News

Zambia: Developing Mutanga’s uranium mine will need an initial investment of $123mln (study)

  • Comments   -   Thursday, 23 November 2017 - 15:07

(Ecofin Agency) - Toronto-listed GoviEx Uranium has released this week the results of the preliminary economic assessment (PEA) for its Mutanga uranium mine in Zambia. 

According to these results, the project’s development will initially require $123 million.

Also, the PEA estimated to $112 million the project’s pre-tax net actual value and to 25% its internal profitability rate. It should generate $268 million of net available cash flow over an initial 11-year mine life.

Over this period, the mine should produce 2.4 million pounds of yellowcake uranium yearly. This at a recovery rate of 88%. 

Let it be noted that these assessments are based on indicated and measured mineral resources of 15 million pounds of triuranium octoxide of and 45 million pounds of inferred mineral resources.   

We are pleased by the encouraging results of this PEA. GoviEx now has two mine-permitted projects – Madouela in Niger and Mutanga in Zambia – and we can clearly see the economic potential for both,” commented GoviEx executive chairman.

GoviEx Uranium is also present in Mali on the Falea copper, silver and uranium project. 

Louis-Nino Kansoun

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