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Tuesday, May 13, 2008 10:26PM IDLE (GMT +12hrs)
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Mining in Zambia
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Latest Zambian Mining Headline News
Friday, May 09, 2008
AFRICAN ENERGY RESOURCES LIMITED and ALBIDON LIMITED
African Energy completed its pre-feasibility study to assess the viability of commercial uranium mining from the Njame and Gwabe deposits in the Chirundu joint venture project in Zambia. The project is commercially viable using open pit mining of uranium and has a life of 5-6 years producing 1.3 Mlb U3O8 per annum. The estimated capital costs are US$68 milllion for pre-production costs with an additional US $21 million deferred costs. The company's directors have approved the commencement of a bankable feasibility study for the project.
Property: CHIRUNDU JV-NJAME/GWABE
(Complete Text of May 9, 2008 News Release) PDF
 
State Of The Industry Review: Zambia
The substantial improvement in base metal prices, and copper in particular, since the end of 2003 has led to considerable recent optimism amongst Zambia's business community. The country was granted debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) framework and met its completion point in June 2005. The Government also continues to make progress with privatisation and budgetary reform. The current prospects for both the public and private sectors therefore appear more positive than at any time since the early 1990s.

See the link below for the Zambian Mining Review as written by Martin Broome for 2005 Mining Journal Annual Review.


 
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