Kalahari Minerals (LON:KAH), whose main asset is the Husab uranium project in Namibia, has accepted a cash offer from Chinese Guangdong Nuclear Power Corp (CGNPC) valuing the London-listed company at $993 million.
Namibia Mining News
A planned iron ore mine and a steel plant, with the possibility of a new port, envisioned for the Kunene Region is likely to fast-track Namibia's march towards industrialisation. Eastern China Non-Ferrous Metals Investment Holdings announced earlier in the week the discovery of deposits of over 2 billion tonnes of iron ore in Kunene.
Kalahari Minerals (LON:KAH) and Extract Resources (ASX:EXT) were both up slightly today after the companies announced they have received a mining licence for their Husab uranium project in Namibia. London-listed Kalahari has a 42.7% stake in Extract. Kalahari said in a press release that the mine lease, valid for 25 years, will allow the project to move into production and establish Husab as one of the three largest uranium mines in the world. The company states the mine would produce 15 million pounds of U3O8 per year through open-pit mining. The deposit has a resource estimate of 500 million pounds U3O8.
Helio Resource Corp (TSX-V: HRC) is pleased to report the first results from a recently completed RC drill programme on the Gold Kop target, at the Damara Gold Project in central Namibia.
Australian uranium producer, Paladin Energy, announced that its U3O8 production was 15% lower due to planned shutdowns and unscheduled remediation work. The company's stock declined 4.15% to $1.50 after Paladin announced on Monday its quarterly report for the three-month period ended September 30, 2011 The company did have record sales of 2,001,673lb U3O8, which generated revenue of US$102.74M. The average sales price for U3O8 was US$51.33/lb.
Lucara Diamond Corp. ("Lucara" or the "Company") (TSX:LUC)(BOTSWANA:LUC) is pleased to provide the following update on the development of its AK6 diamond mine in Botwsana which is rapidly nearing completion as well as the trial mining program at the Mothae diamond mine in Lesotho which, based on continued good results, will soon be moving into the pre-feasibility stage.
THE Namibia Diamond Trading Company (NDTC) has paid dividends of N$40 million to Government, bringing the total amount of state dividends this year to N$100 million. To date, the NDTC has pumped N$310 million worth of dividends into state coffers, the...
- $5 million expenditure to earn initial 49% interest in Dome- Rio Tinto has identified multiple high priority targets at Dome
Deep Yellow, a uranium exploration company with operations in Namibia and in Australia, announced on Tuesday additional high grade uranium intercepts from RC drilling at the Ongolo Alaskite Deposit and the MS7 Prospect.
Around half of Rio Tinto's Rossing Uranium workers are taking part in a strike that is hitting production at its mine in Namibia, the union involved said on Saturday, also countering company claims that some of the mine was still working.
A strike appears imminent at Rio Tinto's Rssing Uranium Mine in the Namibian-Naukluft Park (pictured) after workers unhappy over production bonuses on Wednesday voted unanimously in favour of industrial action that could cripple operations at the mine responsible for some 5% of world production. Management said the demands were unreasonable and defeat logic. The industrial action takes place at a difficult time for the uranium industry with the spot price recently falling below $50 – levels last seen immediately after the nuclear accident at Fukushima. The sector has lost some 40% of its value since the Japan disaster and the first deal of what is expected to be widespread consolidation in the industry is already shaping up to be a classic David and Goliath fight.
WINDHOEK, Sept 20 (Reuters) - Management at Rio Tinto (Berlin: CRA1.BE - news) 's Rossing Uranium mine in Namibia will meet with unions on Tuesday in a bid to avoid a strike over production incentives that could hurt output at one of the world's largest
Gemxcel Diamonds, has been donating N$7000 per month to the Christina Swart-Opperman Aids Orphan Foundation Trust since August. The money enables the trust to continue with its projects, according to Dr Christina Swart-Opperman. Some of the funds will be
While Rio Tinto’s Rössing Uranium Limited is committed to solving the dispute over employee bonus payments with the Mineworkers Union of Namibia (MUN), it would not agree to the union’s “unreasonable demands”, said the company’s Managing
PERTH, WESTERN AUSTRALIA--(Marketwire - Sept. 12, 2011) - Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN) (ASX:PDN)wishes to note that the Company's Board of Directors advise that financial close has been reached under the Langer Heinrich Project Finance Facility ("Facility"), and Paladin has submitted a drawdown notice for US$127.2M.
TORONTO, ONTARIO--(Marketwire - Sept. 8, 2011) - Auryx Gold Corp. ("Auryx" or the "Company") (TSX:AYX)(NSX:AYX) is pleased to announce the discovery of two distinct zones of massive iron-oxides ("Fe-oxides") overlying and peripheral to the Otjikoto gold deposit. Both zones occur at and near surface and have been named the Main Magnetite Zone ("MMZ") and the Magnetite 1 Zone ("M1Z"). Geophysical work suggests the Fe-oxide mineralization has a potential strike length of 6km. Please follow the link to view a plan view of the magnetic anomaly:http://auryxgold.com/projects/otjikoto_drill_program/mag_anomalies/
The US government is worried that Namibia doesn't have enough safeguards to prevent rogue companies from getting their hands on nuclear material sourced locally. After a meeting with Trade and Industry
Areva Resources Namibia, a subsidiary of a French giant mining company confirmed on Friday the uranium ore stolen on August 25. allegedly by four men - three Namibians and a Zimbabwean - originated from its Trekkoppje mine situated 80 kilometres north of Swakopmund. The four suspects were arrested and appeared in court after radioactive material was found in their possession.
The Australian owners of the fourth largest primary uranium deposit in the world - Husab in Namibia - have said project development financing negotiations are progressing well and in line with expectations of further project upside from a newly launched Mine Optimisation and Resource Extension (More) program across the project.
WINDHOEK – Four drums of radioactive material stolen last week in Namibia contained uranium ore and came from Areva's Trekkopje Mine in the country, the French company said on Friday. Four suspects have been arrested and the stolen material has been
Full financial support has been finalised for an extension at a Namibian uranium mine, while Australian and US projects have reached more regulatory milestones, and a production increase is planned in Kazakhstan.
Helio Resource Corp (TSX-V: HRC) is pleased to report the first results from a recently completed RC drill program on the Gold Kop target, at the Damara Gold Project in central Namibia.
Australia's Paladin Energy has signed three new uranium sale agreements with US customers for output from the stage 3 expansion of the Langer Heinrich mine in the Namib desert (pictured).
Production and investment forecasts in the Namibian mining industry: uranium set to overtake diamonds as Namibia's largest foreign currency earner
Research and Markets (http://www.researchandmarkets.com/research/5cb789/production_and_inv) has announced the addition of Frost & Sullivan's new report "Production and Investment Forecasts in the Namibian Mining Industry" to their offering. This research
A day after news of an onerous new mining royalty and taxation regime in Peru, Namibia, the world’s biggest miner of offshore diamonds and a top four uranium producer, drops plans for a huge jump in the corporate tax rate for miners and mineral export levies. Deputy Finance Minister Calle Schlettwein said on Wednesday, the country has withdrawn a proposal to increase the tax on non-diamond miners to 44% from 37.5% and will instead propose a windfall tax when international prices for the commodities are high. Namibia was one of 25 countries around the world that recently announced their intentions to increase their take of the mining industry’s profits or impose ownership and other restrictions.