African Energy to operate uranium mine in Zambia

8 September 2009

frican Energy Resources has announced its intention of taking its uranium mine at Chirundu in Zambia into operation as from 2010.

Company CEO Frazer Tabeart told a press conference in Perth on Friday 4 September 2009 in Perth that an operating licence was pending. Engineers are currently carrying out a feasibility study.

Chirundu may have a potential resource of 33,000 tonnes of uranium, which would allow for an operational period of five to six years.

The Chirundu project involves two operational sites, Njame and Gwabe. Plans are for Njame to be taken into operation first, as an open-cast mine and processing plant. This would require an investment of 70 million Dollars.

According to Frazer Tabeart, 25 million Dollars more will be invested in constructing the Gwabe mine, the uranium from which will be processed at the Njame plant.

Interest in Zambian uranium has been growing for a number of years. The Government has in fact passed a law allowing foreign companies to exploit uranium on a large scale, with the aim of diversifying its mining sector, which is too heavily dependent on copper, and so enhancing economic development.<br/>

Category: Energy