary principle," according to Van Vuuren.
"Without the empirical data available no decision may or should be made."
Friday, April 4, 2008
Weatherly International records US$1.2 million loss
April 4-(miningnamibia)-Interim Financial results for Weatherly International plc for the six-month period to 31 December 2007 show that revenue from its operations during the year amounted to US$41.5 million. Weatherly recorded a net loss of US$1.2 million or US$0.29 per basic share during the period.
Weatherly is an AIM-listed resource company with copper mining and smelting operations in Namibia.
Rod Webster, its CEO, said despite the modest loss, he was satisfied with Weatherly's performance as it continues to build up its production capability.
“During the financial period production costs increased, largely due to underground development work at Otjihase, mine commissioning expenses in our Northern Operational Region (Namibia), and to a lesser extent increases in oil, coal and power costs. At Otjihase, time was spent backfilling the mined-out areas of a high-grade block known as Karuma. This will allow for the safe extraction of a number of remaining pillars over the next five years. The Tsumeb West mine was commissioned at the beginning of the half year and the nearby Tschudi mine was commissioned in October,” he said.
On the smelting side, Webster said the focus is on the two-stage expansion project, which has progressed well. Re-commissioning of the first stage, the “Ausmelt” furnace, is progressing on schedule.
He said this would increase the yearly smelting capacity to approximately 35,000 tonnes of copper blister. Stage two includes the commissioning of an oxygen plant in mid-2009 that will conservatively increase yearly production capacity to approximately 50000 tons, he said.
Weatherly is an AIM-listed resource company with copper mining and smelting operations in Namibia.
Rod Webster, its CEO, said despite the modest loss, he was satisfied with Weatherly's performance as it continues to build up its production capability.
“During the financial period production costs increased, largely due to underground development work at Otjihase, mine commissioning expenses in our Northern Operational Region (Namibia), and to a lesser extent increases in oil, coal and power costs. At Otjihase, time was spent backfilling the mined-out areas of a high-grade block known as Karuma. This will allow for the safe extraction of a number of remaining pillars over the next five years. The Tsumeb West mine was commissioned at the beginning of the half year and the nearby Tschudi mine was commissioned in October,” he said.
On the smelting side, Webster said the focus is on the two-stage expansion project, which has progressed well. Re-commissioning of the first stage, the “Ausmelt” furnace, is progressing on schedule.
He said this would increase the yearly smelting capacity to approximately 35,000 tonnes of copper blister. Stage two includes the commissioning of an oxygen plant in mid-2009 that will conservatively increase yearly production capacity to approximately 50000 tons, he said.
Canadian junior explorer signs eight-licence earn-in transaction in Namibia, Miningweekly reports
April 4 (miningweekly)-Toronto-based mineral explo- ration company Helio Resources has signed a binding letter of intent with South African junior mining company TransAfrican Minerals in connection with eight licences in Namibia, whereby TransAfrican has the option of earning up to a 70% interest in the licences by solely funding a bankable feasibility study.
The study will last two years. TransAfrican will manage, develop and operate the various projects. The licences that fall under the agreement are Tevrede North, Tevrede West, Tevrede South, Honib, Oasis, Huab, Borwa, and Fransfontein, all of which are located within the lower Proterozoic Age Kamanjab Inlier.
Work completed by Helio to date has identified copper, zinc, silver and gold drill targets at Tevrede North; copper and gold targets at Tevrede South; zinc and lead targets at Honib; and lead, zinc, copper and silver targets at Oasis.
TransAfrican deputy chairperson and president Mohamed Matongo says that TransAfrican sought out a number of junior mining companies with advanced projects in Namibia, and eventually signed with Helio owing to its advanced projects currently in operation in the region.
“Helio has already done extensive exploration in the region, and the first drilling results have been encouraging. Further, Helio also has a number of projects in other African countries, such as Tanzania, Malawi, Namibia and Mozambique,” he says.
Matongo adds that, by signing up with Helio, TransAfrican was assured of stability and predictability.
“Professional people run Helio. If they approach us with a project, we know that the dirty work has already been done, and we, therefore, pick up the project, knowing that reli- able people have already assisted the project thoroughly,” he notes.
“We are very bullish about the project. The area we have signed up, located north of Namibia, near the Angolan border, has already seen a lot of exploration, and initial results indicate that there are quality resources in the area.”
He says that, from the inception of TransAfrican, he has defined what makes a successful junior mining company according to three criteria, namely the team one employs, the size and quality of projects, and the location of projects. He says that he spent many months trying to find the right team that understands the industry and the ethos that his company is trying to ascribe to.
“The challenge was to find the right mining company. Luckily enough, Helio is a company that fitted our criteria. Further, Namibia has good infrastructure, and we, therefore, had a compelling case to invest there,” he says.
While TransAfrican’s main focus is pan-Africa, it is also open to projects outside the continent. The company has also latched on to projects in Australia, Indonesia and Mongolia, and has conducted a similar transaction to that with Helios, with Toronto-listed ICS Copper Systems.
The study will last two years. TransAfrican will manage, develop and operate the various projects. The licences that fall under the agreement are Tevrede North, Tevrede West, Tevrede South, Honib, Oasis, Huab, Borwa, and Fransfontein, all of which are located within the lower Proterozoic Age Kamanjab Inlier.
Work completed by Helio to date has identified copper, zinc, silver and gold drill targets at Tevrede North; copper and gold targets at Tevrede South; zinc and lead targets at Honib; and lead, zinc, copper and silver targets at Oasis.
TransAfrican deputy chairperson and president Mohamed Matongo says that TransAfrican sought out a number of junior mining companies with advanced projects in Namibia, and eventually signed with Helio owing to its advanced projects currently in operation in the region.
“Helio has already done extensive exploration in the region, and the first drilling results have been encouraging. Further, Helio also has a number of projects in other African countries, such as Tanzania, Malawi, Namibia and Mozambique,” he says.
Matongo adds that, by signing up with Helio, TransAfrican was assured of stability and predictability.
“Professional people run Helio. If they approach us with a project, we know that the dirty work has already been done, and we, therefore, pick up the project, knowing that reli- able people have already assisted the project thoroughly,” he notes.
“We are very bullish about the project. The area we have signed up, located north of Namibia, near the Angolan border, has already seen a lot of exploration, and initial results indicate that there are quality resources in the area.”
He says that, from the inception of TransAfrican, he has defined what makes a successful junior mining company according to three criteria, namely the team one employs, the size and quality of projects, and the location of projects. He says that he spent many months trying to find the right team that understands the industry and the ethos that his company is trying to ascribe to.
“The challenge was to find the right mining company. Luckily enough, Helio is a company that fitted our criteria. Further, Namibia has good infrastructure, and we, therefore, had a compelling case to invest there,” he says.
While TransAfrican’s main focus is pan-Africa, it is also open to projects outside the continent. The company has also latched on to projects in Australia, Indonesia and Mongolia, and has conducted a similar transaction to that with Helios, with Toronto-listed ICS Copper Systems.
Thursday, April 3, 2008
Second desalination plant for Namibia as uranium mining booms, Namibia Economist reports
April 4. (Namibia Economist)-The country’s arid Erongo Region, the focal point of Namibia’s uranium mining boom, is thirsty and by 2015 old and new uranium mines will require 53 million cubic meters of water per annum.
This development has led to water utility NamWater announcing plans for another desalination plant in the country’s desert coastal region. At present, Namibia consumes about 67 million cubic meters per annum. But with more or more uranium mines being planned for the Erongo Region, NamWater notes that the solution lies in desalinating seawater.
NamWater’s Chief Executive Officer, Vaino Shivute said this week that the second desalination plant should be commissioned at the beginning of 2010. It is expected to have a capacity of 25 million cubic meters per annum and will cost around N$1.5 billion.
Construction of the country’s first desalination plant, a joint venture between NamWater and French mega nuclear builder Areva’s subsidiary UraMin, is already underway. This plant is expected to be commissioned at the end of 2009 and will have a capacity to produce 20 million cubic meters of water per annum, most of which will cater for UraMin's Trekkopje uranium mine.
The mine is set for trial mining during the second quarter of this year.
“Due to pressure on groundwater sources, we were directed by the government to construct a desalination plant,” Shivute said.
Mining companies seeking to benefit will foot all capital and operational costs associated with the second plant, such as construction water distribution expenditures, either through capital payment upfront or via water tariffs, Shivute said.
He said the national water utility is including power demand for desalination and the uranium mines in its development plans.
“NamPower has indicated to NamWater that by the third quarter of next year, there will be enough power for the desalination plant,” he said.
NamWater envisages that the second plant will result in less water being abstracted from the Omdel and Kuiseb Aquifers. The coastal towns water demand will still be met by water from the two aquifers.
Shivute said that the water from the aquifers and the desalination plant would be blended to improve the quality of water in the coast. NamWater has already appointed desalination and financial consultants on the project.
Comments:miningnamibian@gmail.com
This development has led to water utility NamWater announcing plans for another desalination plant in the country’s desert coastal region. At present, Namibia consumes about 67 million cubic meters per annum. But with more or more uranium mines being planned for the Erongo Region, NamWater notes that the solution lies in desalinating seawater.
NamWater’s Chief Executive Officer, Vaino Shivute said this week that the second desalination plant should be commissioned at the beginning of 2010. It is expected to have a capacity of 25 million cubic meters per annum and will cost around N$1.5 billion.
Construction of the country’s first desalination plant, a joint venture between NamWater and French mega nuclear builder Areva’s subsidiary UraMin, is already underway. This plant is expected to be commissioned at the end of 2009 and will have a capacity to produce 20 million cubic meters of water per annum, most of which will cater for UraMin's Trekkopje uranium mine.
The mine is set for trial mining during the second quarter of this year.
“Due to pressure on groundwater sources, we were directed by the government to construct a desalination plant,” Shivute said.
Mining companies seeking to benefit will foot all capital and operational costs associated with the second plant, such as construction water distribution expenditures, either through capital payment upfront or via water tariffs, Shivute said.
He said the national water utility is including power demand for desalination and the uranium mines in its development plans.
“NamPower has indicated to NamWater that by the third quarter of next year, there will be enough power for the desalination plant,” he said.
NamWater envisages that the second plant will result in less water being abstracted from the Omdel and Kuiseb Aquifers. The coastal towns water demand will still be met by water from the two aquifers.
Shivute said that the water from the aquifers and the desalination plant would be blended to improve the quality of water in the coast. NamWater has already appointed desalination and financial consultants on the project.
Comments:miningnamibian@gmail.com
Wednesday, April 2, 2008
Bannerman Resources dual lists on Namibia Stock Exchange
April 2-(miningnamibia)-Bannerman Resources Ltd, which is listed on the Australian Stock Exchange and Toronto Stock Exchange on Wednesday dual listed on the Namibian Stock Exchange. The ceremony was attended by members of the business community and government officials.
Bannerman has become the fifth uranium company to list in Namibia after Deep Yellow, Forsys, Paladin Energy and Xempler.
Bannerman is an exploration and pre-feasibility stage mining company with interests in two properties in Namibia and a number of properties in Botswana and Australia.
Bannerman has become the fifth uranium company to list in Namibia after Deep Yellow, Forsys, Paladin Energy and Xempler.
Bannerman is an exploration and pre-feasibility stage mining company with interests in two properties in Namibia and a number of properties in Botswana and Australia.
Forsys Increases Ownership of Ondundu Gold Project in Namibia to 90%
April 2-(miningnamibia)-Forsys Metals Corp has announced that it has increased its ownership in the Ondundu gold project in Namibia to 90%.
Namibia's Ministry of Mines and Energy has renewed Omatjete Mining Company exclusive prospecting license through to 31 May 2009. The License encompasses an area of 19,969 hectares and incorporates Ondundu.
With the renewal of the license, Westport Resources Namibia a wholly-owned subsidiary of Forsys, has completed the purchase of Domino Resources (Pty) Ltd's entire equity interest in Omatjete, thereby increasing Forsys' beneficial ownership in Omatjete from 32% to 90%.
Ondundu lies within the Northern Zone of the Damara Belt that extends east from the Atlantic Ocean into northwestern Botswana.
Estimate, based on 26 diamond drill holes and the old workings, the Ondundu project contains an historical resource of approximately 4.5 million t at 3.387 g/t gold; equivalent to approximately 500,000 ounces.
“The increase of our interest to 90% in the Ondundu Gold project provides Forsys with a unique opportunity to control an advanced Namibian-based gold project” said Mr. Duane Parnham, President and CEO of Forsys.
He further stated that "Forsys will continue to focus its efforts on developing its wholly-owned Valencia Uranium Mine. Having worked in Namibia since 2000, we continue to maintain our country focus and continue to explore many opportunities to enhance shareholder value."
Namibia's Ministry of Mines and Energy has renewed Omatjete Mining Company exclusive prospecting license through to 31 May 2009. The License encompasses an area of 19,969 hectares and incorporates Ondundu.
With the renewal of the license, Westport Resources Namibia a wholly-owned subsidiary of Forsys, has completed the purchase of Domino Resources (Pty) Ltd's entire equity interest in Omatjete, thereby increasing Forsys' beneficial ownership in Omatjete from 32% to 90%.
Ondundu lies within the Northern Zone of the Damara Belt that extends east from the Atlantic Ocean into northwestern Botswana.
Estimate, based on 26 diamond drill holes and the old workings, the Ondundu project contains an historical resource of approximately 4.5 million t at 3.387 g/t gold; equivalent to approximately 500,000 ounces.
“The increase of our interest to 90% in the Ondundu Gold project provides Forsys with a unique opportunity to control an advanced Namibian-based gold project” said Mr. Duane Parnham, President and CEO of Forsys.
He further stated that "Forsys will continue to focus its efforts on developing its wholly-owned Valencia Uranium Mine. Having worked in Namibia since 2000, we continue to maintain our country focus and continue to explore many opportunities to enhance shareholder value."
Rössing Plans Major Growth, New Era says
(New Era)-Having rounded up its Social and Environmental Impact Assessments Report (SEIA), Rössing Uranium mine has moved a step closer to the achievement of its envisaged development targets as part of the mine’s life expansion project.
The report, which has now been submitted to the Ministry of Environment and Tourism (MET) for consideration, highlights the impact of the mine’s envisaged development on the fragile environment, amongst others.
Rössing aims to expand its operations to at least 2026, and has designed various projects to achieve this.
Phase 1 of the expansion project will see the establishment of a sulphuric acid plant, ore sorter and an SK4 pit. Rössing mine’s metallurgical process uses sulphuric acid leaching to extract the uranium from the ore. An onsite pyrite burning acid plant was in use until 1997, after which it was converted to burn sulphur imported through Walvis Bay and railed to the mine.
It was mothballed in 2000 when prices of imported acid became unfavourable against production costs.
Public concerns had been raised at the time, when sulphur spillage next to the railway line was found.
Current economic evaluations show that value may be gained by establishing a new sulphuric acid production plant at the mine, while continuing to import additional acid if required.
The existing on-site acid storage facilities will be upgraded and will be utilized to store the acid produced, while offloading and handling facilities at the mine will be installed or upgraded to deal with the envisaged developments.
For the ore sorter, a pre-screening plant and a production ore sorting plant comprising four screening units and two ore sorter clusters will become necessary, the report states.
While the entire Erongo Region stands to benefit from the Rössing mine’s expansion, the town of Arandis will derive most benefits from the exercise.
Arandis was established in 1976 to serve the needs of Rössing uranium mine through accommodation for its employees.
Until 1992, when the town was given to the Government as an independence gift, the town was wholly supported by the mine, and this support extended to health services, schooling, service provision, recreation and infrastructure maintenance.
In 1994, Arandis was proclaimed a fully-fledged town and the local authority struggled to deliver services with an inadequate budget, a lack of capacity and non-payment by residents.
The role that Rössing played in the support and functioning of Arandis in the past had built a strong dependence on the mine and the wave of retrenchments in the 1990s further impacted on the town. In effect, the town experienced two ‘quasi-closures’ and displayed some of the characteristics of communities impacted by closure, such as the erosion of the local authority’s revenue base, increased demands on local government as the number of indigents increased, the breakdown of social networks and community cohesion and the failure of development of alternative economic activities.
Due to the proximity to the mine, dependency on Rössing has remained one of the town’s most marked characteristics.
The proposed expansion project has now raised expectations that the mine’s activities will restore the prosperity of the town.
Rössing has operated the open-pit uranium mine in the Erongo Region of Namibia since 1976. Although of considerable extent, the Rössing ore body is of a low grade and consequently large volumes of rock have to be mined and processed to extract the powdered uranium concentrate that is the final product.
As a result of an increase in uranium prices on the international market in recent years, Rössing is now able to consider the possible financial benefits from an expansion of its operations.
The previous mine plan predicted an operational period ending in the year 2016. According to this plan, a sustainability assessment was undertaken and approved in 2005. Rössing is now looking at a mine plan beyond 2016 and consequently the associated social and environmental issues are being reviewed.
In terms of the Namibian Constitution and related environmental legislation, in particular the Environmental Assessment Policy (MET 1995) and the Minerals Act (No. 33 of 1992), the proposed expansion activities would require authorization from the responsible authorities before they can be
undertaken.
Insofar as the environmental acceptability of Rössing proposed expansion project is concerned, the Ministry of Environment and Tourism would need to issue clearance for such expansion.
A Social and Environmental Impact Assessment (SEIA) study has thus been commissioned by RU for their proposed expansion project, as required by the Environmental Assessment Policy (MET 1995) but also informed by the principles of Namibia’s Environmental Assessment and Management Act 2, as well as the internal standards and guidelines prescribed by Rio Tinto, Rössing Uranium’s parent company.
The report, which has now been submitted to the Ministry of Environment and Tourism (MET) for consideration, highlights the impact of the mine’s envisaged development on the fragile environment, amongst others.
Rössing aims to expand its operations to at least 2026, and has designed various projects to achieve this.
Phase 1 of the expansion project will see the establishment of a sulphuric acid plant, ore sorter and an SK4 pit. Rössing mine’s metallurgical process uses sulphuric acid leaching to extract the uranium from the ore. An onsite pyrite burning acid plant was in use until 1997, after which it was converted to burn sulphur imported through Walvis Bay and railed to the mine.
It was mothballed in 2000 when prices of imported acid became unfavourable against production costs.
Public concerns had been raised at the time, when sulphur spillage next to the railway line was found.
Current economic evaluations show that value may be gained by establishing a new sulphuric acid production plant at the mine, while continuing to import additional acid if required.
The existing on-site acid storage facilities will be upgraded and will be utilized to store the acid produced, while offloading and handling facilities at the mine will be installed or upgraded to deal with the envisaged developments.
For the ore sorter, a pre-screening plant and a production ore sorting plant comprising four screening units and two ore sorter clusters will become necessary, the report states.
While the entire Erongo Region stands to benefit from the Rössing mine’s expansion, the town of Arandis will derive most benefits from the exercise.
Arandis was established in 1976 to serve the needs of Rössing uranium mine through accommodation for its employees.
Until 1992, when the town was given to the Government as an independence gift, the town was wholly supported by the mine, and this support extended to health services, schooling, service provision, recreation and infrastructure maintenance.
In 1994, Arandis was proclaimed a fully-fledged town and the local authority struggled to deliver services with an inadequate budget, a lack of capacity and non-payment by residents.
The role that Rössing played in the support and functioning of Arandis in the past had built a strong dependence on the mine and the wave of retrenchments in the 1990s further impacted on the town. In effect, the town experienced two ‘quasi-closures’ and displayed some of the characteristics of communities impacted by closure, such as the erosion of the local authority’s revenue base, increased demands on local government as the number of indigents increased, the breakdown of social networks and community cohesion and the failure of development of alternative economic activities.
Due to the proximity to the mine, dependency on Rössing has remained one of the town’s most marked characteristics.
The proposed expansion project has now raised expectations that the mine’s activities will restore the prosperity of the town.
Rössing has operated the open-pit uranium mine in the Erongo Region of Namibia since 1976. Although of considerable extent, the Rössing ore body is of a low grade and consequently large volumes of rock have to be mined and processed to extract the powdered uranium concentrate that is the final product.
As a result of an increase in uranium prices on the international market in recent years, Rössing is now able to consider the possible financial benefits from an expansion of its operations.
The previous mine plan predicted an operational period ending in the year 2016. According to this plan, a sustainability assessment was undertaken and approved in 2005. Rössing is now looking at a mine plan beyond 2016 and consequently the associated social and environmental issues are being reviewed.
In terms of the Namibian Constitution and related environmental legislation, in particular the Environmental Assessment Policy (MET 1995) and the Minerals Act (No. 33 of 1992), the proposed expansion activities would require authorization from the responsible authorities before they can be
undertaken.
Insofar as the environmental acceptability of Rössing proposed expansion project is concerned, the Ministry of Environment and Tourism would need to issue clearance for such expansion.
A Social and Environmental Impact Assessment (SEIA) study has thus been commissioned by RU for their proposed expansion project, as required by the Environmental Assessment Policy (MET 1995) but also informed by the principles of Namibia’s Environmental Assessment and Management Act 2, as well as the internal standards and guidelines prescribed by Rio Tinto, Rössing Uranium’s parent company.
Tuesday, March 25, 2008
Indians on diamond mission to Namibia and Angola, Economic Times of India reports
(Economic Times of India)-Completely dependent on imports for rough diamonds, lifeline of the 14-billion-dollar exports of the polished precious stone, India is taking steps to obtain the raw material directly from Africa instead of sourcing it from European middlemen.
Minister of State for Commerce Jairam Ramesh is taking a delegation of country's major buyers of rough diamonds to Namibia and Angola beginning March 26.
Officers from the Gems and Jewellery Export Promotion Council, State Trading Corporation and MMTC Ltd are accompanying the minister, who feels India must involve Africa in the value chain of the diamond business.
In future, India will find it difficult to source rough diamonds unless it demonstrates to African nations that it will collaborate actively in helping them move up the value chain and assist in value addition in these producing countries. The Africanisation of diamonds processing industry is not a threat to India but a great opportunity which "we must proactively embrace", Ramesh said.
He said the visit to Angola and Nambia will be followed by another one in the next couple of months to South Africa and Botswana, the other important diamond producing countries in Africa.
India's estimated imports of rough diamonds in 2007-08 are 10 billion dollars, while estimates of exports of cut and polished diamonds in 2007-08 are about 14 billion dollars.
The country is the world's largest importer of rough and exporter of cut and polished diamonds with over 90 per cent market share.
Rough diamonds are presently procured through a variety of sources with the bulk of it coming into India through Antwerp in Belgium. It is in India's long-term interest to establish direct relationships with supplier countries, cutting out all the middlemen, Ramesh said.
The Commerce Ministry has also started dialogue with the major diamond producing countries. Alrossa, the Russian diamond producing company has recently sold roughs directly to Indian buyers, though in small quantities.
Angola produces about 10 per cent of the world's rough diamonds and is also a country with which India has been trying to establish a relationship in the oil sector. Namibia accounts for about six per cent of world rough diamonds production.
Though India has embarked on exploration of diamonds, it will take at least a decade before commercial deposits in states like Chhattisgarh, Andhra Pradesh and Karnataka are proven and established. The diamond cutting and polishing industry will continue to be entirely dependent on imports of rough diamonds for a long time to come, Ramesh said.
Officials of the ONGC Videsh are also accompanying the minister and will assist him in talks on cooperation with Angola in oil exploration (Economic Times of India)
Minister of State for Commerce Jairam Ramesh is taking a delegation of country's major buyers of rough diamonds to Namibia and Angola beginning March 26.
Officers from the Gems and Jewellery Export Promotion Council, State Trading Corporation and MMTC Ltd are accompanying the minister, who feels India must involve Africa in the value chain of the diamond business.
In future, India will find it difficult to source rough diamonds unless it demonstrates to African nations that it will collaborate actively in helping them move up the value chain and assist in value addition in these producing countries. The Africanisation of diamonds processing industry is not a threat to India but a great opportunity which "we must proactively embrace", Ramesh said.
He said the visit to Angola and Nambia will be followed by another one in the next couple of months to South Africa and Botswana, the other important diamond producing countries in Africa.
India's estimated imports of rough diamonds in 2007-08 are 10 billion dollars, while estimates of exports of cut and polished diamonds in 2007-08 are about 14 billion dollars.
The country is the world's largest importer of rough and exporter of cut and polished diamonds with over 90 per cent market share.
Rough diamonds are presently procured through a variety of sources with the bulk of it coming into India through Antwerp in Belgium. It is in India's long-term interest to establish direct relationships with supplier countries, cutting out all the middlemen, Ramesh said.
The Commerce Ministry has also started dialogue with the major diamond producing countries. Alrossa, the Russian diamond producing company has recently sold roughs directly to Indian buyers, though in small quantities.
Angola produces about 10 per cent of the world's rough diamonds and is also a country with which India has been trying to establish a relationship in the oil sector. Namibia accounts for about six per cent of world rough diamonds production.
Though India has embarked on exploration of diamonds, it will take at least a decade before commercial deposits in states like Chhattisgarh, Andhra Pradesh and Karnataka are proven and established. The diamond cutting and polishing industry will continue to be entirely dependent on imports of rough diamonds for a long time to come, Ramesh said.
Officials of the ONGC Videsh are also accompanying the minister and will assist him in talks on cooperation with Angola in oil exploration (Economic Times of India)
OGI Systems granted contract with Julius Klein Diamond Namibia, diamondintelligence.com reports
(www.diamondintelligence.com)-OGI Systems Ltd., creator of advanced technological tools for diamond designing manufacturing, has been granted a contact to be the main supplier for the Julius Klein Diamond (JKD) company in Namibia.
OGI Systems will supply machines for measuring and marking diamonds to JKD’s recently established factory in Windhoek.
Commenting on the contract, Daniel Ben Jano, OGI Systems Chief Executive Officer, says that “this association with JKD illustrates the directo control of OGI Systems Ltd. as the main supplier of Technological solutions for [DTC] sightholder firms.”
OGI Systems has developed an advanced USB technology used in laser marking of diamonds as well as in rough planning and laser scanning (www.diamondintelligence.com)
OGI Systems will supply machines for measuring and marking diamonds to JKD’s recently established factory in Windhoek.
Commenting on the contract, Daniel Ben Jano, OGI Systems Chief Executive Officer, says that “this association with JKD illustrates the directo control of OGI Systems Ltd. as the main supplier of Technological solutions for [DTC] sightholder firms.”
OGI Systems has developed an advanced USB technology used in laser marking of diamonds as well as in rough planning and laser scanning (www.diamondintelligence.com)
Gem-rich Namibia urges Thais to invest, Bankokpost reports
(Bankokpost)-Thais are being urged to invest in Namibia in southern Africa, particularly in diamond and jewellery cutting, mining and raw material supply for Thai jewellery.
Namibia has currently opened room for foreign investment with no restrictions on foreign ownership, and about 100 new concessions for diamond mining have been granted to the private sector. The mines have yet to become operational.
"We see Thai investors can take this opportunity to look for joint ventures in establishing gem cutting and diamond cutting in Namibia to cut operating costs," said Neville M. Gertze, Ambassador of Namibia to Thailand, who met Deputy Prime Minister Mingkwan Sangsuwan yesterday.
Namibia is well known for its diamond industry. The country's economy consists primarily of mining and manufacturing, which represent 74% and 11% of the gross domestic product (GDP), respectively.
Over the past three years its government has granted 50 concessions for the private sector to operate diamond mines that could produce a total of 100,000 carats of diamond per month. De Beers, the world's leading diamond producer, is one of the companies that operates diamond mining in Namibia, producing about one million carats of diamonds per year.
Apart from diamonds, Namibia is also rich in gems and precious stones such as tourmaline, amethyst, topaz, tiger-eye quartz and red quartz, and other minerals such as gold, uranium, copper, zinc and natural gas.
Mr Mingkwan said the Commerce Ministry in the near future planned to organise business trips to Namibia in order to seek trade and business opportunities, especially related to raw materials for the Thai jewellery industry.The Thai jewellery industry now imports raw materials from Namibia, mainly through middlemen.
Two-way trade between Namibia and Thailand was worth only US$5.05 million last year, with Thai exports representing $4.20 million. Thai exports were mainly for automobiles and parts, processed seafood, rubber products, machinery and components.
Namibia exports animal products and textiles to Thailand.
Mr Mingkwan said barter trade would probably be promoted to expand trade with Namibia, as the country desperately needed agricultural products from Thailand such as rice and seafood products (Bankokpost)
Namibia has currently opened room for foreign investment with no restrictions on foreign ownership, and about 100 new concessions for diamond mining have been granted to the private sector. The mines have yet to become operational.
"We see Thai investors can take this opportunity to look for joint ventures in establishing gem cutting and diamond cutting in Namibia to cut operating costs," said Neville M. Gertze, Ambassador of Namibia to Thailand, who met Deputy Prime Minister Mingkwan Sangsuwan yesterday.
Namibia is well known for its diamond industry. The country's economy consists primarily of mining and manufacturing, which represent 74% and 11% of the gross domestic product (GDP), respectively.
Over the past three years its government has granted 50 concessions for the private sector to operate diamond mines that could produce a total of 100,000 carats of diamond per month. De Beers, the world's leading diamond producer, is one of the companies that operates diamond mining in Namibia, producing about one million carats of diamonds per year.
Apart from diamonds, Namibia is also rich in gems and precious stones such as tourmaline, amethyst, topaz, tiger-eye quartz and red quartz, and other minerals such as gold, uranium, copper, zinc and natural gas.
Mr Mingkwan said the Commerce Ministry in the near future planned to organise business trips to Namibia in order to seek trade and business opportunities, especially related to raw materials for the Thai jewellery industry.The Thai jewellery industry now imports raw materials from Namibia, mainly through middlemen.
Two-way trade between Namibia and Thailand was worth only US$5.05 million last year, with Thai exports representing $4.20 million. Thai exports were mainly for automobiles and parts, processed seafood, rubber products, machinery and components.
Namibia exports animal products and textiles to Thailand.
Mr Mingkwan said barter trade would probably be promoted to expand trade with Namibia, as the country desperately needed agricultural products from Thailand such as rice and seafood products (Bankokpost)
Thursday, March 20, 2008
Forsys predicts earnings and cash flow robust, Namibian, Nampa reports
(Namibian/Nampa)-AT current uranium prices, the earnings and cash flows of Forsys Metals Corporation looks robust, according to its latest analyst report.
Forsys is a junior mining developer, which is close to completing a feasibility study on its 100 per cent-owned Valencia uranium project in Namibia.
It is situated 76 km southwest of Usakos, 35 km from the Roessing Uranium Mine and 40 km from Paladin's Langer Heinrich Uranium Mine near Swakopmund, in the Erongo Region.
The deposit is amenable to open-pit mining and processing.
Once in full production, Valencia could produce roughly 2,9 million pounds of uranium annually over a minimum 11-year mine life.
The report was compiled by Salman Partners on 12 March this year, and published on the company's website.
Capital spending would be roughly about N$2,2 billion versus the estimate in Forsys' pre-feasibility study of about N$1,6 billion to bring the project into production by mid-2010.
The company expected an average operating cash cost of approximately about N$288,82 per pound over the minimum 11-year mine-life.
"Several potential catalysts, including a potential take-over, resource growth through drilling, and a spin-off of non-core assets, could unlock shareholder value.
We believe that Forsys could be taken over by another uranium miner, a power utility or a nuclear power plant manufacturer looking to secure a long-term supply of uranium from a stable country.
We initiate coverage on the shares of Forsys with a buy recommendation," the report highlighted.
The company cited that there is good potential to find additional uranium resources within the immediate area around the Valencia project.
The company is currently carrying out exploration between the east zone, the north zone, and the main zone.
The report claimed that has a significant land package, surrounding Valencia, which could yield additional uranium deposits.
Valencia is one of the best uranium takeover targets available and Areva's acquisition of UraMin is the first volley in the impending flurry of takeovers in the uranium space indicated that Forsys is a plum target ripe for the picking, according to the report.
The Valencia project is expected to come on line in 2010.
"We expect that the commencement of production could coincide with peak uranium prices, which we estimate could average N$1 442 per pound in 2010, increasing to almost N$1 484 per pound in 2011.
We believe that Forsys could reap strong profits in the first couple of years of production," it noted.
Most of the world's supplies of mined uranium come from Canada, Australia, Kazakhstan, Niger, Namibia, Russia, Uzbekistan, South Africa, Ukraine and the United States-Namibian/Nampa.
Forsys is a junior mining developer, which is close to completing a feasibility study on its 100 per cent-owned Valencia uranium project in Namibia.
It is situated 76 km southwest of Usakos, 35 km from the Roessing Uranium Mine and 40 km from Paladin's Langer Heinrich Uranium Mine near Swakopmund, in the Erongo Region.
The deposit is amenable to open-pit mining and processing.
Once in full production, Valencia could produce roughly 2,9 million pounds of uranium annually over a minimum 11-year mine life.
The report was compiled by Salman Partners on 12 March this year, and published on the company's website.
Capital spending would be roughly about N$2,2 billion versus the estimate in Forsys' pre-feasibility study of about N$1,6 billion to bring the project into production by mid-2010.
The company expected an average operating cash cost of approximately about N$288,82 per pound over the minimum 11-year mine-life.
"Several potential catalysts, including a potential take-over, resource growth through drilling, and a spin-off of non-core assets, could unlock shareholder value.
We believe that Forsys could be taken over by another uranium miner, a power utility or a nuclear power plant manufacturer looking to secure a long-term supply of uranium from a stable country.
We initiate coverage on the shares of Forsys with a buy recommendation," the report highlighted.
The company cited that there is good potential to find additional uranium resources within the immediate area around the Valencia project.
The company is currently carrying out exploration between the east zone, the north zone, and the main zone.
The report claimed that has a significant land package, surrounding Valencia, which could yield additional uranium deposits.
Valencia is one of the best uranium takeover targets available and Areva's acquisition of UraMin is the first volley in the impending flurry of takeovers in the uranium space indicated that Forsys is a plum target ripe for the picking, according to the report.
The Valencia project is expected to come on line in 2010.
"We expect that the commencement of production could coincide with peak uranium prices, which we estimate could average N$1 442 per pound in 2010, increasing to almost N$1 484 per pound in 2011.
We believe that Forsys could reap strong profits in the first couple of years of production," it noted.
Most of the world's supplies of mined uranium come from Canada, Australia, Kazakhstan, Niger, Namibia, Russia, Uzbekistan, South Africa, Ukraine and the United States-Namibian/Nampa.
Black gold not out yet, Namibia Economist reports
(Namibia Economist)-20 March. A seismic study by INA Industrija Nafte, which is exploring for oil in Maltahohe, has sparked rumours of an oil find in Namibia. The Economist was inundated by calls this week from members of the public who wanted to verify these rumours.
Unfortunately there is no oil find yet, Permanent Secretary in the Ministry of Mines and Energy, Joseph Iita, told the Economist.
The ministry is the first to be informed of any oil find may any of the eight exploring companies find the commodity in the country.
INA Industrija Nafte, on 7 March, invited Minister Erkki Nghimtina for a seismic demonstration at its site, which is located on the Zaris Block.
The company is nearing the completion of the programme – the final tests are expected to be completed by the end of April – after which the results are to undergo interpretations. The interpretation process will take about three months. May the results be positive, the company will have to proceed with drilling. The preliminary results from the first stages of the seismic test are encouraging.
Other companies involved in oil exploration in Namibia are Tullow Oil, BHP Billiton, Hunt Oil, Neptune Petroleum, Greendale Universal Holdings and First Africa Oil Corporation.
Hunt Oil is in possession of an exploration license over the area known as the Lüderitz Basin. The licence covers four years. Britain’s Neptune Petroleum is exploring in the Walvis Basin.
The other companies are exploring in the Owambo Basin.
The government, especially the Ministry of Mines and Energy, has always believed that Namibia has oil. At the seismic demonstration in Maltahohe, Nghimtina said that other exploration programmes elsewhere are proceeding with good progress. A drilling ship is being expected to dock in Namibia next month from Angola. The ship will engage in the first ever exploration for oil in the Namibe Basin.
“I continue to argue that if Angola has such an abundance of oil and South Africa also has some oil of their own, God could not have been as unfair as to leave out Namibia in the middle without a drop of oil,” Nghimtina is on record as saying.
This week Iita reiterated his ministry conviction of oil’s presence in the country saying “there will be oil in Namibia but none has been discovered yet”-Namibia Economist.
Unfortunately there is no oil find yet, Permanent Secretary in the Ministry of Mines and Energy, Joseph Iita, told the Economist.
The ministry is the first to be informed of any oil find may any of the eight exploring companies find the commodity in the country.
INA Industrija Nafte, on 7 March, invited Minister Erkki Nghimtina for a seismic demonstration at its site, which is located on the Zaris Block.
The company is nearing the completion of the programme – the final tests are expected to be completed by the end of April – after which the results are to undergo interpretations. The interpretation process will take about three months. May the results be positive, the company will have to proceed with drilling. The preliminary results from the first stages of the seismic test are encouraging.
Other companies involved in oil exploration in Namibia are Tullow Oil, BHP Billiton, Hunt Oil, Neptune Petroleum, Greendale Universal Holdings and First Africa Oil Corporation.
Hunt Oil is in possession of an exploration license over the area known as the Lüderitz Basin. The licence covers four years. Britain’s Neptune Petroleum is exploring in the Walvis Basin.
The other companies are exploring in the Owambo Basin.
The government, especially the Ministry of Mines and Energy, has always believed that Namibia has oil. At the seismic demonstration in Maltahohe, Nghimtina said that other exploration programmes elsewhere are proceeding with good progress. A drilling ship is being expected to dock in Namibia next month from Angola. The ship will engage in the first ever exploration for oil in the Namibe Basin.
“I continue to argue that if Angola has such an abundance of oil and South Africa also has some oil of their own, God could not have been as unfair as to leave out Namibia in the middle without a drop of oil,” Nghimtina is on record as saying.
This week Iita reiterated his ministry conviction of oil’s presence in the country saying “there will be oil in Namibia but none has been discovered yet”-Namibia Economist.
Wednesday, March 19, 2008
Bannerman Resources to dual list on Namibia Stock Exchange
(miningnamibia) March 20-Bannerman Resources Ltd, which is listed on the Australian Stock Exchange and Toronto Stock Exchange will dual list on the Namibian Stock Exchange on 2 April, a statement released in Windhoek said. Bannerman will become the fifth uranium company to list in Namibia after Deep Yellow, Forsys, Paladin Energy and Xempler.
Bannerman is an exploration and pre-feasibility stage mining company with interests in two properties in Namibia and a number of properties in Botswana and Australia.
Bannerman is an exploration and pre-feasibility stage mining company with interests in two properties in Namibia and a number of properties in Botswana and Australia.
Rio Tinto's Rössing Uranium submits Environmental Impact Assessment to government
(miningnamibia) 19 March. Rio Tinto's Rössing Uranium Mine has submitted the Social and Environmental Impact Assessment (SEIA) on its expansion project to the Namibian Ministry of Environment and Tourism for consideration.
Marie Hoadley, Public Participation manager of the Rössing Uranium Mine Expansion Project said today that if the ministry's decision is positive, a clearance will be issued and the project will be able to proceed.
The final SEIA Report can be downloaded from Rössing Uranium’s website, www.rossing.com
Hoadley said the the scoping stage of the second phase of the SEIA process has commenced and a draft of the scoping report will soon be made available for public comment.
Rio Tinto approved the US$112 million expansion plan for Rössing Uranium mine in December 2005. The expansion is expected to increase the production life of the mine to 2016.
Marie Hoadley, Public Participation manager of the Rössing Uranium Mine Expansion Project said today that if the ministry's decision is positive, a clearance will be issued and the project will be able to proceed.
The final SEIA Report can be downloaded from Rössing Uranium’s website, www.rossing.com
Hoadley said the the scoping stage of the second phase of the SEIA process has commenced and a draft of the scoping report will soon be made available for public comment.
Rio Tinto approved the US$112 million expansion plan for Rössing Uranium mine in December 2005. The expansion is expected to increase the production life of the mine to 2016.
Tuesday, March 18, 2008
New uranium mines increasing demand for power
New uranium mines in Namibia increasing power demand
(miningnamibia)-March 18-New uranium mines in Namibia are increasing the country's power consumption, according to a recent study conducted by the Windhoek based by the Renewable Energy and Energy Efficiency Institute (REEEI).
REEEI is looking at several options of increasing power production for the next 18 years until 2026, with low, medium and high electricity demand scenarios.
The country's has a generation capacity of 384 megawatt (MW) and imports about 200 MW when demand perks especially in winter.
Skorpion Zinc mine consumes about 80 MW and Forsys, Deep Yellow and Uramin are developing uranium mines in the country. Paladin Energy's Langer Heinrich mine was opened last year.
According to REEEI, if Namibia use renewable energy sources to produce electricity, this could contribute 20 per cent of the country's electricity supply.
(miningnamibia)-March 18-New uranium mines in Namibia are increasing the country's power consumption, according to a recent study conducted by the Windhoek based by the Renewable Energy and Energy Efficiency Institute (REEEI).
REEEI is looking at several options of increasing power production for the next 18 years until 2026, with low, medium and high electricity demand scenarios.
The country's has a generation capacity of 384 megawatt (MW) and imports about 200 MW when demand perks especially in winter.
Skorpion Zinc mine consumes about 80 MW and Forsys, Deep Yellow and Uramin are developing uranium mines in the country. Paladin Energy's Langer Heinrich mine was opened last year.
According to REEEI, if Namibia use renewable energy sources to produce electricity, this could contribute 20 per cent of the country's electricity supply.
Thursday, March 13, 2008
Zinc, copper prices help Namibian Business Climate climb to 144 points
(miningnamibia) March 13. Rising prices zinc and copper helped the Namibian Business Climate to reach 144 points in January following three consecutive months of decline.
The IJG Business Climate Index increase by 3.6 points on December' s figure. Apart from metal prices, the index’s gains were based on an increase in new business registrations, a steady rise in the local index of the Namibian Stock Exchange, and a further depreciation in the Namibia dollar against the Euro.
Anglo American's Skorpion Zinc Mine and Exxaro's Rosh Pinah Zinc Corporation are Namibia's Zinc mines. Weatherly International runs the country's only copper mines in the north as well as a smelter.
The IJG Business Climate Index increase by 3.6 points on December' s figure. Apart from metal prices, the index’s gains were based on an increase in new business registrations, a steady rise in the local index of the Namibian Stock Exchange, and a further depreciation in the Namibia dollar against the Euro.
Anglo American's Skorpion Zinc Mine and Exxaro's Rosh Pinah Zinc Corporation are Namibia's Zinc mines. Weatherly International runs the country's only copper mines in the north as well as a smelter.
Tuesday, March 11, 2008
Julius Klein Group and Dinamo Group Commence Diamond Manufacturing In Namibia
(miningnamibia) March 12-The Julius Klein Group (JKG) and its Namibian partner, the Dinamo Group, today announced the official opening of its new diamond manufacturing facility and corporate office, JKD Namibia (Pty) Ltd, in Prosperita, Windhoek.
This will mark the second manufacturing facility that the Julius Klein Group has opened in southern Africa, joining its sister operation in Johannesburg, South Africa.
More than N$ 30m (approx. US$4m) has been invested thus far in building a state of the art manufacturing facility, which currently employs 91 staff, of which 68 are Namibian and, once at full operational capacity, will employ over 125 staff.
“With this new venture, we bring with us the same traditions and values upon which Julius Klein Diamonds was built: integrity, trust, dedication and pride in craftsmanship” said A D Klein, JKG President. “It is these same values we are fully committed to instilling throughout everything we do today and always at JKD Namibia.”
Shihaleni Ndjaba, CEO of Namibia Diamond Trading Company (NDTC) added, ‘’The entry of JKD Namibia in the Namibian diamond manufacturing industry marks an important milestone in the local beneficiation process. The commitment shown by the JKD Group and their Namibian partners, the Dinamo Group, is highly commendable and NDTC is looking forward to working in partnership with JKD Namibia in creating a sustainable manufacturing industry in Namibia’’
Phillipine Angula, JKD Namibia Marketing Manager and partner from the Dinamo Group concurred with Messieurs Klein and Ndjaba. “The Dinamo Group is thrilled to be part of the value added proposition undertaken by JKD Namibia and its principles. Together, Julius Klein and Dinamo will strive to enhance and contribute to the economic development and social beneficiation of our fine country, including contributing to the promotion and marketing of a Namibian diamond brand.”
The Julius Klein Group has been a DTC Sightholder since 1990 with JKD Namibia receiving confirmation that it had been selected as one of 11 NDTC Sightholders in October 2007. JKD Namibia will receive supplies of rough diamonds from the NDTC until 2011.
This will mark the second manufacturing facility that the Julius Klein Group has opened in southern Africa, joining its sister operation in Johannesburg, South Africa.
More than N$ 30m (approx. US$4m) has been invested thus far in building a state of the art manufacturing facility, which currently employs 91 staff, of which 68 are Namibian and, once at full operational capacity, will employ over 125 staff.
“With this new venture, we bring with us the same traditions and values upon which Julius Klein Diamonds was built: integrity, trust, dedication and pride in craftsmanship” said A D Klein, JKG President. “It is these same values we are fully committed to instilling throughout everything we do today and always at JKD Namibia.”
Shihaleni Ndjaba, CEO of Namibia Diamond Trading Company (NDTC) added, ‘’The entry of JKD Namibia in the Namibian diamond manufacturing industry marks an important milestone in the local beneficiation process. The commitment shown by the JKD Group and their Namibian partners, the Dinamo Group, is highly commendable and NDTC is looking forward to working in partnership with JKD Namibia in creating a sustainable manufacturing industry in Namibia’’
Phillipine Angula, JKD Namibia Marketing Manager and partner from the Dinamo Group concurred with Messieurs Klein and Ndjaba. “The Dinamo Group is thrilled to be part of the value added proposition undertaken by JKD Namibia and its principles. Together, Julius Klein and Dinamo will strive to enhance and contribute to the economic development and social beneficiation of our fine country, including contributing to the promotion and marketing of a Namibian diamond brand.”
The Julius Klein Group has been a DTC Sightholder since 1990 with JKD Namibia receiving confirmation that it had been selected as one of 11 NDTC Sightholders in October 2007. JKD Namibia will receive supplies of rough diamonds from the NDTC until 2011.
Forsys Appoints New Chief Financial Officer
Forsys Appoints New Chief Financial Officer
March 11-(miningnamibia)-Forsys Metals Corp has announced the appointment of Craig Bamford to the executive position of Chief Financial Officer (CFO) effective March 10, 2008.
Bamford is a Chartered Accountant and experienced CFO with more than 25 years of finance background relating to project management and controls, financial reporting and controls, treasury and capital management, risk management, due diligence and business development, Forsys said. Bamford has 22 years of experience in the uranium industry and was previously the CFO for Denison Energy Inc., formerly Denison Mines Limited, a major North American uranium producer.
March 11-(miningnamibia)-Forsys Metals Corp has announced the appointment of Craig Bamford to the executive position of Chief Financial Officer (CFO) effective March 10, 2008.
Bamford is a Chartered Accountant and experienced CFO with more than 25 years of finance background relating to project management and controls, financial reporting and controls, treasury and capital management, risk management, due diligence and business development, Forsys said. Bamford has 22 years of experience in the uranium industry and was previously the CFO for Denison Energy Inc., formerly Denison Mines Limited, a major North American uranium producer.
Monday, March 10, 2008
Nuclear power bad option: Earthlife Namibia, The Namibian reports
March 10-The Namibian-THE use of nuclear power is unsafe, dangerous and a bad option for Namibia, due to long-term radiation and unsolved problems regarding nuclear waste storage placing a heavy burden on future generations, a Namibian environmental organisation says.
In a reaction to last week's Cabinet decision to opt for uranium enrichment in Namibia as well as the construction of a nuclear power plant, the organisation Earthlife Namibia on Friday said it was "absolutely shocked" about the decision.
"Given current global demand, it is estimated that the world's uranium resources - both those currently available and possible new reserves - will be exhausted within 60 to 70 years," it said.
Earthlife stated that Government's view that electricity produced by nuclear power plants was environmentally friendly and free of carbon emissions was not true.
According to the Cabinet briefing paper, "energy produced by nuclear power stations is considered carbon free, especially if its fuel is processed using nuclear-generated electricity.
Products made or mined using this power qualifies for special consideration in terms of carbon credit."
Earthlife countered that the nuclear industry lobby and pro-nuclear politicians wanted to make the world believe that nuclear power was climate friendly.
"The whole fuel cycle of nuclear power, from mining uranium, enrichment of uranium to the decommissioning of the power station after its lifespan, releases three to four times more carbon dioxide per unit of energy produced than renewable energy," Earthlife spokesperson Bertchen Kohrs noted.
"High-level nuclear waste remains radioactive for a long time and worldwide there is no solution of safe disposal.
Nuclear waste is a problem that does not go away because it remains dangerous for at least 200 000 years, thus we burden many generations to come with a problem we create today.
There is a risk of low-level radiation in all stages of the nuclear power process.
Research shows that low-level radiation does have health and environmental implications," Kohrs said in the statement.
Earthlife argues that nuclear energy is on average up to four times more expensive than electricity produced from fossil fuels like oil, coal and gas.
"The enormous costs of decommissioning a nuclear power station and dealing with nuclear waste are usually not included in project cost plans."
Nuclear accidents were mostly a combination of technological and human failure, and could never be ruled out completely; a nuclear accident could have a terrible impact on many generations to come, it warned.
"The consequences of the nuclear explosion at the power station of Chernobyl in the Ukraine 20 years ago still burden many people and the environment.
"Earthlife Namibia urges Government to not make nuclear energy generation an option.
Namibia has many sustainable and climate-friendly resources which should be utilised to the benefit of the country, its people and the environment.
Namibia has two uranium mines - Roessing and Langer Heinrich - in operation.
Twelve more mines are planned, mostly in the Erongo Region, while the largest uranium deposit has been found near Warmbad in a mountain range along the Orange River.
According to mining experts, Namibia's uranium deposits will be depleted by about 2026.
"There is not much use of having a nuclear power station and a uranium enrichment plant, both of which would take at least ten years - until 2018 - to get up and running when eight just years later uranium mining will end," a geologist speaking on condition of anonymity told The Namibian over the weekend (The Namibian).
In a reaction to last week's Cabinet decision to opt for uranium enrichment in Namibia as well as the construction of a nuclear power plant, the organisation Earthlife Namibia on Friday said it was "absolutely shocked" about the decision.
"Given current global demand, it is estimated that the world's uranium resources - both those currently available and possible new reserves - will be exhausted within 60 to 70 years," it said.
Earthlife stated that Government's view that electricity produced by nuclear power plants was environmentally friendly and free of carbon emissions was not true.
According to the Cabinet briefing paper, "energy produced by nuclear power stations is considered carbon free, especially if its fuel is processed using nuclear-generated electricity.
Products made or mined using this power qualifies for special consideration in terms of carbon credit."
Earthlife countered that the nuclear industry lobby and pro-nuclear politicians wanted to make the world believe that nuclear power was climate friendly.
"The whole fuel cycle of nuclear power, from mining uranium, enrichment of uranium to the decommissioning of the power station after its lifespan, releases three to four times more carbon dioxide per unit of energy produced than renewable energy," Earthlife spokesperson Bertchen Kohrs noted.
"High-level nuclear waste remains radioactive for a long time and worldwide there is no solution of safe disposal.
Nuclear waste is a problem that does not go away because it remains dangerous for at least 200 000 years, thus we burden many generations to come with a problem we create today.
There is a risk of low-level radiation in all stages of the nuclear power process.
Research shows that low-level radiation does have health and environmental implications," Kohrs said in the statement.
Earthlife argues that nuclear energy is on average up to four times more expensive than electricity produced from fossil fuels like oil, coal and gas.
"The enormous costs of decommissioning a nuclear power station and dealing with nuclear waste are usually not included in project cost plans."
Nuclear accidents were mostly a combination of technological and human failure, and could never be ruled out completely; a nuclear accident could have a terrible impact on many generations to come, it warned.
"The consequences of the nuclear explosion at the power station of Chernobyl in the Ukraine 20 years ago still burden many people and the environment.
"Earthlife Namibia urges Government to not make nuclear energy generation an option.
Namibia has many sustainable and climate-friendly resources which should be utilised to the benefit of the country, its people and the environment.
Namibia has two uranium mines - Roessing and Langer Heinrich - in operation.
Twelve more mines are planned, mostly in the Erongo Region, while the largest uranium deposit has been found near Warmbad in a mountain range along the Orange River.
According to mining experts, Namibia's uranium deposits will be depleted by about 2026.
"There is not much use of having a nuclear power station and a uranium enrichment plant, both of which would take at least ten years - until 2018 - to get up and running when eight just years later uranium mining will end," a geologist speaking on condition of anonymity told The Namibian over the weekend (The Namibian).
Sunday, March 9, 2008
Forsys Prepares for Contract Mining at Valencia
Forsys Prepares for Contract Mining at Valencia
March 10-(miningnamibia)-Forsys Metals Corporation has announced that Valencia Uranium (Pty) Ltd., a wholly-owned subsidiary of the company has entered into a Heads of Agreement with Basil Read (Pty) Ltd for the provision of mining services for the company's 100% owned Valencia Uranium Mine located in Namibia, Africa. Basil Read, based in South Africa since 1952, is a diversified construction company possessing capacity, expertise and a considerable track record in the fields of building, civil engineering, structures, roads and opencast mining. Basil Read is currently performing select contract mining services across southern Africa, including the Rio Tinto's Rossing Uranium Mine, located approximately 35 km from Valencia.
Pursuant to the Agreement, Valencia and Basil Read have entered into negotiations on the commercial terms for the provision of mining and construction services for the establishment and operation of Valencia.
Priorities at Valencia which will be addressed immediately by Basil Read and Valencia include the development of a mining plan, mining programme and a mining budget.
March 10-(miningnamibia)-Forsys Metals Corporation has announced that Valencia Uranium (Pty) Ltd., a wholly-owned subsidiary of the company has entered into a Heads of Agreement with Basil Read (Pty) Ltd for the provision of mining services for the company's 100% owned Valencia Uranium Mine located in Namibia, Africa. Basil Read, based in South Africa since 1952, is a diversified construction company possessing capacity, expertise and a considerable track record in the fields of building, civil engineering, structures, roads and opencast mining. Basil Read is currently performing select contract mining services across southern Africa, including the Rio Tinto's Rossing Uranium Mine, located approximately 35 km from Valencia.
Pursuant to the Agreement, Valencia and Basil Read have entered into negotiations on the commercial terms for the provision of mining and construction services for the establishment and operation of Valencia.
Priorities at Valencia which will be addressed immediately by Basil Read and Valencia include the development of a mining plan, mining programme and a mining budget.
Deep Yellow exploration and drilling update
Deep Yellow exploration and drilling update
March 10 (miningnamibia)-Deep Yellow Limited has issued a Namibian exploration and drilling Update. Deep Yellow Ltd (DYL) said in preliminary results from its ongoing
exploration and drilling activities being undertaken in Namibia by its wholly owned subsidiary Reptile Uranium Namibia (Pty) that latest diamond drillhole on the Tubas uraniferous magnetite intersects 229 ppm eU3O8 over 115 m from 14 m. It said RC drilling on Tumas confirms widespread uranium mineralisation outside known Falconbridge delineated areas.
Best intersection to date is 571 ppm eU3O8 over 8.7 m from surface. Diamond drilling to +400 m commenced on Tubas North alaskites. RC drilling on Tubas North continues to intersect wide alaskite hosted low grade uranium mineralisation.
Airborne electromagnetic survey which were due to begin last week: - RC drilling which commenced last week on Aussinanis and Ripnes Where eU3O8 is reported it relates to values attained from radiometrically logging boreholes with Auslog equipment using an A675 - slimline gamma ray tool. The probe has been calibrated at the Pelindaba Calibration facility in South Africa with calibration certification provided by Geotron Systems (Pty) Ltd a geophysical consultancy based in South Africa. All eU3O8 results reported are affected by issues pertaining to possible disequilibrium and uranium mobility, which should be taken into account when interpreting them pending confirmatory chemical analyses.
March 10 (miningnamibia)-Deep Yellow Limited has issued a Namibian exploration and drilling Update. Deep Yellow Ltd (DYL) said in preliminary results from its ongoing
exploration and drilling activities being undertaken in Namibia by its wholly owned subsidiary Reptile Uranium Namibia (Pty) that latest diamond drillhole on the Tubas uraniferous magnetite intersects 229 ppm eU3O8 over 115 m from 14 m. It said RC drilling on Tumas confirms widespread uranium mineralisation outside known Falconbridge delineated areas.
Best intersection to date is 571 ppm eU3O8 over 8.7 m from surface. Diamond drilling to +400 m commenced on Tubas North alaskites. RC drilling on Tubas North continues to intersect wide alaskite hosted low grade uranium mineralisation.
Airborne electromagnetic survey which were due to begin last week: - RC drilling which commenced last week on Aussinanis and Ripnes Where eU3O8 is reported it relates to values attained from radiometrically logging boreholes with Auslog equipment using an A675 - slimline gamma ray tool. The probe has been calibrated at the Pelindaba Calibration facility in South Africa with calibration certification provided by Geotron Systems (Pty) Ltd a geophysical consultancy based in South Africa. All eU3O8 results reported are affected by issues pertaining to possible disequilibrium and uranium mobility, which should be taken into account when interpreting them pending confirmatory chemical analyses.
Thursday, March 6, 2008
Uranium exports to boost Namibian economy
Uranium exports to boost Namibian economy
(Miningnamibia)-The Namibian GDP is anticipated to rise to 4.7% in 2008 on the back of expected favourable commodity prices and increased uranium production, according to the 2008/2009 national budget. Paladin Energy's Langer Heinrich mine is expected to increase production this year. The economy grew by 4.1% in 2006 and preliminary analyses project growth to have slightly declined to around 4.0% in 2007. Over the three year period, growth is projected to average 5.2 %.
The Minister of Finance Saara Kuungongelwa Amadhila said the economic outlook is, however, exposed to risks from uncertain power supply, possible reductions in demand for Namibian exports and continuing inflationary pressures. Inflation increased from 5.1% in 2006 to 6.8% in 2007, and is expected to increase further to 7.0% in 2008, driven by rising transport and food prices.
The Namibian government will allocate the power utility NamPower, 610 million Namibian dollars this year. The money will support infrastructural development for power generation and for back-up energy supply.
“The additional funds are aimed at tackling the energy crisis both in the short and long term,” said Kuungongelwa Amadhila
GDP growth is expected to decline to 4 percent in 2009, due to a decline in diamond mining. The GDP growth is expected to accelerate to 6.2 percent in 2010, when diamond mining is expected to recover.
(Miningnamibia)-The Namibian GDP is anticipated to rise to 4.7% in 2008 on the back of expected favourable commodity prices and increased uranium production, according to the 2008/2009 national budget. Paladin Energy's Langer Heinrich mine is expected to increase production this year. The economy grew by 4.1% in 2006 and preliminary analyses project growth to have slightly declined to around 4.0% in 2007. Over the three year period, growth is projected to average 5.2 %.
The Minister of Finance Saara Kuungongelwa Amadhila said the economic outlook is, however, exposed to risks from uncertain power supply, possible reductions in demand for Namibian exports and continuing inflationary pressures. Inflation increased from 5.1% in 2006 to 6.8% in 2007, and is expected to increase further to 7.0% in 2008, driven by rising transport and food prices.
The Namibian government will allocate the power utility NamPower, 610 million Namibian dollars this year. The money will support infrastructural development for power generation and for back-up energy supply.
“The additional funds are aimed at tackling the energy crisis both in the short and long term,” said Kuungongelwa Amadhila
GDP growth is expected to decline to 4 percent in 2009, due to a decline in diamond mining. The GDP growth is expected to accelerate to 6.2 percent in 2010, when diamond mining is expected to recover.
Farmers alarmed by water permit for Forsys Metal's Valencia Uraniun, The Namibian says
Farmers alarmed by water permit for Forsys Metal's Valencia Uraniun, The Namibian says
(The Namibian)-FARM OWNERS in the Valencia area in Namibia's central northwest are up in arms over Government granting Forsys Metal's Valencia Uranium project a permit to extract 1 000 cubic metres of water a day.
Seventy per cent of the Valencia project is owned by Forsys Metals, while a Namibian BEE company, Ancash Investments (chaired by Namibian entrepreneur, Zacky Nujoma), enjoys a 30 per cent share.
Forsys Metal announced on its website last month that it had received a permit for the extraction of groundwater for the Valencia Uranium Mine from the Ministry of Agriculture, Water and Forestry.
It said the permit allows it to extract up to 1 000 cubic metres of water a day - "a sufficient quantity to continue with the development of the mine".
The permit is valid for two years, during which time 730 000 cubic metres of water would be extracted.
Reliable sources told The Namibian that a farm uses less water in 36 years than Valencia intends to extract in a month.
Although it is not a commercial farming area, there is major concern about the impact Valencia's water extraction would have on the environment and wildlife - especially in an area where ground water is scarce.
The permit can be withdrawn at any time, should the ground water level approach a critical level.
Farmers and other affected parties who have aired their concerns at several public meetings on the subject are now questioning the transparency of the shareholders.
One of their concerns is the fact that the permit is valid from the date of the last meeting held in Swakopmund on February 12 this year.
At that meeting, it had not yet been disclosed to local people how much water the mine would need.
Pierre Botha of Water Sciences, who undertook the hydro-geological survey, said at the meeting that the water pumps for the mine were not ready and that the issue would again be discussed with local farmers when they were.
The permit was however already valid on the day he made these comments.
Initially, in April last year, the company was quoted as saying it would require about four cubic metres of water a day during its construction phase.
This amount has gradually increased - later it was said that the mine would need about 300 cubic metres of water a day.
Now it is allowed to pump 1 000 cubic metres a day.
The affected parties say there is no meaningful data to justify this increase in demand.
(The Namibian)-FARM OWNERS in the Valencia area in Namibia's central northwest are up in arms over Government granting Forsys Metal's Valencia Uranium project a permit to extract 1 000 cubic metres of water a day.
Seventy per cent of the Valencia project is owned by Forsys Metals, while a Namibian BEE company, Ancash Investments (chaired by Namibian entrepreneur, Zacky Nujoma), enjoys a 30 per cent share.
Forsys Metal announced on its website last month that it had received a permit for the extraction of groundwater for the Valencia Uranium Mine from the Ministry of Agriculture, Water and Forestry.
It said the permit allows it to extract up to 1 000 cubic metres of water a day - "a sufficient quantity to continue with the development of the mine".
The permit is valid for two years, during which time 730 000 cubic metres of water would be extracted.
Reliable sources told The Namibian that a farm uses less water in 36 years than Valencia intends to extract in a month.
Although it is not a commercial farming area, there is major concern about the impact Valencia's water extraction would have on the environment and wildlife - especially in an area where ground water is scarce.
The permit can be withdrawn at any time, should the ground water level approach a critical level.
Farmers and other affected parties who have aired their concerns at several public meetings on the subject are now questioning the transparency of the shareholders.
One of their concerns is the fact that the permit is valid from the date of the last meeting held in Swakopmund on February 12 this year.
At that meeting, it had not yet been disclosed to local people how much water the mine would need.
Pierre Botha of Water Sciences, who undertook the hydro-geological survey, said at the meeting that the water pumps for the mine were not ready and that the issue would again be discussed with local farmers when they were.
The permit was however already valid on the day he made these comments.
Initially, in April last year, the company was quoted as saying it would require about four cubic metres of water a day during its construction phase.
This amount has gradually increased - later it was said that the mine would need about 300 cubic metres of water a day.
Now it is allowed to pump 1 000 cubic metres a day.
The affected parties say there is no meaningful data to justify this increase in demand.
Sunday, March 2, 2008
Namibia plans to set up nuclear reactor, The Namibian says
Namibia plans to set up nuclear reactor, The Namibian says
3 March. The Namibia government has decided to opt for nuclear power generation and has approved the construction of nuclear power plants and to allow uranium enrichment on Namibian soil, despite environmental dangers such as long-term radiation from nuclear waste for over 200 000 years, storage of atomic waste and nuclear plants having a short lifespan of just 40 years before having to shut down for good, The Namibia newspaper reported on Monday.
3 March. The Namibia government has decided to opt for nuclear power generation and has approved the construction of nuclear power plants and to allow uranium enrichment on Namibian soil, despite environmental dangers such as long-term radiation from nuclear waste for over 200 000 years, storage of atomic waste and nuclear plants having a short lifespan of just 40 years before having to shut down for good, The Namibia newspaper reported on Monday.
Thursday, February 28, 2008
Namibia Chamber of Mines establishes Uranium Stewardship Committee
Namibia Chamber of Mines establishes Uranium Stewardship Committee
The Chamber of Mines of Namibia has established a committee to safe guard the interest of the uranium industry. The chamber said in a statement that the Uranium Stewardship Committee has been established due to the rapidly growing uranium industry in Namibia.
The chamber said establishment of the committee was done in line with the recently published World Nuclear Association’s stewardship principles which advocates for collective responsibility and commitment by all players to the safe and responsible management of the uranium product.
The chamber will develop a Regional Strategic Environmental Management Plan (SEMP in conjunction with the Southern African Institute for Environmental Assessment (SAIEA), the World Nuclear Association (WNA) and the International Atomic Energy Agency (IAEA).
The Chamber of Mines of Namibia has established a committee to safe guard the interest of the uranium industry. The chamber said in a statement that the Uranium Stewardship Committee has been established due to the rapidly growing uranium industry in Namibia.
The chamber said establishment of the committee was done in line with the recently published World Nuclear Association’s stewardship principles which advocates for collective responsibility and commitment by all players to the safe and responsible management of the uranium product.
The chamber will develop a Regional Strategic Environmental Management Plan (SEMP in conjunction with the Southern African Institute for Environmental Assessment (SAIEA), the World Nuclear Association (WNA) and the International Atomic Energy Agency (IAEA).
Additional rigs at Husab Uranium Project
Additional rigs at Husab Uranium Project
Extract Resources now has three drill rigs operating at Rossing South discovery, which forms part of its wholly owned Husab Uranium Project in Namibia.
Extract said it considers Rossing South has excellent potential to host a significant uranium deposit under the sand cover and early progress has reinforced this view.
Extract Resources now has three drill rigs operating at Rossing South discovery, which forms part of its wholly owned Husab Uranium Project in Namibia.
Extract said it considers Rossing South has excellent potential to host a significant uranium deposit under the sand cover and early progress has reinforced this view.
Forsys Metals Corp gets permission to abstract water
Forsys Metals Corp gets permission to abstract water
Forsys Metals Corp has received permits for the abstraction of ground water for the Valencia Uranium Mine in Namibia's Erongo Region from the Ministry of Agriculture Water and Forestry, Department of Water Affairs. The permits allow the company to abstract up to 1,000 cubic meters of water per day, a sufficient quantity to continue with the development of Valencia. The company is also continuing to work with the Namibia Water Corporation Limited, the bulk water supplier, in refining the terms and conditions for the long term supply of desalinated water to Valencia.
Forsys Metals Corp is focusing on creating shareholder value by developing uranium assets in Namibia. The Valencia uranium deposit is 100% owned and is one of only a handful of new uranium projects around the globe that is scheduled for production in late 2009.
Forsys Metals Corp has received permits for the abstraction of ground water for the Valencia Uranium Mine in Namibia's Erongo Region from the Ministry of Agriculture Water and Forestry, Department of Water Affairs. The permits allow the company to abstract up to 1,000 cubic meters of water per day, a sufficient quantity to continue with the development of Valencia. The company is also continuing to work with the Namibia Water Corporation Limited, the bulk water supplier, in refining the terms and conditions for the long term supply of desalinated water to Valencia.
Forsys Metals Corp is focusing on creating shareholder value by developing uranium assets in Namibia. The Valencia uranium deposit is 100% owned and is one of only a handful of new uranium projects around the globe that is scheduled for production in late 2009.
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