Russia takes aim at US nuclear power by throttling uranium
Limits creates potential supply risks to utilities operating American reactors that generate almost a fifth of the country’s electricity.
Kalahari Minerals (LON:KAH) and Extract Resources (ASX:EXT) were both up slightly today after the companies announced they have received a mining licence for their Husab uranium project in Namibia.
London-listed Kalahari has a 42.7% stake in Extract.
Kalahari said in a press release that the mine lease, valid for 25 years, will allow the project to move into production and establish Husab as one of the three largest uranium mines in the world.
The company states the mine would produce 15 million pounds of U3O8 per year through open-pit mining. The deposit has a resource estimate of 500 million pounds U3O8.
Kalahari and Extract have been developing the project for six years.
Image of the Namib Desert, Sossusvlei, Namibia is by Shutterstock.
