Johannesburg, South Africa — MININGREVIEW.COM — 27 March, 2008 – First Uranium Corporation – a resources company focused on the development of uranium and gold projects in South Africa – has been given the government thumbs-up for the transfer of the new order mining right to the Ezulwini uranium mine.
A company news release issued today confirms that First Uranium has received notice from the South African Department of Minerals and Energy (DME) that it has consented to the cession of the new order mining right for the Ezulwini Mine from Simmer and Jack Mines Limited to Ezulwini Mining Company (Pty) Ltd.(EMC) – a wholly-owned subsidiary of First Uranium. Located 40 km south-west of Johannesburg, the Ezulwini Mine is a uranium and gold mine that was reopened in 2006.
“Securing the consent of the DME for the transfer of the mining right to EMC is excellent news,” said First Uranium president and CEO Gordon Miller. “The DME’s consent is the result of us successfully satisfying the requirements of the Mineral and Petroleum Resources Development Act, including an audit of the company’s environmental and health programmes and its social and labour plans, a review of the company’s compliance with Black Economic Empowerment requirements, and the submission of an acceptable mining plan.”
Under the mining right granted to First Uranium’s parent company Simmer & Jack, EMC is nearing completion of the refurbishment of the main shaft at the Ezulwini Mine, and began hoisting ore in September 2007. The mine began producing gold on a toll-milling basis in October 2007, although on a limited basis since January 2008 due to the power constraints at the neighbouring plant where the ore was being milled.
“EMC is on schedule to start up its own gold plant in April 2008 and its own uranium plant in June 2008,” the news release confirmed.
First Uranium also plans to grow production further by pursuing value enhancing acquisition and joint venture opportunities in South Africa and elsewhere.