The drilling starts …

AN extensive drilling programme has started at the site of the proposed new Trekkopje uranium mine in the Namib Desert.

UraMin Namibia recently acquired the mining rights from the previous leaseholder Gulf Western Trading Namibia (GWTN), who had held the Mineral Deposit Retained Licence since the late 1990s, but due to low uranium prices, was not able to develop a full-fledged mining operation. UraMin has spent N$6 million on a feasibility study and, according to Administration Manager Malcolm Lindsay-Payne, another N$20 million will be invested in the coming months to complete the study.Financial Director Neil Herbert said in a press release that the study is expected to be concluded late this year or early next year.The mine is likely to be commissioned towards the end of 2008.The current drilling programme at the 30-hectare site halfway between Arandis and Spitzkoppe was launched to verify previous geological results obtained by other mining companies such as Rio Tinto, Elf-Aquitaine and Gulf Western.UraMin listed on the London Stock Exchange’s Alternative Investment Market (AIM) last month.Namibia has eight uranium deposits, predominantly in the Namib Desert.Should the Trekkopje project be realised, the country will be home to three uranium mines, which are expected to raise Namibia to the top of the list of Africa’s biggest uranium-producing countries.Because of the global interest in clean energy sources, the price of uranium oxide has soared from N$42 per pound in 2000 to N$222 in January 2006.UraMin has spent N$6 million on a feasibility study and, according to Administration Manager Malcolm Lindsay-Payne, another N$20 million will be invested in the coming months to complete the study.Financial Director Neil Herbert said in a press release that the study is expected to be concluded late this year or early next year.The mine is likely to be commissioned towards the end of 2008.The current drilling programme at the 30-hectare site halfway between Arandis and Spitzkoppe was launched to verify previous geological results obtained by other mining companies such as Rio Tinto, Elf-Aquitaine and Gulf Western.UraMin listed on the London Stock Exchange’s Alternative Investment Market (AIM) last month.Namibia has eight uranium deposits, predominantly in the Namib Desert.Should the Trekkopje project be realised, the country will be home to three uranium mines, which are expected to raise Namibia to the top of the list of Africa’s biggest uranium-producing countries.Because of the global interest in clean energy sources, the price of uranium oxide has soared from N$42 per pound in 2000 to N$222 in January 2006.