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Namibia Grants Australian Company 25-Year Uranium Mining Licence

Posted on: Thursday, 28 July 2005, 06:00 CDT

Text of unattributed report entitled "Paladin granted approval to mine uranium" published by Namibian news agency Nampa website on 27 July

The minister of mines and energy has approved the granting of a 25-year mining licence to Langer Heinrich Uranium (Pty) Ltd, a uranium mining company wholly owned by Paladin Resources Ltd.

Paladin Resources announced in a statement on Wednesday [27 July] that the approval would allow the company to proceed with the full- scale development of the Langer Heinrich mining operation. "This is a milestone achievement for the company and Paladin would like to acknowledge the highly professional and timely manner in which both the Commissioner of Mines and the relevant departments of the Namibian government have dealt with the progress of the project," said Paladin.

The planned Langer Heinrich uranium mine will produce 2.6Mlb of Triuranium octaoxide (U3O8) by processing 1.5Mt of calcrete ore per year over a 15-year period based on the current Bankable Feasibility Study mining model.

Paladin said Namibia would maintain its position as an important producer of uranium on the world scene with the Langer Heinrich mine in production. The Australian mining company said key development personnel to supplement the company's on-site project team have been identified and office facilities have been established in Swakopmund.

"The development of the Langer Heinrich uranium mine marks a significant event not only for Paladin but also for the uranium supply industry in general. Langer Heinrich represents the first new, conventional uranium mining and treatment operation to be given the go ahead in more than two decades and, moreover, Paladin will be the first new supplier to enter the uranium industry since 1983," the company noted.

Source: BBC Monitoring Africa

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