Mining: Positive News Abounds

AUTHOR: David Jarrett and Team Editor@ RDJ Publishing and RDJ Group ChiefExecutiveOfficer

The global push for sustainable energy is boosting the need for minerals and new mines, leaving Namibia in the forefront to help meet this demand.

Although sector specialists feel that the lead time to bring a mine to market creates an inertia, the understanding of Namibian geology creates an easier landscape for exploration

Regardless of the inertia, the Erongo regions of Namibia are seeing several promising activities such the Langer Heinrich Mine located approximately 80 km east of Swakopmund in the Erongo region, a Uranium mine based on a deposit discovered in 1973 Based on owner information, the mine has yielded more than 20 million kilograms of uranium oxide and estimated to still have the ability to yield another 35 million kilograms. This means the mine has produced around USD 2.1 billion (NAD 40 billion).

Forsys Metals Corp. has announced its latest drilling program results (March 2024) at their Valencia Uranium mine in the Erongo region, stated with the potential of 52 million kilograms which could yield potentially USD 5 6 billion (NAD 106 billion) This furthers the 2015 Definitive Study results that are now being revised

OAR Resources has signed a binding agreement with Bullrun Capital, Cityscape Asset and Impala Consulting to acquire a 100% interest in two uranium exploration prospecting licences (EPLs) in the Erongo region near Walvis Bay, enclosing some 230 square kilometres As these EPLs are located in well highlighted uranium mine “country”, the potential is expected to be quite positive.

The mining and exploration company Madison Metals has found high-grade Uranium located within the company’s

Khan project in the Erongo region “The Khan Project is quickly becoming an extremely valuable asset to Madison, having huge potential for making new high-grade uranium discoveries sitting right next to two operating uranium mines,” said Duane Parnham, Executive Chairman and CEO of Madison Metals.

The Omaheke Regional Council through its Governor, Hon. Pijoo Nganate has also highlighted the potential of his region with positive news related to various explorations The Headsprings / Uranium One project owned ultimately by Rosatom is exploring areas of Omaheke for Uranium deposits. As noted by Headsprings, since the operations are in the Leonardville area, Omaheke Region, the envisaged extraction of the uranium will be done through In-Situ Recovery (ISR), as open pit and shaft mining are not practical options

Another Omaheke project is under way by Noronex Exploration and Mining after purchasing the remaining 25% stake from Thunder Gold Corp seeking rare earth minerals such as copper. Noronex is an ASX-listed copper company with advanced projects in the Kalahari Copper Belt, Namibia, and in Ontario, Canada The company states on its website that it plans to use modern technology and exploration techniques to generate new targets at the projects and grow the current resource base.

Yintai Gold Co., Ltd to acquire Osino Resources in an allcash transaction of Osino’s 100% owned Twin Hills Gold Project located in the Erongo region and is an advanced

-stagegoldprojectinNamibia TheTwinHillsprocessplant will have a nameplate capacity of 5 0 Mtpa of ore and a nominalcapacityof649tonnesperhour(tph)

On 19 June 2020 Bezant Resources announced the acquisition of 100% of Virgo Resources Ltd and its interests in the Hope Copper-Gold Project in Namibia. On 27 October 2023 Bezant announced an updated Indicated and Inferred Mineral Resource Estimate for the Hope and Gorob copper project in Namibia. Bezant Resources holds a 70% interest intheProject.

It is apparent production is set around uranium, gold and copper with other rare metals providing the opportunity for growth These and other promising mines, create a clear upward swing for Namibia but as always, the conversation continues infocus@rdjpublishing.africa

Readings: https://www statista com/statistics/583796/uranium-price-annually/ https://www.paladinenergy.com.au/langer-heinrich-mine/ https://www forsysmetals com/wp-content/uploads/2024/03/202403-26-FSY NewsRelease Drill2023Results-2024DrillProgram pdf https://www.mining-technology.com/news/oar-acquire-prospectinglicences/ https://www globalminingreview com/mining/18122023/madisonmetals-identifies-high-grade-uranium-at-namibia-project/ https://www namibianuranium org/headspring-investments/ https://osinoresources com/

Please note: Uranium pricing based on a unit price of USD48.99perpound(2023)