April 18 (miningnamibia)-The net profit for Namibia's diamond company, Namdeb declined to N$143 million last year from N$305 million in 2006, the company said in financial results for the year ended 31 December 2007 released in Windhoek today.
“Production costs came under pressure during 2007 due to higher than anticipated fuel prices and salary increases granted as well as additional maintenance work required on the sea wall due to adverse weather conditions,” the company said. Namdeb said profit before tax decreased to N$776 million from N$1.2 billion in 2006 mainly due to the reduction in revenue and increased production costs, Namdeb said.
Diamond sales revenue at N$4.56 billion is 15 percent lower than in 2006 as a result of the reduction in carats sold, combined with the effect of the price correction in the rough diamond market in the second half of 2006, the company said.
“Production exceeded 2 million carats for the second year in a row at a 4 percent improvement on 2006 but as a result of production schedules carat sales were 5 percent below those of 2006,” the company said.
Friday, April 18, 2008
Trans Hex may pull out of Namibia
April 18 (miningnamibia)-Trans Hex, the marine diamond company is condidering pulling of Namibia, the company has said.
Trans Hex said its operations in Namibia comprising the group's two deep water mining vessels, continue to make losses and various options for exiting this business are being actively considered, the company said.
Trans Hex said its operations in Namibia comprising the group's two deep water mining vessels, continue to make losses and various options for exiting this business are being actively considered, the company said.
India looks at Namibia for uranium supply, UPI says
India said it is exploring the option of sourcing uranium from countries such as Namibia that are not members of the Nuclear Suppliers Group, UPI reported.
The government initiated talks with authorities from Namibia and Niger for a long-term relationship in uranium supply. A senior official of the Department of Atomic Energy said India's request has been conveyed to Namibian Prime Minister Nahas Angula.
India is restricted from sourcing uranium from the 45-member NSG, which controls global nuclear commerce, as it is not party to the nuclear nonproliferation treaty, The Business Line newspaper reported
Namibia, Niger and Uzbekistan are among the non-NSG countries that produce sizable amounts of uranium. The official said India could face trouble as both countries are signatories to the African Nuclear Weapon Free Zone Treaty, which aims to establish a nuclear-free zone in Africa.
The Indo-U.S. civilian nuclear deal, which has run into trouble in India because of opposition from the government's left-party allies, seeks to provide a special exemption to India from the NSG precondition.
The government initiated talks with authorities from Namibia and Niger for a long-term relationship in uranium supply. A senior official of the Department of Atomic Energy said India's request has been conveyed to Namibian Prime Minister Nahas Angula.
India is restricted from sourcing uranium from the 45-member NSG, which controls global nuclear commerce, as it is not party to the nuclear nonproliferation treaty, The Business Line newspaper reported
Namibia, Niger and Uzbekistan are among the non-NSG countries that produce sizable amounts of uranium. The official said India could face trouble as both countries are signatories to the African Nuclear Weapon Free Zone Treaty, which aims to establish a nuclear-free zone in Africa.
The Indo-U.S. civilian nuclear deal, which has run into trouble in India because of opposition from the government's left-party allies, seeks to provide a special exemption to India from the NSG precondition.
Wednesday, April 9, 2008
Uranium mine's water plans under attack, The Namibian reports
(The Namibian)-A DECISION by the Ministry of Agriculture, Water and Forestry to allow a planned new uranium mine in an arid area southwest of Usakos to use large quantities of underground water is being challenged in the High Court.
The case questioning the Ministry's decision to grant water abstraction permits to Valencia Uranium was filed with the High Court on Thursday.
Valencia Uranium plans to start a mine at farm Valencia some 55 kilometres southwest of Usakos.
The mine would be one of several new uranium mines being established in the Erongo Region.
As far as could be established yesterday, the case is the first of its kind in Namibia in which a land owner in an area close to such a planned mine is questioning the way in which scarce natural resources are intended to be used by such a new mine.
It has been filed against the company, the Minister of Agriculture, Water and Forestry, the Minister of Mines and Energy, the Minister of Environment and Tourism, Government and the owner of farm Valencia.
Roger Laine, Chief Geologist of Valencia Uranium and a Director of the company's Canadian mother company, Forsys Metals Corp, refused to tell The Namibian yesterday whether the company intends opposing the application.
The case was with the company's lawyers, he said, while also refusing to say who the lawyers are.
It is however understood that the case is being opposed, and is set to be heard in the High Court tomorrow.
The case was filed by Namib Plains Farming and Tourism CC, a close corporation that is the owner of farm Namib Plains, which is a portion of farm Namib Plaas and is situated about five kilometres from Valencia.
The CC wants the court to order that Valencia Uranium may not extract groundwater from the area for which it has been given water abstraction permits, and that these permits be reviewed and set aside.
In a sworn statement filed with the court, one of the members of the CC, Marieta Engelbrecht, states that their farm is situated in a "totally undisturbed" natural habitat where wildlife and bird species are dependent on natural underground water, which is either pumped to the surface through boreholes or have formed fountains.
Farm Namib Plains borders the Khan River, and part of an ancient underground water reservoir, referred to as a "palaeo channel", lies underneath it, Engelbrecht states.
She states that four permits issued to Valencia Uranium by the Ministry of Agriculture, Water and Forestry on February 12 this year entitles the company to drill boreholes and extract water on farm Namib Plains and other privately owned farms which are situated in the Khan River and above the palaeo channel.
These permits however were issued without the owners of Namib Plains and other affected landowners from the area being able to give input to the Ministry before the decision was taken.
It was also done without any proper studies being done to first determine what effect the extraction of underground water would have on water tables in the area, Engelbrecht claims.
She states that the permits granted to Valencia Uranium would allow the company to draw up to 1 000 cubic metres of water a day - that is, a million litres of water a day - from the Khan River and the palaeo channel.
This will, or at best for the company and Government and the Ministers being sued, may have "an irreversible damaging effect on the environment", according to Engelbrecht.
"The water table will, or at best may, drop significantly, consequently the trees are bound to die, applicant's existing two boreholes will dry up, and fountains (of which applicant has two) may dry up causing wild animals to die," she states.
She adds that before Valencia Uranium draws any water from the palaeo channel, verifiable empirical data is required.
"Currently, such data is not available.
Prior to that, no meaningful decision could have been made by (the Minister of Agriculture, Water and Forestry)," she states.
Engelbrecht charges that the owners of Namib Plains were given "a distorted, if not deliberately false picture" of Valencia Uranium's intentions on the use of underground water.
In April last year, company representatives first gave assurances that a desalination plant would be built at the coast to produce water for the mine's use and that the mine would not extract underground water for any purpose, she says.
By the first week of December, another representative of the company said that the mine would use 300 cubic metres of groundwater a day during the construction of the mine and the first part of its mining phase, she adds.
By February 12, another company representative informed interested parties that the company had applied for permits to extract up to 500 cubic metres of groundwater a day.
That was the same date that the permits allowing the company to extract up to 1 000 cubic metres of groundwater a day were issued.
According to Engelbrecht, one of these permits allows the company to drill boreholes over the palaeo channel.
The same permit also states that "only once it is conclusively found that groundwater abstraction from this palaeo channel of the Khan River is feasible and sustainable, without any adverse effects to downstream users, may a separate application for groundwater abstraction be submitted for consideration by the Ministry".
A permit allowing the company to draw and use water from these same boreholes covered by that permit was however issued on the same date, Engelbrecht states.
These two permits, she charges, "make a mockery of logic.
It is well known that it has not been shown that no adverse effect will occur to downstream users as a result of boreholes to be drilled in the palaeo channel."
Valencia Uranium has done an environmental impact assessment (EIA) on the effect its planned mine would have on the environment around it.
In a chapter on the geohydrology of the area at and around Valencia, some words of caution are first sounded about the lack of knowledge about the underground water reservoir, in the report referred to as a "paleochannel aquifer", in that area: "The sustainable yield of this paleochannel aquifer is unknown, as no data or calculations with regard to this aquifer could be located.
Overall, very little is known regarding this aquifer and further investigations would be required to evaluate this aquifer's potential."
In the same chapter of the EIA a recommendation is made that this aquifer should be investigated further as a possible groundwater source.
In the application filed by the farm owners, an affidavit by a groundwater expert, geohydrologist Otto Jansen van Vuuren, is also included.
Van Vuuren explains that a "palaeo channel" is, simply put, "a buried stream channel".
He also states: "They are environmental treasures and should be treated with the utmost caution."
He adds that there is "virtually no empirical data available in Namibia in relation to the palaeo channel in the vicinity of the Valencia mine".
Without empirical data being available, he states, extracting water from this aquifer would be contrary to the Constitution's Article 95, which requires the State to adopt policies aimed at the maintenance of ecosystems, biological diversity and the utilisation of natural resources on a sustainable basis for the benefit of all Namibians.
"This principle is called, in environmental terms, the precautionary principle," according to Van Vuuren.
"Without the empirical data available no decision may or should be made."
The case questioning the Ministry's decision to grant water abstraction permits to Valencia Uranium was filed with the High Court on Thursday.
Valencia Uranium plans to start a mine at farm Valencia some 55 kilometres southwest of Usakos.
The mine would be one of several new uranium mines being established in the Erongo Region.
As far as could be established yesterday, the case is the first of its kind in Namibia in which a land owner in an area close to such a planned mine is questioning the way in which scarce natural resources are intended to be used by such a new mine.
It has been filed against the company, the Minister of Agriculture, Water and Forestry, the Minister of Mines and Energy, the Minister of Environment and Tourism, Government and the owner of farm Valencia.
Roger Laine, Chief Geologist of Valencia Uranium and a Director of the company's Canadian mother company, Forsys Metals Corp, refused to tell The Namibian yesterday whether the company intends opposing the application.
The case was with the company's lawyers, he said, while also refusing to say who the lawyers are.
It is however understood that the case is being opposed, and is set to be heard in the High Court tomorrow.
The case was filed by Namib Plains Farming and Tourism CC, a close corporation that is the owner of farm Namib Plains, which is a portion of farm Namib Plaas and is situated about five kilometres from Valencia.
The CC wants the court to order that Valencia Uranium may not extract groundwater from the area for which it has been given water abstraction permits, and that these permits be reviewed and set aside.
In a sworn statement filed with the court, one of the members of the CC, Marieta Engelbrecht, states that their farm is situated in a "totally undisturbed" natural habitat where wildlife and bird species are dependent on natural underground water, which is either pumped to the surface through boreholes or have formed fountains.
Farm Namib Plains borders the Khan River, and part of an ancient underground water reservoir, referred to as a "palaeo channel", lies underneath it, Engelbrecht states.
She states that four permits issued to Valencia Uranium by the Ministry of Agriculture, Water and Forestry on February 12 this year entitles the company to drill boreholes and extract water on farm Namib Plains and other privately owned farms which are situated in the Khan River and above the palaeo channel.
These permits however were issued without the owners of Namib Plains and other affected landowners from the area being able to give input to the Ministry before the decision was taken.
It was also done without any proper studies being done to first determine what effect the extraction of underground water would have on water tables in the area, Engelbrecht claims.
She states that the permits granted to Valencia Uranium would allow the company to draw up to 1 000 cubic metres of water a day - that is, a million litres of water a day - from the Khan River and the palaeo channel.
This will, or at best for the company and Government and the Ministers being sued, may have "an irreversible damaging effect on the environment", according to Engelbrecht.
"The water table will, or at best may, drop significantly, consequently the trees are bound to die, applicant's existing two boreholes will dry up, and fountains (of which applicant has two) may dry up causing wild animals to die," she states.
She adds that before Valencia Uranium draws any water from the palaeo channel, verifiable empirical data is required.
"Currently, such data is not available.
Prior to that, no meaningful decision could have been made by (the Minister of Agriculture, Water and Forestry)," she states.
Engelbrecht charges that the owners of Namib Plains were given "a distorted, if not deliberately false picture" of Valencia Uranium's intentions on the use of underground water.
In April last year, company representatives first gave assurances that a desalination plant would be built at the coast to produce water for the mine's use and that the mine would not extract underground water for any purpose, she says.
By the first week of December, another representative of the company said that the mine would use 300 cubic metres of groundwater a day during the construction of the mine and the first part of its mining phase, she adds.
By February 12, another company representative informed interested parties that the company had applied for permits to extract up to 500 cubic metres of groundwater a day.
That was the same date that the permits allowing the company to extract up to 1 000 cubic metres of groundwater a day were issued.
According to Engelbrecht, one of these permits allows the company to drill boreholes over the palaeo channel.
The same permit also states that "only once it is conclusively found that groundwater abstraction from this palaeo channel of the Khan River is feasible and sustainable, without any adverse effects to downstream users, may a separate application for groundwater abstraction be submitted for consideration by the Ministry".
A permit allowing the company to draw and use water from these same boreholes covered by that permit was however issued on the same date, Engelbrecht states.
These two permits, she charges, "make a mockery of logic.
It is well known that it has not been shown that no adverse effect will occur to downstream users as a result of boreholes to be drilled in the palaeo channel."
Valencia Uranium has done an environmental impact assessment (EIA) on the effect its planned mine would have on the environment around it.
In a chapter on the geohydrology of the area at and around Valencia, some words of caution are first sounded about the lack of knowledge about the underground water reservoir, in the report referred to as a "paleochannel aquifer", in that area: "The sustainable yield of this paleochannel aquifer is unknown, as no data or calculations with regard to this aquifer could be located.
Overall, very little is known regarding this aquifer and further investigations would be required to evaluate this aquifer's potential."
In the same chapter of the EIA a recommendation is made that this aquifer should be investigated further as a possible groundwater source.
In the application filed by the farm owners, an affidavit by a groundwater expert, geohydrologist Otto Jansen van Vuuren, is also included.
Van Vuuren explains that a "palaeo channel" is, simply put, "a buried stream channel".
He also states: "They are environmental treasures and should be treated with the utmost caution."
He adds that there is "virtually no empirical data available in Namibia in relation to the palaeo channel in the vicinity of the Valencia mine".
Without empirical data being available, he states, extracting water from this aquifer would be contrary to the Constitution's Article 95, which requires the State to adopt policies aimed at the maintenance of ecosystems, biological diversity and the utilisation of natural resources on a sustainable basis for the benefit of all Namibians.
"This principle is called, in environmental terms, the precautionary principle," according to Van Vuuren.
"Without the empirical data available no decision may or should be made."
Friday, April 4, 2008
Weatherly International records US$1.2 million loss
April 4-(miningnamibia)-Interim Financial results for Weatherly International plc for the six-month period to 31 December 2007 show that revenue from its operations during the year amounted to US$41.5 million. Weatherly recorded a net loss of US$1.2 million or US$0.29 per basic share during the period.
Weatherly is an AIM-listed resource company with copper mining and smelting operations in Namibia.
Rod Webster, its CEO, said despite the modest loss, he was satisfied with Weatherly's performance as it continues to build up its production capability.
“During the financial period production costs increased, largely due to underground development work at Otjihase, mine commissioning expenses in our Northern Operational Region (Namibia), and to a lesser extent increases in oil, coal and power costs. At Otjihase, time was spent backfilling the mined-out areas of a high-grade block known as Karuma. This will allow for the safe extraction of a number of remaining pillars over the next five years. The Tsumeb West mine was commissioned at the beginning of the half year and the nearby Tschudi mine was commissioned in October,” he said.
On the smelting side, Webster said the focus is on the two-stage expansion project, which has progressed well. Re-commissioning of the first stage, the “Ausmelt” furnace, is progressing on schedule.
He said this would increase the yearly smelting capacity to approximately 35,000 tonnes of copper blister. Stage two includes the commissioning of an oxygen plant in mid-2009 that will conservatively increase yearly production capacity to approximately 50000 tons, he said.
Weatherly is an AIM-listed resource company with copper mining and smelting operations in Namibia.
Rod Webster, its CEO, said despite the modest loss, he was satisfied with Weatherly's performance as it continues to build up its production capability.
“During the financial period production costs increased, largely due to underground development work at Otjihase, mine commissioning expenses in our Northern Operational Region (Namibia), and to a lesser extent increases in oil, coal and power costs. At Otjihase, time was spent backfilling the mined-out areas of a high-grade block known as Karuma. This will allow for the safe extraction of a number of remaining pillars over the next five years. The Tsumeb West mine was commissioned at the beginning of the half year and the nearby Tschudi mine was commissioned in October,” he said.
On the smelting side, Webster said the focus is on the two-stage expansion project, which has progressed well. Re-commissioning of the first stage, the “Ausmelt” furnace, is progressing on schedule.
He said this would increase the yearly smelting capacity to approximately 35,000 tonnes of copper blister. Stage two includes the commissioning of an oxygen plant in mid-2009 that will conservatively increase yearly production capacity to approximately 50000 tons, he said.
Canadian junior explorer signs eight-licence earn-in transaction in Namibia, Miningweekly reports
April 4 (miningweekly)-Toronto-based mineral explo- ration company Helio Resources has signed a binding letter of intent with South African junior mining company TransAfrican Minerals in connection with eight licences in Namibia, whereby TransAfrican has the option of earning up to a 70% interest in the licences by solely funding a bankable feasibility study.
The study will last two years. TransAfrican will manage, develop and operate the various projects. The licences that fall under the agreement are Tevrede North, Tevrede West, Tevrede South, Honib, Oasis, Huab, Borwa, and Fransfontein, all of which are located within the lower Proterozoic Age Kamanjab Inlier.
Work completed by Helio to date has identified copper, zinc, silver and gold drill targets at Tevrede North; copper and gold targets at Tevrede South; zinc and lead targets at Honib; and lead, zinc, copper and silver targets at Oasis.
TransAfrican deputy chairperson and president Mohamed Matongo says that TransAfrican sought out a number of junior mining companies with advanced projects in Namibia, and eventually signed with Helio owing to its advanced projects currently in operation in the region.
“Helio has already done extensive exploration in the region, and the first drilling results have been encouraging. Further, Helio also has a number of projects in other African countries, such as Tanzania, Malawi, Namibia and Mozambique,” he says.
Matongo adds that, by signing up with Helio, TransAfrican was assured of stability and predictability.
“Professional people run Helio. If they approach us with a project, we know that the dirty work has already been done, and we, therefore, pick up the project, knowing that reli- able people have already assisted the project thoroughly,” he notes.
“We are very bullish about the project. The area we have signed up, located north of Namibia, near the Angolan border, has already seen a lot of exploration, and initial results indicate that there are quality resources in the area.”
He says that, from the inception of TransAfrican, he has defined what makes a successful junior mining company according to three criteria, namely the team one employs, the size and quality of projects, and the location of projects. He says that he spent many months trying to find the right team that understands the industry and the ethos that his company is trying to ascribe to.
“The challenge was to find the right mining company. Luckily enough, Helio is a company that fitted our criteria. Further, Namibia has good infrastructure, and we, therefore, had a compelling case to invest there,” he says.
While TransAfrican’s main focus is pan-Africa, it is also open to projects outside the continent. The company has also latched on to projects in Australia, Indonesia and Mongolia, and has conducted a similar transaction to that with Helios, with Toronto-listed ICS Copper Systems.
The study will last two years. TransAfrican will manage, develop and operate the various projects. The licences that fall under the agreement are Tevrede North, Tevrede West, Tevrede South, Honib, Oasis, Huab, Borwa, and Fransfontein, all of which are located within the lower Proterozoic Age Kamanjab Inlier.
Work completed by Helio to date has identified copper, zinc, silver and gold drill targets at Tevrede North; copper and gold targets at Tevrede South; zinc and lead targets at Honib; and lead, zinc, copper and silver targets at Oasis.
TransAfrican deputy chairperson and president Mohamed Matongo says that TransAfrican sought out a number of junior mining companies with advanced projects in Namibia, and eventually signed with Helio owing to its advanced projects currently in operation in the region.
“Helio has already done extensive exploration in the region, and the first drilling results have been encouraging. Further, Helio also has a number of projects in other African countries, such as Tanzania, Malawi, Namibia and Mozambique,” he says.
Matongo adds that, by signing up with Helio, TransAfrican was assured of stability and predictability.
“Professional people run Helio. If they approach us with a project, we know that the dirty work has already been done, and we, therefore, pick up the project, knowing that reli- able people have already assisted the project thoroughly,” he notes.
“We are very bullish about the project. The area we have signed up, located north of Namibia, near the Angolan border, has already seen a lot of exploration, and initial results indicate that there are quality resources in the area.”
He says that, from the inception of TransAfrican, he has defined what makes a successful junior mining company according to three criteria, namely the team one employs, the size and quality of projects, and the location of projects. He says that he spent many months trying to find the right team that understands the industry and the ethos that his company is trying to ascribe to.
“The challenge was to find the right mining company. Luckily enough, Helio is a company that fitted our criteria. Further, Namibia has good infrastructure, and we, therefore, had a compelling case to invest there,” he says.
While TransAfrican’s main focus is pan-Africa, it is also open to projects outside the continent. The company has also latched on to projects in Australia, Indonesia and Mongolia, and has conducted a similar transaction to that with Helios, with Toronto-listed ICS Copper Systems.
Thursday, April 3, 2008
Second desalination plant for Namibia as uranium mining booms, Namibia Economist reports
April 4. (Namibia Economist)-The country’s arid Erongo Region, the focal point of Namibia’s uranium mining boom, is thirsty and by 2015 old and new uranium mines will require 53 million cubic meters of water per annum.
This development has led to water utility NamWater announcing plans for another desalination plant in the country’s desert coastal region. At present, Namibia consumes about 67 million cubic meters per annum. But with more or more uranium mines being planned for the Erongo Region, NamWater notes that the solution lies in desalinating seawater.
NamWater’s Chief Executive Officer, Vaino Shivute said this week that the second desalination plant should be commissioned at the beginning of 2010. It is expected to have a capacity of 25 million cubic meters per annum and will cost around N$1.5 billion.
Construction of the country’s first desalination plant, a joint venture between NamWater and French mega nuclear builder Areva’s subsidiary UraMin, is already underway. This plant is expected to be commissioned at the end of 2009 and will have a capacity to produce 20 million cubic meters of water per annum, most of which will cater for UraMin's Trekkopje uranium mine.
The mine is set for trial mining during the second quarter of this year.
“Due to pressure on groundwater sources, we were directed by the government to construct a desalination plant,” Shivute said.
Mining companies seeking to benefit will foot all capital and operational costs associated with the second plant, such as construction water distribution expenditures, either through capital payment upfront or via water tariffs, Shivute said.
He said the national water utility is including power demand for desalination and the uranium mines in its development plans.
“NamPower has indicated to NamWater that by the third quarter of next year, there will be enough power for the desalination plant,” he said.
NamWater envisages that the second plant will result in less water being abstracted from the Omdel and Kuiseb Aquifers. The coastal towns water demand will still be met by water from the two aquifers.
Shivute said that the water from the aquifers and the desalination plant would be blended to improve the quality of water in the coast. NamWater has already appointed desalination and financial consultants on the project.
Comments:miningnamibian@gmail.com
This development has led to water utility NamWater announcing plans for another desalination plant in the country’s desert coastal region. At present, Namibia consumes about 67 million cubic meters per annum. But with more or more uranium mines being planned for the Erongo Region, NamWater notes that the solution lies in desalinating seawater.
NamWater’s Chief Executive Officer, Vaino Shivute said this week that the second desalination plant should be commissioned at the beginning of 2010. It is expected to have a capacity of 25 million cubic meters per annum and will cost around N$1.5 billion.
Construction of the country’s first desalination plant, a joint venture between NamWater and French mega nuclear builder Areva’s subsidiary UraMin, is already underway. This plant is expected to be commissioned at the end of 2009 and will have a capacity to produce 20 million cubic meters of water per annum, most of which will cater for UraMin's Trekkopje uranium mine.
The mine is set for trial mining during the second quarter of this year.
“Due to pressure on groundwater sources, we were directed by the government to construct a desalination plant,” Shivute said.
Mining companies seeking to benefit will foot all capital and operational costs associated with the second plant, such as construction water distribution expenditures, either through capital payment upfront or via water tariffs, Shivute said.
He said the national water utility is including power demand for desalination and the uranium mines in its development plans.
“NamPower has indicated to NamWater that by the third quarter of next year, there will be enough power for the desalination plant,” he said.
NamWater envisages that the second plant will result in less water being abstracted from the Omdel and Kuiseb Aquifers. The coastal towns water demand will still be met by water from the two aquifers.
Shivute said that the water from the aquifers and the desalination plant would be blended to improve the quality of water in the coast. NamWater has already appointed desalination and financial consultants on the project.
Comments:miningnamibian@gmail.com
Wednesday, April 2, 2008
Bannerman Resources dual lists on Namibia Stock Exchange
April 2-(miningnamibia)-Bannerman Resources Ltd, which is listed on the Australian Stock Exchange and Toronto Stock Exchange on Wednesday dual listed on the Namibian Stock Exchange. The ceremony was attended by members of the business community and government officials.
Bannerman has become the fifth uranium company to list in Namibia after Deep Yellow, Forsys, Paladin Energy and Xempler.
Bannerman is an exploration and pre-feasibility stage mining company with interests in two properties in Namibia and a number of properties in Botswana and Australia.
Bannerman has become the fifth uranium company to list in Namibia after Deep Yellow, Forsys, Paladin Energy and Xempler.
Bannerman is an exploration and pre-feasibility stage mining company with interests in two properties in Namibia and a number of properties in Botswana and Australia.
Forsys Increases Ownership of Ondundu Gold Project in Namibia to 90%
April 2-(miningnamibia)-Forsys Metals Corp has announced that it has increased its ownership in the Ondundu gold project in Namibia to 90%.
Namibia's Ministry of Mines and Energy has renewed Omatjete Mining Company exclusive prospecting license through to 31 May 2009. The License encompasses an area of 19,969 hectares and incorporates Ondundu.
With the renewal of the license, Westport Resources Namibia a wholly-owned subsidiary of Forsys, has completed the purchase of Domino Resources (Pty) Ltd's entire equity interest in Omatjete, thereby increasing Forsys' beneficial ownership in Omatjete from 32% to 90%.
Ondundu lies within the Northern Zone of the Damara Belt that extends east from the Atlantic Ocean into northwestern Botswana.
Estimate, based on 26 diamond drill holes and the old workings, the Ondundu project contains an historical resource of approximately 4.5 million t at 3.387 g/t gold; equivalent to approximately 500,000 ounces.
“The increase of our interest to 90% in the Ondundu Gold project provides Forsys with a unique opportunity to control an advanced Namibian-based gold project” said Mr. Duane Parnham, President and CEO of Forsys.
He further stated that "Forsys will continue to focus its efforts on developing its wholly-owned Valencia Uranium Mine. Having worked in Namibia since 2000, we continue to maintain our country focus and continue to explore many opportunities to enhance shareholder value."
Namibia's Ministry of Mines and Energy has renewed Omatjete Mining Company exclusive prospecting license through to 31 May 2009. The License encompasses an area of 19,969 hectares and incorporates Ondundu.
With the renewal of the license, Westport Resources Namibia a wholly-owned subsidiary of Forsys, has completed the purchase of Domino Resources (Pty) Ltd's entire equity interest in Omatjete, thereby increasing Forsys' beneficial ownership in Omatjete from 32% to 90%.
Ondundu lies within the Northern Zone of the Damara Belt that extends east from the Atlantic Ocean into northwestern Botswana.
Estimate, based on 26 diamond drill holes and the old workings, the Ondundu project contains an historical resource of approximately 4.5 million t at 3.387 g/t gold; equivalent to approximately 500,000 ounces.
“The increase of our interest to 90% in the Ondundu Gold project provides Forsys with a unique opportunity to control an advanced Namibian-based gold project” said Mr. Duane Parnham, President and CEO of Forsys.
He further stated that "Forsys will continue to focus its efforts on developing its wholly-owned Valencia Uranium Mine. Having worked in Namibia since 2000, we continue to maintain our country focus and continue to explore many opportunities to enhance shareholder value."
Rössing Plans Major Growth, New Era says
(New Era)-Having rounded up its Social and Environmental Impact Assessments Report (SEIA), Rössing Uranium mine has moved a step closer to the achievement of its envisaged development targets as part of the mine’s life expansion project.
The report, which has now been submitted to the Ministry of Environment and Tourism (MET) for consideration, highlights the impact of the mine’s envisaged development on the fragile environment, amongst others.
Rössing aims to expand its operations to at least 2026, and has designed various projects to achieve this.
Phase 1 of the expansion project will see the establishment of a sulphuric acid plant, ore sorter and an SK4 pit. Rössing mine’s metallurgical process uses sulphuric acid leaching to extract the uranium from the ore. An onsite pyrite burning acid plant was in use until 1997, after which it was converted to burn sulphur imported through Walvis Bay and railed to the mine.
It was mothballed in 2000 when prices of imported acid became unfavourable against production costs.
Public concerns had been raised at the time, when sulphur spillage next to the railway line was found.
Current economic evaluations show that value may be gained by establishing a new sulphuric acid production plant at the mine, while continuing to import additional acid if required.
The existing on-site acid storage facilities will be upgraded and will be utilized to store the acid produced, while offloading and handling facilities at the mine will be installed or upgraded to deal with the envisaged developments.
For the ore sorter, a pre-screening plant and a production ore sorting plant comprising four screening units and two ore sorter clusters will become necessary, the report states.
While the entire Erongo Region stands to benefit from the Rössing mine’s expansion, the town of Arandis will derive most benefits from the exercise.
Arandis was established in 1976 to serve the needs of Rössing uranium mine through accommodation for its employees.
Until 1992, when the town was given to the Government as an independence gift, the town was wholly supported by the mine, and this support extended to health services, schooling, service provision, recreation and infrastructure maintenance.
In 1994, Arandis was proclaimed a fully-fledged town and the local authority struggled to deliver services with an inadequate budget, a lack of capacity and non-payment by residents.
The role that Rössing played in the support and functioning of Arandis in the past had built a strong dependence on the mine and the wave of retrenchments in the 1990s further impacted on the town. In effect, the town experienced two ‘quasi-closures’ and displayed some of the characteristics of communities impacted by closure, such as the erosion of the local authority’s revenue base, increased demands on local government as the number of indigents increased, the breakdown of social networks and community cohesion and the failure of development of alternative economic activities.
Due to the proximity to the mine, dependency on Rössing has remained one of the town’s most marked characteristics.
The proposed expansion project has now raised expectations that the mine’s activities will restore the prosperity of the town.
Rössing has operated the open-pit uranium mine in the Erongo Region of Namibia since 1976. Although of considerable extent, the Rössing ore body is of a low grade and consequently large volumes of rock have to be mined and processed to extract the powdered uranium concentrate that is the final product.
As a result of an increase in uranium prices on the international market in recent years, Rössing is now able to consider the possible financial benefits from an expansion of its operations.
The previous mine plan predicted an operational period ending in the year 2016. According to this plan, a sustainability assessment was undertaken and approved in 2005. Rössing is now looking at a mine plan beyond 2016 and consequently the associated social and environmental issues are being reviewed.
In terms of the Namibian Constitution and related environmental legislation, in particular the Environmental Assessment Policy (MET 1995) and the Minerals Act (No. 33 of 1992), the proposed expansion activities would require authorization from the responsible authorities before they can be
undertaken.
Insofar as the environmental acceptability of Rössing proposed expansion project is concerned, the Ministry of Environment and Tourism would need to issue clearance for such expansion.
A Social and Environmental Impact Assessment (SEIA) study has thus been commissioned by RU for their proposed expansion project, as required by the Environmental Assessment Policy (MET 1995) but also informed by the principles of Namibia’s Environmental Assessment and Management Act 2, as well as the internal standards and guidelines prescribed by Rio Tinto, Rössing Uranium’s parent company.
The report, which has now been submitted to the Ministry of Environment and Tourism (MET) for consideration, highlights the impact of the mine’s envisaged development on the fragile environment, amongst others.
Rössing aims to expand its operations to at least 2026, and has designed various projects to achieve this.
Phase 1 of the expansion project will see the establishment of a sulphuric acid plant, ore sorter and an SK4 pit. Rössing mine’s metallurgical process uses sulphuric acid leaching to extract the uranium from the ore. An onsite pyrite burning acid plant was in use until 1997, after which it was converted to burn sulphur imported through Walvis Bay and railed to the mine.
It was mothballed in 2000 when prices of imported acid became unfavourable against production costs.
Public concerns had been raised at the time, when sulphur spillage next to the railway line was found.
Current economic evaluations show that value may be gained by establishing a new sulphuric acid production plant at the mine, while continuing to import additional acid if required.
The existing on-site acid storage facilities will be upgraded and will be utilized to store the acid produced, while offloading and handling facilities at the mine will be installed or upgraded to deal with the envisaged developments.
For the ore sorter, a pre-screening plant and a production ore sorting plant comprising four screening units and two ore sorter clusters will become necessary, the report states.
While the entire Erongo Region stands to benefit from the Rössing mine’s expansion, the town of Arandis will derive most benefits from the exercise.
Arandis was established in 1976 to serve the needs of Rössing uranium mine through accommodation for its employees.
Until 1992, when the town was given to the Government as an independence gift, the town was wholly supported by the mine, and this support extended to health services, schooling, service provision, recreation and infrastructure maintenance.
In 1994, Arandis was proclaimed a fully-fledged town and the local authority struggled to deliver services with an inadequate budget, a lack of capacity and non-payment by residents.
The role that Rössing played in the support and functioning of Arandis in the past had built a strong dependence on the mine and the wave of retrenchments in the 1990s further impacted on the town. In effect, the town experienced two ‘quasi-closures’ and displayed some of the characteristics of communities impacted by closure, such as the erosion of the local authority’s revenue base, increased demands on local government as the number of indigents increased, the breakdown of social networks and community cohesion and the failure of development of alternative economic activities.
Due to the proximity to the mine, dependency on Rössing has remained one of the town’s most marked characteristics.
The proposed expansion project has now raised expectations that the mine’s activities will restore the prosperity of the town.
Rössing has operated the open-pit uranium mine in the Erongo Region of Namibia since 1976. Although of considerable extent, the Rössing ore body is of a low grade and consequently large volumes of rock have to be mined and processed to extract the powdered uranium concentrate that is the final product.
As a result of an increase in uranium prices on the international market in recent years, Rössing is now able to consider the possible financial benefits from an expansion of its operations.
The previous mine plan predicted an operational period ending in the year 2016. According to this plan, a sustainability assessment was undertaken and approved in 2005. Rössing is now looking at a mine plan beyond 2016 and consequently the associated social and environmental issues are being reviewed.
In terms of the Namibian Constitution and related environmental legislation, in particular the Environmental Assessment Policy (MET 1995) and the Minerals Act (No. 33 of 1992), the proposed expansion activities would require authorization from the responsible authorities before they can be
undertaken.
Insofar as the environmental acceptability of Rössing proposed expansion project is concerned, the Ministry of Environment and Tourism would need to issue clearance for such expansion.
A Social and Environmental Impact Assessment (SEIA) study has thus been commissioned by RU for their proposed expansion project, as required by the Environmental Assessment Policy (MET 1995) but also informed by the principles of Namibia’s Environmental Assessment and Management Act 2, as well as the internal standards and guidelines prescribed by Rio Tinto, Rössing Uranium’s parent company.
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