HomeEnergy MineralsNew US$750 million uranium mine for Namibia

New US$750 million uranium mine for Namibia

The Olkiluoto 3
project – an example
of the nuclear plants
Areva constructs
around the world
Windhoek, Namibia — MININGREVIEW.COM — 23 June 2008 – French-based Areva – world leader in the design and construction of nuclear power plants – plans to build a US$750 million (R6 billion) uranium mine in Namibia once it secures a mining licence, and construction could start as early as next month.

Reuters reports that managing director of the company’s Namibian unit, Ian McPherson, told a news conference here the investment would make Trekkopje the third largest uranium mine in Namibia. This would place it among the top 10 uranium mines in the world.

“Mining will start at the end of 2009 and we expect to process 100 000 tonnes of ore per day, and to extract about 6 to 8 million pounds of uranium per annum,” he said.

Trekkopje will have a lifespan of 10 to12 years, with 35% of its yellow cake earmarked for the Chinese market, McPherson revealed. About US$40 million (R320 million) would pay for a desalination plant on the Atlantic Coast. “This plant is already under construction,” he added.

Reuters reports that Areva is currently the top marketer of uranium fuel and third-largest producer of yellow cake (uranium oxide) worldwide.