Mining Post Namibia

Canadian company Madison Metals, which acquired an interest in Namibia Nuclear Corporation (Proprietary) Limited, signed a five-year uranium forward sales agreement with Lux Partners. Madison Metals bought 23 per cent interest in mining licence 121 by acquiring 24 shares of Namibia Nuclear Corporation Limited on 12 September 2022. Lux is a FinTech company domiciled in the Isle of Man that operates the Lux network, the first decentralised blockchain integrated with and used by a network of regulated bank and money transmitter partners.  Lux enables institutions to take advantage of blockchain technology use cases in a tax-advantaged and regulated environment. The fintech processes transactions in crypto and fiat, given its ability to process Swift and Fed wires natively from the blockchain while still providing the highest levels of security and privacy. The five-year exclusive supply agreement with Lux Partners provides for the delivery of up to 20 million pounds of U3O8 from Madis...

  The Australian mining company Paladin is planning a low-risk restart of the Langer Heinrich Uranium mine with a project capital forecast of US$118 million (N$2,1b) in early 2023. Paladin Energy owns a 75% stake in the Langer Heinrich Mine, while the Chinese National Nuclear Corporation (CNNC) has 25%. The CNNC acquired the 25% stake in 2014 for US$190 million before the mine went into care and maintenance in 2018. In a recent statement, Paladin Energy said site contractors and the mine personnel had removed redundant equipment in preparation for process upgrades and improved plant maintainability. The company also said the completion of site establishment activities is in preparation for receiving site construction contractors and project equipment and materials.  Paladin further confirmed signing offtake agreements to supply uranium concentrates to a subsidiary of Duke Energy, a leading Fortune 150 North American power utility.  The offtake agreement means that Duke En...

Graphite mining company Gratomic Inc. said they successfully transferred 730 tonnes from its Namibian mine Aukam near Luderitz to the run of the mine stockpile. Run-of-Mine stockpiles are essential components in the mining value chain because they can be used as temporary storage to balance inflow and outflow and provide an opportunity for blending material. Graphite is used in pencils, lubricants, crucibles, foundry facings, polishes, arc lamps, batteries, electric motor brushes, and nuclear reactors cores.  The Canadian-based company also said large quantities of high-quality vein graphite had been shipped for testing to confirm its viability as an anode material.  Anode materials are the negative electrode in lithium-ion batteries and are paired with cathode materials in a lithium-ion cell. Gratomic is a Canadian-based multinational company with projects in Namibia, Brazil, and Canada. The company ranked third in the top 10 performing mining stocks on the 2022 TSX Venture 5...

Canadian uranium miner Forsys Metals Corp. says the studies and reviews currently ongoing at their Norasa project in Namibia are crucial for updating critical aspects of the 2015 definitive feasibility study. Norasa, the company's flagship project, includes the wholly owned Valencia project (ML 149), which has a 25-year mining licence and a 100% interest in the Namibplaas project (EPL 3638), which is located 7.5 km northeast of Valencia.  Both projects have NI 43-101 compliant uranium resources and reserves.  The properties are located in the Republic of Namibia, located approximately 75 km southwest of the town of Usakos in central-west Namibia and are known as the Norasa Uranium Project. Valencia is situated on the farm Valencia 122, located approximately 75km north-east of the town of Swakopmund in central-west Namibia, covering an area of 735.6 ha and is registered in the name of Valencia Uranium (Pty) Ltd.  ML 149 was converted from EPL 1496 on 23 June 23, 2008, and...