HomeEnergy MineralsFull feasibility for Namibian uranium project

Full feasibility for Namibian uranium project

Managing director Peter
Batten ringing the
opening bell at the
listing of Bannerman
Resources on the
Namibian Stock Exchange
last month
Perth, Australia — MININGREVIEW.COM — 23 May 2008 – Canadian, Australian and Namibian-listed Bannerman Resources Limited – an emerging international uranium producer with projects in Namibia and Botswana – has given the go-ahead for a full feasibility study for the development of a uranium mine at the Goanikontes’ Anomaly in Namibia

An announcement here last night confirmed that the contract had been awarded to the engineering construction company GRD Minproc – a subsidiary of GRD Limited. GRD Minproc is an international engineering contractor with offices on three continents, and has successfully completed over 200 projects and 300 feasibility studies in more than 30 countries.

The company’s recent uranium experience includes the EPCM contract for the Langer Heinrich uranium mine in Namibia, the feasibility study for the Kayelekera uranium project in Malawi and the feasibility study on the Bakouma uranium project in the Central African Republic, together with several other feasibility studies on uranium projects in Africa and Australia.

The announcement revealed that work on the study would commence immediately and was expected to continue through to the first quarter of 2009. It would cover management and design of the proposed mine, process plant and infrastructure, and would provide the basis to progress Anomaly A from a resource to a producing mine.

Bannerman Resources has two exploration projects in Namibia situated close to Rio Tinto Plc’s Rossing Uranium and Palamin’s Langer Heinrich mines.

Managing director Peter Batten said earlier this year that the two Bannerman projects were expected to produce between 6.5 and 8.9 M lbs of uranium oxide a year. “There are no new uranium mines which we anticipate would be producing in this range by 2011,” he added.

He said the company planned to raise US$450 million (R3.4 billion) in debt and equity to finance development of the project.