Perth, Australia — MININGREVIEW — 25 April 2008 – The pre-feasibility study report for the Chirundu Uranium joint venture project in Zambia – which has just been approved by the board of 30% shareholder African Energy Resources – has confirmed that commercially viable mining of uranium from the project is possible under projected uranium price, capital cost and operating cost scenarios.
The study has been delivered to 70% stakeholder Albidon Limited, which has issued a news release here revealing that source upgrades of the Njame and Gwabe uranium deposits to indicated resource category have been prepared, and are undergoing final peer review by independent experts. “Once these resource updates are complete, African Energy’s equity in the Chirundu JV will increase to 70%,” it adds.
“The board of African Energy has resolved to commit to a bankable feasibility study,” says the release, “and a detailed scope and budget for this BFS is in preparation.”
Further details on the key results from the pre-feasibility study, and a summary of the bankable feasibility study, will be released in due course.