Extract scouts for partners for Rössing South

JOHANNESBURG – Namibia-focused explorer Extract Resources is looking for strategic partners for the development of its Rössing South uranium project and said that interested parties had to submit proposals for partnerships.

According to miningweekly.com, these proposals should include the outlining of the basics of their interest, and how they could assist with bringing the project into production, in the most timely and efficient manner.In May, Extract Resources started a comprehensive review of strategic options for the development of Rössing South. The strategic review has already identified a number of potential development pathways for Rössing South.At this stage no decision has been made on the preferred development option for the project.Proposals will be evaluated and compared against all other available options, including the development of the project solely by Extract, through its wholly-owned subsidiary, Swakop Uranium.Extract stated that it was continuing to progress the Rössing South feasibility study, which was due for completion by mid-2010, as well as delineating the significant new zones of mineralisation that continue to be discovered.The company believed that the level of interest already received from potential partners supports the company’s view that Rössing South has the potential to become one of the world’s leading uranium mines, capable of producing 15-million pounds uranium oxide a year.- miningweekly.com