Zambia reinstates uranium mining licence for GoviEx

Zambia reinstates uranium mining licence for GoviEx

Canada’s GoviEx Uranium announce on 10 May that it had received a letter from the Mining Cadastre Department of the Republic of Zambia notifying the Company that the previously cancelled Chirundu Mining Licence (12634-HQ-LML) had been re-instated.

Welcoming the move, GoviEx’s Executive Chairman Govind Friedland said the decision was well considered and in the best interests of all stakeholders both in Zambia and abroad.

“The Zambian Government has indicated its strategy to diversify its mining industry from the heavy weighting of base metals and advancing its long-term desire to include uranium and clean baseload nuclear power as part of its economic development plans,” he said. “As the uranium market improves, the Company plans to reinvigorate the development of the Mutanga Project starting with targeted resource exploration drilling later this year. We look forward to advancing and deepening our long-term and mutually beneficial relationship with the Republic of Zambia.”

The Chirundu Mining Licence was acquired from African Energy Resources Ltd in October 2017 and includes the Njame and Gwabe mineral deposits. These deposits were subsequently included with the Mutanga, Dibwe and Dibwe East deposits in the technical report titled, “NI 43-101 Technical Report on a Preliminary Economic Assessment (PEA) of the Mutanga Uranium Project in Zambia”, dated November 2017, prepared by SRK.

GoviEx said that, since acquiring the Chirundu Mining Licence, it has ensured all statutory reports and payments have been made, and in addition has expanded its Community and Social Responsibility programmes to cover the villages within the Chirundu Mining Licence, including the reconstruction of a school and the commencement of an adult education programme.

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