Mantra Resources to start uranium mining at Mkuju River project

Tanzania. Image from S

Australia’s Mantra Resources Pty Ltd. (ASX:MRU)) will start extracting uranium at its Mkuju River project in Tanzania, reports

Its subsidiary Mantra Tanzania Ltd. received its environmental impact assessment certificate from the government and is set to proceed.

The company said it would wait for the dry season — typically June through September — to begin so trucks can drive safely on the roads.

During the life of the mine, the Mkuju River project anticipates $1 billion of foreign investment and generate about $630 million to direct and indirect cash flows.

The European Union said it would work with the Tanzanian government to ensure uranium mining is properly conducted.

The Mkuju River project is an in situ recovery uranium project about 470 kilometres southwest of Dar es Salaam. It holds 139,600 tonnes of measured and indicated resources.

Canadian-based Uranium One Inc. (TSE: UUU) holds a minority stake in the project.



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