WORLD NUCLEAR NEWS (LONDON)-- Bannerman Resources estimates that the indicated and inferred resources at its Etango deposit in Namibia have risen to 149 million pounds (mlbs) and 64 mlbs of U3O8 respectively. Its updated feasibility study indicates that Etango will have a mine life of 20 years, producing 5-7 mlbs of U3O8 per year. Bannerman will mine the deposit using open pit methods and a simple heap leaching process. It plans to complete the feasibility study, secure a development partner, and obtain a mining license during 2011. Source: http://www.world-nuclear-news.org/ENF-More_resources_as_Etango_plans_take_shape-3101118.html (Reliability: 46.73 -- Moderate)
Analysis:
It is likely that uranium mining will dramatically increase in Namibia over the next 12-24 months. Currently, Rio Tinto's Rossing mine and Paladin Energy's Langer Heinrich mine produce about 10% of the world's uranium. UraMin expects to start production at its Trekkopje mine in 2012, and Bannerman is making significant progress with its Etango project and aims to start production in 2013. Lastly, the Namibian Ministry of Environment and Tourism gave the environmental approval for Extract Resources' Husab project on 28 January 2011. This is a large step in obtaining a mining license from the Namibian government and Extract estimates the Husab project to produce 15 mlbs of U3O8 per year. (Analytic Confidence: Moderate)
Image Source: Google Earth and http://australianuraniuminvesting.blogspot.com/2010_01_24_archive.html
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