Video: Gold mining faces a cliff after 2025, CRU analyst predicts
Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.
Australia’s Mantra Resources Pty Ltd. (ASX:MRU)) will start extracting uranium at its Mkuju River project in Tanzania, reports AllAfrica.com.
Its subsidiary Mantra Tanzania Ltd. received its environmental impact assessment certificate from the government and is set to proceed.
The company said it would wait for the dry season — typically June through September — to begin so trucks can drive safely on the roads.
During the life of the mine, the Mkuju River project anticipates $1 billion of foreign investment and generate about $630 million to direct and indirect cash flows.
The European Union said it would work with the Tanzanian government to ensure uranium mining is properly conducted.
The Mkuju River project is an in situ recovery uranium project about 470 kilometres southwest of Dar es Salaam. It holds 139,600 tonnes of measured and indicated resources.
Canadian-based Uranium One Inc. (TSE: UUU) holds a minority stake in the project.
Image: Shutterstock.com
Comments
uranium-network.org
The project faces several serious impediments, one of them being the fact that a Mining Developement Agreement by the Tanazian authorities has not yet been given due to disagreements betweeen the company and the Tanzanian authorities.
The disagreements revolve around disclosure of the customers buying uranium / yellowcake from the company which the Tanzanian Government insists on, but the Company refuses disclosure of customers.
Moreover, there is disagreement between the company and the Tanzanian authorities re: transport of uranium / yellowcake: the company wants to truck yellowcake to the port of Walvis Bay, Namibia, more than 3.500km away, whereas the Tanzanian authorities would like to see yellowcake shipped through the Tanzanian port of Mtwara – some 600km away, currently with several hundred km of dirt road unsuitable for heavy trucks in the rainy season.
The Europan Union has been paying a visit to Tanzania on this issue some time ago, decisions have not been made in any way so far.
uranium-network.org